What is property management? It is the professional oversight of every aspect of a rental property, from tenant placement and rent collection to maintenance, legal compliance, and financial reporting. Behind it is roughly 30 hours of work every time a tenant turns over, 2 to 3 hours of ongoing management each month, and a constantly shifting landscape of California rental laws that can cost landlords thousands if they get it wrong. This guide breaks down what a property manager actually does, the skills required, the most common mistakes first-time landlords make, and how to know if hiring a property manager is the right move.