What is the primary purpose of property management?

The primary purpose of property management is to maintain and maximize the value of the property. This involves several key responsibilities, such as overseeing the overall management and upkeep of the property, ensuring that it remains in good condition, and implementing strategies to enhance its value over time. Property managers work to attract and retain quality tenants, manage rental income effectively, and address maintenance issues promptly. By focusing on these areas, property managers help ensure that the property remains a valuable asset for the owner, both in terms of its market value and its potential to generate income.

The emphasis on maintaining and enhancing property value is crucial because it not only benefits property owners in the long run but also contributes positively to the rental market and community.