If you own a wide range of residential properties and cannot service them all, there are companies that specialize in servicing residential properties. These companies are experts in managing any type of residential property, whether it be multiple stand-alone units or apartment complexes, and they operate under the direction of management companies.
Since the property manager sent by the management company is your representation to the neighborhood, it is your duty to attend board meetings and make recommendations to the board on your behalf. This is only appropriate considering that the property manager is the one in the field and knows best what tenants need. They are also responsible for subcontracting to other companies to perform jobs that are essential to the cleanliness and safety of the community, such as gardeners and security guards. Additionally, if there is a call for improvement to the property, it is also at your discretion to respond or deny this based on several important factors.
Management companies can also manage your vacant vacation homes. It’s part of their job to keep your property safe and clean while they find people to occupy it so the cash can keep flowing. They will do all the paperwork and take care of legal matters, and will constantly strive to further improve the services offered to tenants. This is done through feedback forms and suggestion boxes that are readily available to renters.
In addition, the collecting societies execute the laws and regulations approved by the board, be it the collection of fines and surcharges for late payments and curfews, etc. It is your duty to maintain normal operation, as well as have security and emergency personnel in case something unforeseen happens. As a responsible landlord, it’s important that you provide tenants with peace of mind and a peaceful life, and your management company should reflect this ideal as well.