Property management and real estate are two separate industries with some overlap. Unfortunately, to the outsider, these are confused and lumped together. This mix up often causes potential property managers to forgo a career in that business because of the instability in the housing market.
While both businesses deal with housing, that’s where the similarities mostly end.
Key differences between the two are:
The real estate industry deals with listings and selling of properties on behalf of property owners, while property management deals with all management aspects of the property on behalf of the property owner including maintenance, repairs, tenant issues and more.
Real estate is a transactional business versus property management, which is a contractual business. The property manager and property owner enter into a contract where a percentage of the rent collected is paid to the property manager in exchange for management services.
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