What key principle does property management revolve around?

The core principle of property management is fundamentally about balancing the interests of property owners with those of tenants, which is encapsulated in the choice that focuses on maximizing property value while ensuring tenant satisfaction. This approach emphasizes the importance of maintaining the property's worth through effective management practices such as regular maintenance, effective tenant relations, and strategic marketing.

Maximizing property value involves enhancing and preserving both the physical aspects of the property and its market position, which can lead to increased rental income and investment returns for the owner. Simultaneously, ensuring tenant satisfaction is crucial for maintaining high occupancy rates and reducing turnover, which can otherwise incur additional costs and impact the overall profitability of the investment. This dual focus promotes a positive living environment for tenants while also protecting and enhancing the owner's investment.

In contrast, the other choices do not align with best practices in property management. Reducing occupancy rates would typically lead to decreased income rather than higher profits. Eliminating maintenance costs completely could lead to deterioration of the property and dissatisfied tenants, ultimately harming property value. Limiting tenant rights may create a contentious relationship with tenants, leading to higher turnover and potential legal issues.