Property Management

Real estateGlossary term

Definition

The operation, oversight, and maintenance of real estate by a third party on behalf of the owner. Property managers handle tenant screening, rent collection, maintenance, and legal compliance, typically charging 8-12% of monthly rental income.

Related terms

Rental IncomeMoney received from tenants for the use of real estate property. Rental income is considered taxable but can be offset by deductions including mortgage interest, property taxes, insurance, maintenance, and depreciation.

Browse the full glossary

Get advice that uses your real numbers

Warren reads your accounts and explains what terms like this mean for your plan. Free to start, no credit card required.

Try Warren Free