What is the role of a property manager in leasehold management?

In leasehold management, the property manager plays a crucial role in overseeing the overall management of the property. This encompasses a variety of responsibilities, including coordinating maintenance and repairs to ensure that the property is well-maintained and remains a desirable place to live or work. Additionally, the property manager is responsible for financial administration, which includes budgeting, collecting service charges, and ensuring that expenses are managed efficiently.

The property manager acts as a liaison between the leaseholders and other stakeholders, ensuring that any issues that arise are addressed promptly and effectively. This role is vital because it directly impacts tenant satisfaction and the financial health of the leasehold property. By managing these operational and financial aspects, the property manager ensures that the property runs smoothly and complies with any relevant laws and regulations.

In contrast, tasks such as selling leasehold properties, representing the freeholder in all matters, or handling legal disputes between tenants, while potentially related to the broader scope of property management, do not encompass the primary duties of a property manager within the context of leasehold management. These tasks may involve different specialists or departments in property management and real estate.