The present paper examines the connection between building and property management and building management system. It provides an insight into the concept of building management. Building management is a particular economic activity, a set of property maintenance, operation, repair and maintenance. This is a legal and technical set of operations required for building maintenance and preservation of usable condition, as well as functionally required for the maintenance of the land to ensure that property is used in accordance with the purpose. The aim of the paper is to conduct a literature review of different approaches to defining building management and building maintenance. Through the analysis, common themes identified are a number of terms and their definitions that appear in studying building management and maintenance processes. The continuous growth of socially responsible building management indicates that there is a need for a more effective management system of the building lifecycle to provide sustainable residential property development.