The classic property such as Keyrenter Houston Local Property Management Company tasks can be divided into technical, commercial, and economic tasks. In technical property management, the main focus is on maintaining buildings and systems and modernization (here, the energetic modernization or renovation of older buildings is essential). It is the manager’s core task: to get an enduring impression of the property’s condition and identify any problems at an early stage, and, if necessary, remedy them. If a repair or other maintenance work is due, the administrator takes care of the tender for the measure and hires the appropriate craftsmen.
Identifying defects early is crucial to keep subsequent maintenance costs as low as possible. Therefore, our administrators are regularly on-site and assess the current condition of the property. In addition, we react quickly in the event of damage and thus prevent a small leak from turning into significant water damage.
Economic property management is essential for residential owner associations. Here is the administrator’s task: to check incoming invoices, pay them, and record them in the accounting of the WEG. In addition, the administrator creates a house fee statement with a precise list of the personal expenses after each year. According to the allocation key, the settlement also includes the allocation to the individual owners. A new business plan for the coming year is also being prepared in advance. The planned renovation costs and other expenses are broken down based on previous years, empirical values , and obtained offers. The expected costs for the owner (household allowance) are calculated.
The third area of responsibility includes commercial administration. In addition to looking after funds and maintenance, the administrator’s tasks also include cost optimization and the processing of damage claims with insurance companies or in court. The administrator can also represent the condominium or the owner towards tenants/owners who are in arrears with their payments or who do not fulfill their obligations in the community. In particular, the constant optimization of contracts for gas, electricity, and water can save real money for residents.
What Are The Duties Of A Property Manager?
- management of the common property
- proper accounting of all cash flows
- the creation of an orderly annual statement of the income and expenditure of the community of owners as a total statement and individual statement for each owner
- the preparation of an annual business plan
- the preparation, convening, and holding of owners’ meetings
- the monitoring of insurance and supply contracts, caretaker services, and tradesman services
- invoice control and payment security
- technical checks for the early detection of necessary repairs
- Awarding of orders for decided repair measures
- the initiation of immediate measures in the event of an accident
- ensuring compliance with maintenance intervals
- monitoring and enforcing house rules