Property Management

I'll answer your elementary question with another question:
What is spam management?

It can be the management of a single property, apartment complex, or hotel.

Many real estate companies provide property management for a fee; they usually charge a percentage of the rent/lease.

1 and a half weeks let fee, 1/2 week renewal fee, 5.5% management fee per month, internet advertising $250, $10 a month admin fee, free quarterly inspections, free tribunal hearings, maintenance organisation, statements monthly....

Included in the initial fees are:-

Attendance at Open Inspections
Selection of tenant/s
Screening of tenant/s
Collection of Bond and 2 weeks rent in advance
In-going inspection report signed off
Sending Bond to Tribunal
Banking
Setting up account for payments
Taking your cut and starting again, building your superannuation as that is what it can be, as it's a saleable asset.

The administration of residential, commercial and/or industrial real estate. Property management typically involves the managing of property that is owned by another party or entity. The property manager acts on behalf of the owner to preserve the value of the property while generating income. Managed properties include residential and vacation properties, commercial retail space or industrial warehouse space. Property managers are typically paid a fee and/or a percentage of the rent brought in for the property while under management.

Property management is the operation, control, and oversight of real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its useful life and condition. This is much akin to the role of management in any business.

And one always needs to carry a hammer along with some duct tape.