Property management companies usually do not only provide the service of looking after your property, although that is of course their primary function. This means that they make sure that the property not only looks good, but is in full working order. They make sure that they administer and manage any other companies’ services, such as contractors, to ensure that they do the job that is expected of them. They also make sure that they carry out inspections at regular intervals in the properties to ensure that they are safe for the tenants, whether the tenants be private or commercial. Property management also, in some cases, means looking after the financial side of the property, in collaboration with the owners, and they are also the face to face contact with the leaseholders or rent payers. There are more things that they can do though, and this will include giving informal advice on company law, leasehold law, freehold compliance as well as breaches and covenant. They are usually or have usually employed experts in this field too. They are the major liaison with contractors as I mentioned before and are also the liaison between the owners and any developers. Property managers can start the management process as the buildings are being developed; they do not have to wait until they are up and running. They can be part of the process from the very beginning.
Property Management Companies usually have expertise not only in managing an already built property but also in one being developed
December 21, 2011 by admin
December 21, 2011 by admin
What is Property Management and do you need it? That depends of course on what property you own and whether you just want to own the property and have nothing to do with its management or its leaseholders or tenants, or whether you want to be more hands on in knowing what is going on with your property. It also depends on whether you wish to pay for the services of a property management company or person. If you have a selection of different properties in a variety of areas or if you own a block of flats or two, with tenants in each flat, then you might be too busy to oversee the day to day management of these. With tenants, inevitably there are problems. With flats, inevitably there are things that need fixing, leaks that need plugging or people that need managing. This is what is known as Property Management. The Manager is essentially like any other manager in that he or she manages everything to do with the building, whether that be the personal property, the equipment or the people employed to maintain the upkeep of the building. If you are too busy to do all this yourself, you may well want to employ a property management company to do it for you. They do all of this and more. If you find a good one, you are likely to be able to relax and know that your building and its tenants are well looked after.