Updated: Sep 12
Owners, managers, leasing agents-- it can be confusing! Allow us to guide you through the vocabulary so you can best understand what BMOC does!
Property management is the maintaining, upkeep, leasing and general management of a resident community. Property management can be done by the owners of the building, or by a 3rd party company who is hired by the owners to do everyday management.
Property owners are the individuals or group who have legal ownership of a property. They are often involved in management activities and assist in big decisions regarding the property.
Property Managers vs landlords
The term "landlord" is commonly used to describe an owner who also manages a building. Whereas a "property manager" refers to a manager that was hired by the buildings owner(s). BMOC also provides all of our property managers with training through IREM in order to best prepare them for the position.
3rd Party Management
3rd party property management is when the owners of a building hire an outside company to manage their operations, maintenance, and overall management of the building. BMOC is a 3rd party management company, so this is where we fall.