A third-party contractor's daily control over residential, commercial, or industrial real estate is known as property management. In general, property managers are accountable for continuing maintenance, security, and upkeep of properties as well as daily repairs. They typically work with those who own investment assets including shopping malls, industrial parks, private home communities, and apartment and condominium buildings. Their primary responsibilities include managing routine activities given by the owners and maintaining the value of the assets they manage while producing cash.

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