What is the vocation called when someone rents or leases another's real property?

The vocation of managing the rental or leasing of someone else's real property is known as property management. This role involves overseeing residential, commercial, or industrial properties on behalf of the owner and includes responsibilities such as finding and screening tenants, collecting rents, conducting property maintenance, and ensuring legal compliance related to property laws and tenant rights.

Property managers serve as intermediaries between the property owners and tenants, ensuring that both parties' needs are met and that the property is maintained in good condition. This profession is crucial in the real estate industry, especially in rental markets, as it helps property owners maximize their investment while providing tenants with a well-managed living or working environment.

Other options refer to different areas in real estate: property assessment focuses on determining a property’s value, real estate brokerage involves facilitating the buying and selling of properties, and asset management typically concerns a broader financial oversight of various investments, not limited to real estate alone. Understanding these distinctions is essential when studying roles within the real estate sector.