The duties and responsibilities of property managers have grown over time with an increased focus on maximizing the bottom line for their owners. Property managers are responsible for a diverse set of duties for a single property or a real estate portfolio, including overseeing the day-to-day operations; managing marketing and leasing; preparing, submitting and managing the property’s budget; performing lease administration duties, monitoring rent collections; directing tenant retention programs; coordinating property maintenance and repair; and ensuring the property’s compliance with policies and procedures, building codes and regulations. Property managers are not only involved in the daily operations at the property level, they must have a comprehensive understanding of the owner’s strategy for the property or assets in their real estate portfolio.
