In addition, a good management company brings its know-how and experience to your property, giving you the peace of mind that comes with knowing your investment is in good hands. Finally, a management company is an independent contractor, so you avoid the hassles of being an employer.
Type of things that a Property Management Company will do are:
Maintenance and Repairs
- A weekly property check. During this time they normally test and check all inventory items, structure, gardens, and air conditioning units. They also air, empty dehumidifiers and check security systems.
- They provide a network of vetted and trusted contractors who offer good pricing and a high standard of work.
- They assign and oversee 3rd parties for jobs such as swimming pool care, pest control and security based on price and standard.
- They are available 24 hours a day 365 days a year for any small or emergency repair.
Maintenance of outdoor areas
- Gardening maintenance requirements and Landscaping
- Maintenance of Swimming Pools & Decks
- Driveway - Car park
- Management of Pest control.
- Ensure waste removal
- Provide preliminary cost estimates
- Recommend 3rd party contractors based on previous work history.
- Get multiple costing from independent contractors for works.
- Oversee that all work is completed within an acceptable standard.
- Keep client fully informed throughout the process.
- Initial budgets prepared and discussed. Cash flow and payments are agreed, those should include provision for incidentals.
- Make all payments on behalf of the property owner. This includes any utilities, services, common area fees and insurances (building, contents, boat and vehicle).
- Complete and concise monthly cash flow reports.
- Maintain and file all historical records including invoices, receipts, warranties, rental agreements, inspection reports, etc.
As you can see they provide a wide range of services. Most property management companies will structure a management package suitable to your needs, but the guidelines above should assist you when you are assessing the correct company to appoint.