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Property Management Tips


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    Today many people prefer to live in buildings and condo high-rises due to the several facilities involved. Those who live in their own homes need to spend their time, money and efforts on the regular maintenance and upkeep of the property and car storage areas. In our busy life today, it becomes extremely difficult to handle the additional responsibilities of managing the buildings. Building management is a new concept and is offered by many companies who provide the services of management of properties. There are many buildings which have more than 20 units and need to be management efficiently. Management is specifically required for the common areas that include stair cases, lawns, gardens, terraces and also pathways. In such cases, it is not possible for the owner of each unit to take care and manage the whole building premises. Under such situations, the services of the management companies are required. These companies usually have their own methods of managing the units and common areas of the property. The first task that any company which offers the services of building management is the appointment of a manager.

    The appointed manager first checks out the property in order to understand the requirement and the kind of services that he may be required to perform. He makes an assessment of the property and reports back to his employing company with details and other formalities. The next work he does is the arrangement of a meeting with the residents of the buildings, to know more about their requirements. A mutual agreement is made on the works that need to be done and the fees that shall be charged by the company offering the services of building management . Once the legal formalities are done, the manager takes over the assignments and starts his work of management of the property.

    The manager of the property looks after several things beyond the management and maintenance of the property. It is his duty to see that there is a good client and tenant relation and living conditions are cordial. He tries to minimize the cost of maintenance of and increase the profits of the investment, as much as it is possible. Managers are often responsible to see that there is no discrimination between anyone living in the buildings on the basis of race, gender, race, physical disability and even sex. All individuals who are involved in the management of properties should follow these rules of living. Building management is not just about managing, repairing and maintaining the building units, but also involves taking care of all the needs of the residents.

    The contract entered between the residents and the management company, often lays down general rules about building management . It is normally mentioned in the contracts that repairs and maintenance should be carried on as soon as possible so as to provide maximum comfort to the residents. There may be major repairs related to the property such as leaking pipes, electricity problems and heating or cooling problem, which need to be tackled within 24 hours, since these are the basic necessities for living. The manager of the property needs to inform the tenants, about the exact time and duration in which repairs and maintenance shall be carried out so that they can make arrangements accordingly. An open line of communication becomes extremely important in these cases between the manager and the company.

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    Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.