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Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need for real estate to be cared for and monitored, with accountability for and attention to its useful life and condition.
It has become an integral part of the accounting, administrative, and legal requirements normally associated with a real estate portfolio. Job responsibilities for lease administrators and real estate professionals include: lease review and abstracting, accounting and processing, lease audits, CAM charges, lease renewal options, repairs and ...
A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property Each tenant pays their pro rata share of a property's total CAM charges, which prorated share is the percentage of the tenant's rented square footage of the total, rentable square ...
A property manager or estate manager is a person or firm charged with operating a real estate property for a fee. The property may be individual title owned or owned under the sectional title, share block company owned, and may be registered for residential, commercial office, and retail or industrial use.
The term "white collar" is credited to Upton Sinclair, an American writer, in relation to contemporary clerical, administrative, and management workers during the 1930s, [1] though references to white-collar work appear as early as 1935. White collar employees are considered highly educated as compared to blue collar.
The Real Property Administrator (RPA) designation is a professional designation for commercial property managers awarded to people with several years of experience and completing the Building Owners and Managers Association advanced study program.
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