Property management is a complex field that requires a good understanding of the different models available. There are a variety of different models that can be used for property management, and the one that you choose will depend on the specific needs of your property and business.
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Full-Service Model
The full-service model is the most comprehensive type of property management. This approach involves a range of different services, including but not limited to, tenant relations, maintenance and repairs, accounting, legal services, marketing, and more.
Lease Management Model
Lease management is another popular model of property management. This model focuses on the leasing process, from the initial tenancy agreement to the end of the lease term.
The property management team will manage all aspects of the lease, from the negotiation of the terms to the collection of rent and deposits.
Self-Management Model
The self-management model is the most cost-effective option for property owners. This approach involves the owner taking on all aspects of the property management, such as tenant relations, maintenance and repairs, accounting, legal services, and more.
Outsourced Model
The outsourced model is an increasingly popular option for property owners. This approach involves hiring an experienced third-party company to manage the property on their behalf.
The advantage of this model is that it gives the owner access to a range of expertise that they may not have in-house, while also allowing them to have more control over the property.
Fractional Model
The fractional model is a hybrid of the full-service and outsourced models. This approach involves hiring a third-party company to manage certain aspects of the property, such as tenant relations, maintenance and repairs, marketing, and more.
