What is the primary role of a property management company?

The primary role of a property management company is to manage rental properties on behalf of owners. This involves overseeing the daily operations of residential or commercial properties, ensuring that they are maintained, tenants are properly managed, and rental income is collected. Property management companies handle a variety of tasks such as finding and screening tenants, coordinating repairs and maintenance, negotiating leases, and ensuring compliance with local housing laws.

By focusing on these responsibilities, property management firms allow property owners to benefit from their investments without the day-to-day hassles of managing the properties themselves. This can include dealing with tenant complaints, ensuring that property upkeep is performed, and handling the financial aspects, such as tracking expenses and income. The expertise of a property management company often results in higher tenant satisfaction and lower vacancy rates, contributing to the overall success of the investment property.

The other options, while related to real estate, do not capture the essential function of property management. Selling properties, offering legal advice, and renovating properties are distinct activities that do not represent the core responsibilities of property management.