Definition: The operation and oversight of real estate for an owner, which may include leasing, collecting rent, arranging maintenance, budgeting, and reporting.
Example
An owner hires a manager to coordinate repairs and provide monthly income-and-expense reports for rental units.
Keep the distinction clear
The management agreement sets the scope of authority. Activities performed for others for compensation can require licensing unless a specific exemption applies.
Related terms
Property Manager · General Agent · Trust Funds
Keep studying
Property Manager Duties: The Owner, the Agreement, and the Property
References: Florida Statutes 475.01: brokerage definitions
Pronunciation (US): PRAH-per-tee MAN-ij-ment (capitals show stress)
Pronunciation reference: Merriam-Webster
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