Property management (PM) covers the operation, control and oversight of a real estate or its premises. It deals with the optimal use of managed premises, whether in the own or rented property. PM includes process control, system control, and technical supervision over the real estate and its life cycle. It is responsible for the safe condition of the real estate and its development from the operational and beneficially economic perspective as well as the longest possible lifetime of property under management.

PM thereby provides all administrative, economic and business processes related to the ownership of a real estate and asset management. It takes care of the lease relationship, registration of lease agreements, monitoring of compliance with contractual conditions, economic services and guidance related to accounting and administrative management. PM provides cooperation in the conclusion of lease agreements as well as in resolving insurance claims and damages.