Property manager
A person or company hired to run a rental, including finding tenants, collecting rent and handling repairs. Fees are often a percentage of rent plus leasing fees. Some states require a real estate license.
Also called: property management, PM, property management company
Related terms
The owner who rents a property to a tenant. Landlords must follow fair housing law and state and local landlord-tenant rules.
A person or business that rents a property from a landlord under a lease.
The ongoing costs of running a property, such as taxes, insurance, repairs, management, utilities and HOA dues. They do not include mortgage payments or major capital improvements.
An owner who does not live at the property, such as a landlord in another city. Investors often target absentee owners when looking for off-market deals.
A contract between a landlord and tenant that sets the rent, term, deposit and rules for using a property.