In some cases, they may assist the property manager in supervising maintenance personnel or contractors performing a variety of services to the property. The site manager is the key to maintaining accurate records of the property's income and expenses, which enables the property manager to chart the financial performance of the property. The property manager The property manager functions as the liaison between the property owner or owner's agent, frequently an asset manager, and site personnel. The property manager follows a management plan that he or she has designed and the owner has approved. This plan governs all aspects of the physical plant, financial operation, tenant relations, market positioning, and community image building.
Property managers are directly responsible for maintaining and creating value in properties.
This is mainly carried out by improving the net operating income of a property, which is accomplished through efficient operating procedures and optimization of rental income. The real estate asset manager focuses on managing real estate as a financial asset and makes decisions which will govern the financial performance of the property. The emphasis is on managing the property as an investment, focusing on activities that will add value to each property under management. Operational functions and caretaker roles are left to the property and site managers. In many cases, performance goals for the property are established by the asset manager then implemented by the property manager.