What is the purpose of property management?

The purpose of property management is to oversee and manage real estate properties on behalf of owners, ensuring profitability and maintaining property value. Property managers are responsible for a variety of tasks including tenant relations, rent collection, maintenance, and ensuring that the property complies with relevant laws and regulations. This multifaceted role is aimed at maximizing the investment value of the property while providing a satisfactory living or working environment for tenants.

By effectively managing properties, property managers help owners achieve their financial goals and preserve the physical and economic integrity of their investments. This includes not only handling immediate operational responsibilities but also planning for long-term maintenance and improvements to enhance property value over time.

The other options, while related to the real estate industry, do not encompass the full scope of what property management entails. Selling properties focuses solely on the transactional aspect rather than ongoing management, helping tenants find new rental properties is a service related to leasing rather than management, and conducting market research refers to analysis activities which are part of investment strategy but not directly tied to property management itself.