Differences Between Real Estate and Property Management in Bangladesh
Real Estate and Property Management are like the two sides of a coin, with an overlapping factor. That is the “Building”. Where one ends its functionality to a point the other begins. Let us know the exact differences that exist between them.
Real estate is that sector, who has to involve a realtor and convince their potential customers. They deal with land and buildings.
Where the property management sector has to show organizational behaviour in managing the building after construction.
The table will guide you towards the key differences between real estate and property management:
Real Estate | Property Management |
Takes major responsibility like - Building design, and get approval from the national housing authority | Has to design a plan for managing the building after construction and get an approval of the building owner |
Ensure security by monitoring the construction site | Ensures security of the building by managing the gatekeeper and security guards |
Sell the ready-made flats and rent them to tenants | Collect rent from the tenants |
Screen outsider till the handover of flats or buildings | Maintain the screening of the tenants and the visitor |
Verifies the realty papers | Verifies the tenant’s identification papers |
Lists and sells the property on behalf of the owner | Deals with management, like - repairing, listening to complaints, etc. on behalf of the owner |
The profit depends on how valuable the realty is | The profit depends on how many tenants reside in the building |
The contact media with the customer and owner generally is the real estate agent or realtor | The contact media of the owner and tenant is a property manager |
These are the main differences between the two opposite yet related sectors. A landowner who wants a well-maintained building will have to contact both of them.