What is the primary function of a property management company?

The primary function of a property management company is to oversee and manage rental properties for owners. This includes a variety of responsibilities such as finding and screening tenants, managing leases, collecting rent, handling maintenance and repairs, and ensuring compliance with local laws and regulations. By taking on these tasks, property management companies enable property owners to maximize their investment returns while minimizing the time and effort required to manage their properties directly.

While selling properties is a function of real estate agents, property management companies specifically focus on the operational and administrative aspects of rental properties. Determining property value assessments typically falls to appraisers or certified assessors, and financial advice may be given by financial advisors or real estate investment consultants rather than a property management entity. Each of these alternative options serves different roles within the real estate ecosystem, but they do not encapsulate the core purpose of a property management company.