What is meant by "property management"?

In the context of real estate, "property management" refers specifically to the process of overseeing and managing rental properties. This encompasses a range of responsibilities, including maintaining the property, collecting rent, handling tenant relations, and ensuring compliance with local regulations. Essentially, property management is focused on the day-to-day operations and long-term maintenance of rental properties to ensure they are profitable and well-maintained.

The correct choice highlights the operational aspect of real estate, emphasizing the role of property managers in maintaining the integrity of a property while also maximizing rental income and tenant satisfaction. Other options, while related to real estate, pertain to different activities within the industry, such as investment acquisition, property transactions, and contract drafting, which do not fall under the scope of property management duties.