What is one of the key roles of property management?

Managing tenant relations is a crucial role of property management because it directly affects both tenant satisfaction and the overall functioning of the property. Effective communication and relationship-building with tenants can lead to higher tenant retention rates, minimized turnover, and a positive living environment. This includes addressing tenant concerns, ensuring that maintenance issues are resolved promptly, and facilitating clear communication regarding lease terms and property policies.

While increasing property value, marketing for sale, and overseeing property upgrades are important aspects of property management, they fall under broader categories and are often secondary to the core function of maintaining good relationships with tenants. Strong tenant relations contribute significantly to the financial success of a property, as happy tenants are more likely to renew leases and take better care of their living space.