What are the main steps in property management?
Are you interested in investing in one or more income properties? According to many investment experts, this is an excellent tool because real estate has the potential to provide an extremely interesting return that is generated with other people’s money, i.e. with the rents paid by the tenants. If the search for good buying opportunities is a determining factor in the profitability of your portfolio, real estate and administrative management is a major pillar.
Property management is a process that involves several important steps. These steps can be divided into three main phases: the preparatory phase, the active phase and the follow-up phase. Each phase has specific tasks and responsibilities that must be managed effectively to ensure that the property functions properly and maintains its performance potential.