What does property management involve?

Property management involves overseeing, maintaining, and operating real estate properties on behalf of the owners. This encompasses a variety of responsibilities, including tenant relations, rent collection, property maintenance, and ensuring compliance with local laws and regulations. The primary goal is to maximize the property's value and ensure a steady income for the owner by effectively managing day-to-day operations and addressing the needs of tenants.

In contrast, buying real estate is a legal process that involves several steps, but it is not part of property management itself. Appraising property values is a distinct activity focused on determining a property's market value, which does not involve the ongoing management aspect of the property. Negotiating sale contracts pertains to the transaction of buying and selling property rather than the ongoing operation and maintenance of a property, which is the essence of property management. Thus, option B clearly aligns with the definition and scope of property management.