--- description: Most SMEs and businesses that handle property management will encounter one of four types of administering real estate. Discover these four types in more detail. image: https://gdm-localsites-assets-gfprod.imgix.net/images/software_advice/og_logo-55146305bbe7b450bea05c18e9be9c9a.png title: Guide: 4 types of property management --- # 4 different types of property management for SMEs Canonical: https://www.softwareadvice.co.uk/blog/3541/types-property-management-smes Published on 22/03/2023 | Written by David Jani. ![4 different types of property management for SMEs](https://images.ctfassets.net/63bmaubptoky/7CDeuwOM2ZtzaIL7Qk8MtK/b75df30af7d456ef21506c575602ae25/different-types-property-management-UK-SA-HEADER.png) > Hiring a property manager can help owners and landlords to keep their return on investment (ROI) high and their portfolio properly accounted for. However, there are a few different types of property management that housing and property SMEs may have to consider to run things correctly. This gives real estate management companies some important choices when working with property owners.  ----- ## Article Content Hiring a property manager can help owners and landlords to keep their return on investment (ROI) high and their portfolio properly accounted for. However, there are a few different types of property management that housing and property SMEs may have to consider to run things correctly. This gives real estate management companies some important choices when working with property owners. In this articleResidential property managementCommercial property managementIndustrial property managementSpecial purpose property managementWhat is the most challenging type of property management?Key takeaways: What types of property management should SMEs know about?In the property management industry, owners and managers need to plan their approaches carefully and understand the kinds of assets they are administering to maximise rental income and perform effective maintenance. This is essential for choosing a management company that can attract potential tenants and ensure good profit margins on the investment.This article explores four key types of property that a management firm or manager candidate may be expected to fulfil. It explains some of the most important considerations that need to go into running the category of property and the types of buildings each classification covers. What is property management?Property management is the administration of different types of real estate assets, such as residential, commercial, industrial, and special-purpose buildings. The role of a property manager is to take responsibility for collecting rent, properly maintaining and ensuring security, and handling the correct administration of the building(s) on the owner's behalf. The main benefits of property management for the owner(s) are that they can hand the day-to-day running of their buy-to-let home or property portfolio to a responsible person with expertise in looking after real estate assets and ensuring that income is generated. Additionally, this helps to protect the value of the building or land by keeping it in good, occupiable condition. Residential property managementLooking after residential properties is a very common type of rental property management. This covers buildings and units that can be lived in by residents, such as buy-to-let homes, flats, and other private dwellings.As managers will be working with residents and people living in the building, they will need good skills in customer service, maintenance, and a good understanding of landlord safety responsibilities or managing regulated tenancies. They should also understand essential landlord-tenant laws that will affect residents being managed in the properties. Residential property typesRental property managers can be responsible for many different types of homes. Managers hired to administer rental properties in the UK will normally oversee the following types of buildings:HousesFlatsStudent housingRetirement propertiesHoliday rentalsPark homesTips for SMEsRental property management software can prove useful to estate agencies and property managers for overseeing and administering tenants across multiple properties. These include features such as maintenance, inspection and contract license management to correctly monitor the state of the structure and its habitability. Commercial property managementCommercial property management focuses primarily on retail sites where businesses operate. This kind of site administration is usually best handled by a manager with a good understanding of the needs of commercial businesses. It will often work with longer-term leases than residential estate agencies may encounter and may require more frequent communication with tenants.Managers looking after commercial property may also have to work closely with councils to ensure that buildings are kept up to standards and are operated in accordance with local byelaws. Additionally, they may need to provide assistance such as specialised cleaning services and maintenance.Commercial property typesCommercial properties can take many shapes and forms. They can either be spaces where goods are bought, displayed and sold, or sites and buildings where businesses are run from. They include the following:HotelsShopping mallsRestaurantsPetrol stationsOfficesCoworking spacesDid you know?Commercial property management software is specially designed to help commercially focused building managers and agents examine the potential ROI, manage essential documents, and create property databases.Industrial property managementFor this category of property management, owners often need to entrust managers with special responsibilities depending on what is being made or processed at the industrial facility. This could require them to have expertise in compliance of the handling and disposal of toxic or dangerous materials in some situations. However, in many cases, these responsibilities can be delegated to the tenants in the written lease.Additionally, due to the value of machinery, vehicles and raw materials left on site, security is an especially important concern for property management to deal with at industrial locations.Industrial property typesIndustrial properties are usually buildings or sites where manufacturing or goods storage and transportation take place. An industrial property manager could be responsible for any of the following sites: Heavy manufacturing facilitiesFactoriesWarehousesDistribution centresDid you know?Owners and managers of business properties must ensure they are clear about tenant responsibilities for health and safety and property maintenance in the lease for the building or site.  Special purpose property managementSpecial purpose property managers are responsible for buildings that can have a range of uses. These are most often locations used for live entertainment and religious gatherings, although can encompass leisure facilities like gyms and swimming pools, and educational sites like schools too.In the case of these types of buildings, many different responsibilities may fall on a property manager. This could include tasks such as front desk management, licensing and health and safety provisions, as well as the usual contract management, rent collection and maintenance expected from the job.  Tips for SMEsBusinesses managing special purpose properties like hotels and theatres can benefit from hospitality management software. This helps estate agents and managers address tasks such as front desk management, housekeeping, and reservations in addition to other common duties such as maintenance and employee management. Special purpose property typesSpecial purpose buildings comprise a wider variety of buildings than those seen in other types of property management. They can include:Care homesTheatresChurches and places of worshipLeisure facilitiesHoliday resortsSchools and universitiesSports stadiums and arenasWhat is the most challenging type of property management?All four types of property management present their own unique challenges. Nevertheless, in all cases, one of the biggest challenges of property management is maintenance and contract management. This can be especially tricky with industrial and special-purpose buildings, as more compliance concerns must be considered when preparing a lease. They also require managers with special skills to properly handle these extra responsibilities adequately. Key takeaways: What types of property management should SMEs know about?In this article, we’ve looked over four important and diverse types of property management that property firms may use. Each of the four categories covers a specific purpose that buildings or sites may be used for. In all cases, specific skills are required by estate agencies and property managers to manage them correctly. However, in some situations, specialised knowledge is necessary to ensure a satisfactory ROI and that government and contractual compliance are properly handled. Looking for property management software? Check out our catalogue. ## About the author ### David Jani David is a Content Analyst for the UK, providing key insights into tech, software and business trends for SMEs. Cardiff University graduate. He loves traveling, cooking and F1. ## Related Categories - [Project Planning Software](https://www.softwareadvice.co.uk/directory/453/project-planning/software) - [Project Tracking Software](https://www.softwareadvice.co.uk/directory/1606/project-tracking/software) - [Task Management Software](https://www.softwareadvice.co.uk/directory/1412/task-management/software) - [Time Tracking Software](https://www.softwareadvice.co.uk/directory/3834/time-tracking/software) ## Related Articles - [The state of mental health in the workplace](https://www.softwareadvice.co.uk/blog/2732/the-state-of-mental-health-in-the-workplace) - [3 Top-rated free HR software for small businesses in the UK](https://www.softwareadvice.co.uk/blog/3398/free-hr-software-for-small-businesses) - [39% of UK consumers think around half the reviews on seller sites are fake](https://www.softwareadvice.co.uk/blog/2701/uk-consumers-believe-around-half-online-reviews-are-fake) - [Which businesses benefit from cloud computing?](https://www.softwareadvice.co.uk/blog/3452/business-benefits-cloud-computing) - [What our 2022 findings revealed about consumer data privacy concerns](https://www.softwareadvice.co.uk/blog/3240/what-our-2022-findings-revealed-about-consumer-data-privacy-concerns) ## Links - [View on SoftwareAdvice](https://www.softwareadvice.co.uk/blog/3541/types-property-management-smes) - [Blog](https://www.softwareadvice.co.uk/blog) - [Home](https://www.softwareadvice.co.uk/) ----- ## Structured Data