Book Review ‘Real Estate Management: A Management Approach’

Abstract

The main function of the property manager is to realize the property owner's objectives, to generate income for them as well as maintain or increase the value of the investment property. The job of a property manager is complex and requires expertise in a more comprehensive field of real estate. The real estate market which has a direct impact on the job of real estate managers, is a major component of the economy in general. The two are very close where economic performance can cause changes in the real estate market. In order to assess the current and future potential of a particular property and then develop a management plan for it, a property manager must first understand the underlying economic trends and their implications for the real estate market. Only then can the property manager proceed with the steps to develop an efficient and professional management plan. All the activities involved in the marketing of the space to be rented are directed towards a single goal, which is to sign a rental agreement between the owner and the tenant. The role of the property manager in rental management will involve aspects of rent collection, establishing good relations between owners and tenants, coordination between tenant contractors, management of utilities and building services and monitoring the return of the premises to a good condition after the termination or expiration of the rental period.