The short answer
A property manager runs a property on the owner's behalf: finding and screening tenants, collecting rent or dues, handling maintenance and emergencies, hiring and supervising vendors, keeping the property compliant with local rules, and reporting the finances. For associations, the manager also supports the board with budgets, meetings, and enforcement of the governing documents.
Day-to-day work
- Answering resident calls and maintenance requests
- Dispatching vendors and checking the work
- Collecting rent, dues, and late payments
- Inspecting the property and documenting its condition
Financial work
- Monthly statements and owner or board reports
- Annual budgets and reserve tracking
- Paying bills and managing vendor contracts
Compliance
In New Jersey that includes landlord registration, security deposit rules, lead-safe certification, and, for associations, the Radburn Act.