What is the definition of property management?

The definition of property management encompasses the comprehensive tasks involved in overseeing, controlling, and maintaining both real and personal property, along with any related assets. This role involves various responsibilities such as managing tenants, ensuring property maintenance, handling financial transactions, and adhering to legal requirements connected to property ownership and operation.

In this context, property management is broader than just investing in real estate, which generally refers to the acquisition and potential profit from buying properties. It also surpasses merely arranging property assessments or selling government properties, which are specific activities that do not cover the full spectrum of duties carried out by a property manager. Thus, the correct definition accurately captures the holistic nature of property management in its entirety.