Discover the functions and accountabilities, and standard roles in the property development industry.
Understanding the property development and management industry
Property development and management industry involves the purchase, development, management and sale of real estate properties. This industry plays a crucial role in the world's economy, providing a wide range of opportunities for investors, developers, and property managers.
In property development, developers purchase land, finance real estate deals, build or have builders construct projects, create, imagine, control, and orchestrate the process of development from the beginning to end. This could involve residential properties, such as houses and apartments, or commercial properties, such as offices, retail spaces, and industrial buildings.
Property management, on the other hand, involves the operation, control, and oversight of real estate. Property managers are responsible for ensuring that all aspects of a property—residential, commercial, or industrial—are running smoothly. Their duties can include everything from maintaining property condition, managing tenants, collecting rents, to overseeing facility operations.
Both development and management require a deep understanding of the market, strong networking skills, and the ability to make strategic decisions that will benefit the property and its stakeholders.
Key Functions and Accountabilities in Property Management
>>> Download the functions and accountabilities as a printable facilitator pack by opening this template in Functionly. <<<
