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Many real estate brokers also operate as property managers. For example, a broker in a resort town may provide buyer's and seller's agent services, and it may operate as a property manager as well, maintaining a listing of vacation properties in the area. The property manager is typically responsible for budgeting expenses, securing renters, collecting rent, complying with laws and regulations, and maintaining the property. This includes preventive maintenance, repair or corrective maintenance, routine cleaning and maintenance, and construction, including tenant improvements when handling commercial or industrial space.
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