Final answer:
The term for the activity focused on property leasing, managing, marketing, and maintenance is property management. This includes adhering to zoning laws and engaging in contracts related to property ownership.
Step-by-step explanation:
Activity devoted to the leasing, managing, marketing, and overall maintenance of property for others is called property management. This involves a wide array of responsibilities, such as collecting rent, maintaining the property, and ensuring that the activities conducted on the property comply with government regulations like zoning laws. Since the adoption of the first zoning ordinance in New York City in 1916, these regulations have become standard across urban areas in the United States. Moreover, owning property gives individuals and firms the ability to enter into contracts regarding that property, underlining the significance of the right to own and manage property.