What is the financial and operational strategy for managing a property called?

The term that refers to the financial and operational strategy for managing a property is called a management plan. A management plan encompasses various aspects of property management, including budgeting, maintenance scheduling, tenant relations, and overall operational procedures. It serves as a comprehensive framework that guides property managers in their daily activities and long-term goals. The management plan is essential for ensuring efficient operation, maximizing property value, and achieving the objectives set by the property owner.

While other options might seem relevant, they do not capture the full scope of the responsibilities and strategies encompassed in a management plan. A revenue plan, for instance, focuses specifically on income generation aspects, without addressing the broader operational strategies. An investment strategy pertains more to the financial aspect of property acquisition and growth rather than day-to-day management. Resource allocation is an important component of a management plan, but it alone does not encapsulate the entire operational strategy required for effective property management.