About Property Management

Management of commercial and residential properties implies property management . A property manager handles different activities such as advertise vacant units, process applications, accept rent payments, address maintenance issues and maintain the financial and property records for the properties.

Both property owners and landlords employ a company for maintaining the property and to handle the above tasks. Also they pay some amount from the total rent collected, may be between 3-10% , before deductions.

Maintenance of the property is one of the tasks that the property management company handles. Making the properties safer, extend the life of the property and save costs depend on property manegment. All properties require maintenance which is one of the major duties of the property manegment person, no matter if they are commercial or residential.

Each property is different , due to age or other factors,and may need various degrees of maintenance.An inspection should be performed to list any deficiencies that need to be addressed, before a tenant moves into a property or the unit is advertised as vacant. This will provide you an estimate on the timeframe on when the unit will be ready for leasing. It will allow you to fix and issues before the tenant moves in to the unit which is the other benefit of performing the inspection is that . It is more challenging to get access and maintain the unit, once the tenant moves in. It also can keep the tenant from developing a negative impression on the quality of the unit. The maintenance required for a unit ranges from small repairs to major problems. Small or large painting, plastering, plumbing, electrical and gardening projects can be some of the different types of maintenance requirements.

Building repairs are some of the major repairs that that can be required when maintaining a property. Building repairs covers both interior and exterior areas of the building. They range from window replacements, brickwork, mildew, foundation, floor replacements and plumbing pipe replacements. You also have to determine the root cause for the failure to ensure that the repair addresses the failure cause ,When addressing these repairs. The repair will be required again sooner than necessary, if you do not address the root cause.

You will also need to ensure that the electrical system is in good working condition,When maintaining the property. Minor tasks like changing light fixtures to a complete electrical rewiring of the unit are some of the repairs that may need to be done. Properly maintaining the electrical system of the unit will increase the safety of the unit and minimizes electrical problems which is an important thing to be noted.

Roof is the outside of the unit that requires maintenance . It needs to be replaced depending on the condition and age of the roof. If there has been regular maintenance performed in the past, the repairs require only minor patching or replacement of roofing shingles. It is imperative to identify the source of the leak as soon as possible and to properly repair it, once a leak has been identified by the tenants.