History & Purpose of Property Management
Property Management originates in 1933 with the advent of the Institute of Real Estate Management which was formed under the National Association of Realtors®. It was created in order to serve several unique issues that were arising at the time. There were several distinct reasons why property management was at an increasing demand. Technological factors, absentee ownership, urbanization, multiplicity of properties owned by a single individual, primary career of the owner, time constraints, limited funding, and a wide variety of other issues made property management a necessity. The property manager was employed by the owner or representative of the property in order to handle the day- to- day affairs as well as making executive decisions that will increase the value and the money-earning power of the building. The purpose was to make the property and the surrounding community flourish continue to grow.
In 1987, a unique company saw the increasing need for this particular service. Cheryl Ighodaro assembled Precise Management Incorporated in order to meet the overwhelming demand. Developing Areas were now able to prosper due to the watchful eye of professionals that were able to increase not only the value of the asset but also its aesthetic appearance in order to create an appealing community in which to live and work. Precise Management Inc. has generated several new and innovative techniques that add an entirely new dimension to this lucrative and competitive field.
In 2007, Precise Management has celebrated its 20th year providing superior service to several communities. As a senior company in the field of property management, PMI will continue to serve the community and building owners to increase the value of these assets and preserve the efficiency in which they operate. PMI is looking forward to continue in building its long list of clients and serving them in the most effective way possible.