If you want to understand what Real Estate Management is all about, you need to first know what the term "Real Estate" means - this term is used to denote any piece of land and any additions that have been made to that land. Additions to the land can be anything like a building, a compound wall, fencing, and the similar kind of stuff. Even a well that is located in that piece of land is considered to be an addition to that land. And since these additions are not movable, they belong to the same person who owns the land on which they are located. The common man prefers to refer to all this as his "property" or "Real Property"
Having said that, let's take a look at a few reasons why anybody would want to hire a Real Estate Management Professional to help them. If you were the owner of a large piece of residential property, you might not be able to spend a lot of time interacting with tenants. Collection of the rents that are due to you and answering to their calls for repair and maintenance or liaise with a security agency to provide security services can be seriously time consuming and might leave you with little time for anything else.
This is when you will need the services of a Professional Real Estate Management company. They will liaise with your tenants on your behalf and collect the rent that is due to you. They will also respond to their calls if there is a need for any repair and maintenance and respond to their needs as the situation arises. Of course, it will all be done as per the agreement you have with this company, and they will only be following your instructions. This kind of an arrangement will leave you with enough time to focus your attention on other matters.
Real Estate Management professionals also come in handy when you wish to buy or sell a property. They will negotiate on your behalf with the buyer or seller and take care of all the verification and documentation procedures. Of course you will have to pay them a certain percentage of transaction amount as their commission but if you really look at it, it would be nothing compared to the trouble they would be saving you. You can also hire one of these professionals to manage your industrial or commercial property on your behalf. They will make sure that there is optimum occupancy and will also be responsible to collect all the money that is due for you.
Real Estate Management companies deal with a number of things. Some of the more important ones are Property Management, Property Leasing, Sale of Residential, Commercial, and Industrial Properties, and Property maintenance, to name a few. If you are planning to hire one of these professionals or companies to manage your properties, you need to take the usual precautions and make sure that you will be dealing with a company or person with whom you will feel comfortable talking to and somebody who will genuinely devote his time to provide the services promised to you