What is the main function of a property management firm?

The main function of a property management firm is to oversee the operation, maintenance, and leasing of real estate properties on behalf of owners. This role is essential for property owners who may not have the time, expertise, or desire to manage their properties directly. Property management firms ensure that properties are well-maintained, that tenants are properly screened and managed, and that all operational details are handled efficiently. These tasks may include marketing and leasing the property, managing tenant relations, keeping the property in good condition, collecting rent, and handling any maintenance issues that arise.

While other options may involve aspects related to real estate, they do not capture the comprehensive responsibilities of a property management firm as accurately as the correct answer does. For instance, handling real estate sales transactions is primarily associated with real estate agents or brokers. Providing legal advice on property disputes is generally the domain of attorneys specializing in real estate law, and setting property taxes is typically a function of government authorities, not a property management firm.