A property manager is a third party who is hired to handle the daily operations of a real estate investment. They can manage all types of properties, from single family homes to large apartment complexes. Responsibilities can be quite broad, including maintaining property rentals by filling vacancies, negotiating and enforcing leases, setting and collecting rent, screening prospective tenants, handling complaints, keeping an accurate budget and maintaining and securing premises.
The property manager is in-between the tenant and you, the owner. They are the “first line of defense” and they are there to protect you, to handle all issues so efficiently that irate tenants or service providers are not calling you in the middle of the night.