Management covers a very wide area of expertise. In each and every business, institution organization there has to be some sort of management to ensure that the set goals are achieved. The personnel that are assigned managerial positions are usually faced with tough decisions which they have to make within a given period of time. For instance, during the economic recession that was experienced in the United States and Europe, many companies were faced with problems which made it a necessity to lay off some of the workers. Such kind of decisions had to be made by the people in managerial positions to ensure that those companies survived the economic recession. This paper will discuss the topic of property management (Ellison, 2009).
Property management involves the control, operation and oversight of real estate properties. Presently, real estate business has boomed in many countries in the world. This has been brought about by the increased population which has been brought about by reduced mortality rate. As the population increases there is an ever growing demand for housing (Crane, 2007). Companies are springing up everywhere and building very good housing units. In order for these companies to stay competitive in the real estate business, they have to ensure that they have good managers who will keep their estates in good order. The need for management and accountability has led to these companies ensuring that they hire people with impeccable managerial skills (Deakin, 2004). (more…)