If you are a long standing property owner or have recently purchased a property and are thinking about a property management, there are large arrays of companies that can offer you services. But how do you choose the right one? Do you base this on price, proximity of their offices, advertising? Information gathered and digested is never a waste of time, so choose a reliable and reputable company that is clear on its approach, what they will do for you and the services that they can perform. Take our "Lucky 8" checklist below for example.
Sole point of contact for any issues relating to your property, and of enquiries of the owners. A responsive approach to these contacts offering informative and relevant solutions to the queries. All delivered by a multi-lingual team that can communicate effectively, whatever the topic. The knowledge that they can offer will be invaluable to you when needed. Choose wisely.
Key management – to act as a point of contact for your properties keys, for tradesmen access, guest access or in an emergency. Not all management services provided to owners are inclusive of all of these services. Please check that all keys are safely and securely stored. Reliability and responsiveness are what you are looking for.
Scheduled inspections of your property based around it’s occupancy to perform important checks relating to security, maintenance issues, cleanliness, appliance testing and to generally air out the property. The weather and other factors take their toll on every property and these inspections are to be followed up with a detailed report of any issues that have arisen, actions that are required, or suggestions as to the experience of potential guests.
If you have “Guests” in your property. They must be treated as guests… Guest services is a branch of the hospitality industry that most forget when looking for property management. Your guests are your family/friends, and/or your income, they deserve to be treated as such, and therefore no matter what, your property management company should treat them with as much diligence as they would the property owners.
Services – The better the management company, the more the services that will be offered. Before choosing a property management company, take time to investigate which services they perform, and what you are actually paying your management fee for. All too often Owners join a management company unaware of the hidden extras. Transparency here, and with the services that the management company can perform are key.
Responsive maintenance repairs and quotes for works – Effective communications are important in providing an efficient and cost effective solution to all maintenance issues. If general works are to take place, the owner is to be contacted in advance, and if larger works are required, expect to receive quotations in advance. Any emergencies that occur should be organised on your behalf as part of your management agreement.
Property consultations and suggestions for improvements – Your property needs constant supervision, and care. The management company should be in constant contact, advising of issues or offering suggestions as to maintain or improve the standards of the property in order to give the best property experience possible. Do not just let the management company sit back and relax. Ask for property consultations or improvements suggestions. If the property management company cannot do this, then they are not the right ones for you.
Package services – Beware a “one size fits all” or “packaged” service. You, your property and your property use are all unique. A generic package that is offered will not necessarily suit your needs. Look for a property management company that will offer a tailored service, and design your management package around your needs and that of how you intend to use your property. By gaining this bespoke service, you will always be happy with the results, as you are fully aware of what is being managed.
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