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A property manager or estate manager is a person or firm charged with operating a real estate property for a fee. The property may be individual title owned or owned under the sectional title, share block company owned, and may be registered for residential, commercial office, and retail or industrial use.
City of Los Angeles), claiming the City's affordable housing zoning requirements in the Central City West specific plan violated the Costa-Hawkins Act. [14] In 2009, the California Court of Appeal ruled that "as applied to Palmer's proposed project, the affordable housing ordinance conflicts with and is preempted by the vacancy decontrol ...
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The property owner in this case signs a property management agreement with the company, giving the latter the right to let it out to new tenants and collect rent. The owners don't usually even know who the tenants are. The property management company usually keeps 10-15% of the rent amount and shares the rest with the property owner.
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