Property management OR project manager

[Brooks Everline]

So we are considering a mid sized multi in the Atlanta market...under 50 units. We would be buying from out of state and are seeking opinions as to which is more efficient; property management company to oversee the day to day renovations or a project manager...local GC? 

[Jeff B.]

Fundamental differences between a Property Manager vs a Project Manager.

1. A Project Manager manages "a project"; it happens to have a beginning, an end and a scope of work.  Projects undertaken by persons with this job title are typically very large and span multiple years, like Municipality projects.
2. A Property Manager will operate or manage a property to see that vacancies are filled and rents collected.  Unless specifically included in the agreement, a PM would not perform major repairs and certainly not take on a rehab assignment.

A General Contractor can be viewed as a Project Manager, but the time taken to complete is frequently measured in a few months.