Commercial Property Management - Essential Maintenance Practices Part 2

In continuing the tips for managing the maintenance in a commercial or retail property here are some more ideas for commercial property managers and landlords.

The permitted use relating to tenancy space and tenant occupancy under the terms of each and every lease, should comply with the property occupancy certificate. Normally this will occur although the use of the property by the tenant can be overlooked in its compliance with the issued occupancy certificate. Any threats or non-compliance will expose the landlord to risk and litigation. The property manager should ensure that matters of compliance are adhered to when it comes to these things.
Energy management is today becoming a critical component of outgoings costs and outgoings management. Importantly the managed property should comply with achievable energy management and saving processes to help maintain realistic levels of outgoings charges for the tenants. There are various ways to handle energy management using devices, time clocks, and the latest technology controlling the plant and equipment in the building. Engineering consultants can assist the landlords and property managers to understand strategies within this process relative to the particular property.
Contracts management within the managed property will be ongoing and should be looked at at least every 12 months. Essentially the contracts for maintenance procedures within the building and with the essential services should be regularly assessed for cost efficiencies and code compliance. In some managed properties it is not unusual to put the major maintenance contracts to tender each period of 12 months. This maintains some semblance of cost control for the landlord.
When it comes to the maintenance costs and controls within a managed property you will find that averages exist between properties of similar type in your local area. As a direct result, these averages should be understood and researched so that your managed property does not exceed the expectations of the market and the averages in comparable properties. It is very difficult to lease a property with high levels of outgoings costs. It is also very difficult to sell a property with high levels of outgoings costs.
The outgoings for a building should be budgeted on an annual basis by the landlord and or property manager. The budget should take into account the trends of maintenance expenditure locally in comparable properties, and the physical demands of maintenance within the given property. When the budget is set, it gives you a benchmark to work to throughout the year; the budget is an expenditure control tool. The budget should also allow for some unexpected repairs and maintenance breakdowns in addition to the expected and planned maintenance events. Any matters of a capital expenditure nature should be removed from the normal expenditure for the building as capital items would normally be depreciable under the local tax laws.

If you want some more tips and ideas to help your commercial or retail property management processes, you can get a free eBook of tips and tools at http://www.commercial-realestate-training.com/

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Original article

Commercial Property Management - Checklist for Property Management Handovers

When you take over the management of a commercial or retail property today, the information that you gather from the outgoing property manager or landlord will be critical to the establishment and future success of your property management processes.

Information is Critical

Lack of information in the handover process means problems and potential errors in the future. On that basis you should have a specialised handover process that you can implement on and with the handover of every property type within your local area. A checklist will help your activities as you bring in the new property to the management portfolio.

Here are some ideas to incorporate into your handover checklist:

Get complete and comprehensive details of all leases and licensed occupied areas within the property. You will need to check these against the tenants physically in occupancy and the rental invoices that are raised for tenancy payment. Everything has to cross relate accurately.
Copies of lease documents should be checked against the original documentation. Also look for side agreements for any extension or variance documentation relating to the original lease.
Copies of correspondence relating to existing tenancy matters should be handed to you. Ask for this specifically and drill down on the details of each matter.
Get copies of the current rental invoices and cross reference these to the tenancy schedules for the property. It is not unusual to come across in errors in the tenancy schedule or the rental invoices.
The tenancy schedule should be checked against the actual leases and other occupancy papers and the signed documentation between the landlord and tenant.
Check all outgoings charges and expenses that are applied to the tenancies within the managed property. The charging process should be shown on the rental invoices; you will need to check this amount and the process of recover that is adopted. It is not unusual to see errors in the outgoings recovery with tenants in managed properties. The process of checking will involve you getting copies of the current outgoings budget and the recent outgoings reconciliation.
The arrears that apply to the property and any tenancies should be identified as part of the handover. They are sometimes discharged at the time of settlement, although the question should be raised in case you are taking over the ongoing pursuit of the arrears with any existing tenants. If that is the case you will need copies of all previous correspondence and claims.
Current vacant tenancies within the premises may be the subject of lease negotiation. You will need copies of the lease offers that are or have been made and the status of the existing negotiations.
Details of the maintenance issues within the building will be required. The essential services within the building will be critical maintenance contracts to identify early in the Handover. Any threats to the stability and function of essential services should be identified and addressed immediately. The maintenance contractors for the building will understand the function of the existing plant and machinery; get details of these contractors and then set up meetings as quickly as possible.
Ask about any orders or notices that apply to the property or any part thereof. Check out any encumbrances, rights of way, or easements that apply to property usage.

So these are some of the main items that apply to the property management handover process. There will always be more issues and items to look at although these items listed above are the big ones to immediately get under control.

If you want some more tips and ideas to help your commercial real estate agency and convert more opportunity into listings and commissions, you can get a free eBook of tips and tools at http://www.commercial-realestate-training.com/

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Original article

Commercial Property Management - Essential Maintenance Practices Part 1

When it comes to managing a commercial or retail property, maintenance aspects must be well controlled and actioned. Failure to do so can see the property manager and or landlord exposed to litigation.

The visitors to a property and the tenants within the property expect safe usage and access. This is where maintenance management is integral to the property management strategy implemented by a real estate agent on behalf of the landlord.

Maintenance is important; a landlord should choose an experienced property manager and a real estate agency that understands the property type and the required maintenance management processes. It is quite incorrect and counterproductive for the landlord to choose a property manager based on low fees; the best property managers cost money, but the service and attention to detail for landlords is far superior. This allows a property to function well and improve financially.

Here are some of the main maintenance concerns and strategic practices involved in commercial or retail property management today. They are:

The tenants within a property should understand how to connect with and contact the property manager when any maintenance events arise. In most circumstances maintenance will be of an ordinary nature and repairs can be undertaken within a few hours or a few days without threat of injury or danger. A paper trail is important here when it comes to maintenance response and actions taken. A paper trail will help protect you in cases of dispute; always keep good records.
Unplanned major maintenance events can expose the landlord and property manager to legal pursuit and litigation. In simple terms, if the maintenance failure of the property can injure any person or disrupt occupancy, then matters of response and safety need to be strategically implemented immediately.
The terms and conditions of most leases will place obligations on the landlord to undertake the maintenance work in a timely way. Check the lease to see what it says in this regard.
Every property under management should be inspected regularly and frequently. At the time of inspection accurate notes and records should be kept. This will also involve photographs of any damage or circumstances, and any associated interviews with tenants as required. In situations of major property breakdown of all maintenance failure, the records of previous inspections will be critical to support the investigation and possibly protect you from litigation.
Matters relating to workplace health and safety and risk management within the property should be carefully managed. Specialist contractors should be engaged to implement the necessary maintenance procedures with the buildings essential services. In most cases log books are required to allow compliance with property and building codes. Do not overlook the tenant occupied space in this regard as the tenants will have compliance issues to deal with.

If you want some more tips and ideas to help your commercial real estate property management, you can get a free eBook of tips and tools at http://www.commercial-realestate-training.com/

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Original article

Advantages and Disadvantages of a Fixed-Priced Property Management Service

Fixed-price is one of the two types of property management services that you can get, but there are still a lot of people who are not aware of the things that they can get from this kind of this service. Today, I will be helping you to learn more about it by showing you the advantages and disadvantages of a fixed-price property management service. If you want to learn more about it, then you definitely need to read this article. Read on to learn the advantages and disadvantages of fixed-price property management.

Advantages of Fixed-Price Property Management

If you are going to hire a company to management your property, you will be asked whether you want to pay them through commission or fixed price. If you choose to pay them cash every month, you will then be asked to sign a contract that could last for years. Upon signing, you are authorizing the company to manage your property by paying them a particular amount, regardless of how much money your property generates. If you are expecting your property to generate a lot of money, this option would be the best for you, since it will allow you to make more money without spending time on it.

Disadvantages of Fixed-Price Property Management

As I have said, the fixed-price will require you to pay a particular amount regardless of how much money your property generates. If your real estate generates smaller than what you and the company has agreed upon, you will be losing a lot of money. What makes things worse is that you signed up a contract that requires you to pay them for years. This could result to more loss than the actual income that you can generate from your property.

The choice between a commission-based and fixed price property management depends on the condition of the real estate that you have and the level of income that you are expecting from it. Both options work for you for as long as you picked the best property management company in your area. However, you still need to be very careful with the option that you will be choosing, since it can make or break the amount of money that you will generate from your property. It would be better if you are going to conduct a research before deciding the type of service that you will get to be sure that you will get the most out of the real estate that you have.

If you are still in search for the best Property Management Minneapolis MN that can provide you with exceptional services, then you need to contact us now! We are the best Property Management Minneapolis MN, and we will help you find the best option for your properties.

Original article

Commercial Property Management Services

Maintaining your commercial property properly takes a lot of time and dilerberation in order to complete the day to day hassles that come along with property ownership. Many business owners overlook the effort that is needed to put forth to simply keep the foundation running smoothly and only think about the big picture. It takes no more effort than hiring another employee for your company to inquire about property management services and get back to that worry free mindset you initially had when opening the sprouting asset. After all, what is the point in owning your commercial property if you have no time to reap any benefits between handling the finances and day to day struggles?

Commercial building owners have much more responsibility than your common clothing or grocery store owner; therefore, the help of a property management service is essential and in many circumstances deemed mandatory for the property. The 24 hour a day commitment to tend to any unexpected arising problems will be the back bone in your structure. The space to allow you a family get away or a dinner out with your closest friends while having full confidence that the management team will be on immediate duty upon any direct notification.

More involved services than the promise of keeping all the parts of your commercial building functioning adequately that they provide are the attendance to all board meetings on your behalf to make sure that the structure is accomplishing exactly what you want. Not only are your thoughts crucial in these lengthy meetings, but so are those of the people who are present. Composing these ideas and thoughts for improvement from the people and analyzing then relaying them to the commercial owner makes for an ideal business. Among the ideas of all there will be positive ones, but also irrelevant non-beneficial ideas that can be sifted through in these meetings as the management services allow opportunities for bids and making sure every complaint is recognized.

Without a head present that is taking control of the board meetings and working behind the scenes with the finances the structure can go array. Commercial property management services vouch to enforce all predetermined rules and keep an eye out for those overlooking the set guidelines. These management services stay in such close contact with the property that you will never have to worry about things getting over looked - big or small.

Original article

The Basics of Property Management

Purchasing properties for the purpose of renting them out has become a good source of income for some individuals. This article takes a look at the basics of rental management for those who are interested in entering this venture.

What is property management?

Property or rental management, as the name suggests, is the process of taking charge of real estate, be it for residential, commercial, or industrial purposes.

Managers are either the owners of the properties being offered for rental or third-party individuals who are tasked with overseeing the care and maintenance of the rental properties in behalf of the owners.

What do property managers do?

Property and rental managers are given several tasks, which can include:

• Maintenance of the property. No tenant will want to stay at a ramshackle residence or place, so it is the manager's responsibility to make sure that the properties that are being offered for rental are well-maintained.

• Getting tenants. One of the main responsibilities of property or rental managers is to make sure that the rental properties are occupied by tenants, which is why they are also responsible for finding good tenants who will not only occupy these properties, but take care of these well.

• Collecting rent. Not only do managers need to make sure that the right amount of rental fees are being paid by the tenants, they will also need to ensure that they are paying these regularly. Property managers should always be on the lookout for tenants who make delayed payments.

• Handling any issues that may be experienced by the tenants about the property. There are several issues that may be experienced by tenants during the course of their lease, such as busted pipes, peeling paint, and other such maintenance problems. The manager is responsible for seeing that these issues are resolved quickly and effectively.

Is it better to do property management yourself or hire someone to manage the property for you?

It depends on where you are, since there are some states that have imposed regulations on who can work as property managers. In most states, only those who are licensed real estate brokers can work as property managers. Alternatively, those who aren't real estate brokers can work under these professionals in order to continue practicing.

Practicality-wise, it's better for those who already have experience in management of property to maintain the property and take care of all of the necessary tasks in managing it instead of someone who doesn't have that much knowledge in it. This is because someone who has already managed properties in the past will already know what possible issues or problems may be experienced by the tenants, and will thus be able to come up with remedies to fix these.

Property management can be very profitable, but this isn't necessarily the best career path for you. If you're interested in entering this industry, be sure to check what your options are and do some research about this so you can better prepare yourself for the work awaiting you.

Do you need property management? Click here to get San Bernardino Property Management

Original article

Leveraging Web Technology to Streamline Property Management

As improvements in web technology and browser innovations advance web applications from online brochures to rich interactive programs, it is important to consider how their eventual takeover of traditional desktop applications can improve business methods. An efficient business spends more time increasing profit and less time handling customer support issues. In the property management profession, this is especially true. Issues such as a broken dishwasher, a misplaced key, or a dispute over property damage charges often deeply involve more than one party, it is more imperative than ever to have a cost-effective method of communication that simultaneously leverages your staff, and requires as little maintenance as possible.

Why A Web Application?

I came across an interesting problem when I began my property investment business a few years back. I had purchased a few fixer-uppers, restored them, and rented them out. For the most part, things were fine (minus a few issues that arose here and there). I kept a copy of all the finances with Quickbooks, organized each tenant's records into folders, dealt with property issues as they came along, and ran a report with an excel spreadsheet. In fact, things were going well enough that it prompted me to ask my aunt (a real estate agent and property manager) about starting my own property management business. It seemed simple enough; the volume of records would increase, and the accounting involved a few more zeroes, but that's why we have computers, isn't it?

To my surprise, she advised against it. Property management was a daunting task for her company, and she had a staff of 6 people working under her (they originally only engaged in real estate buying/selling; the occasional property management duties geared on the side to pick up more business). She handled about 30 properties for some clients and a few family members. I was skeptical at first, seeing as how they utilized the exact same tools as I, only they understandably had more of them: the latest version of Quickbooks, large filing cabinets, several powerful Dell computers networked on a company server (using a networked Excel spreadsheet to keep track of issues as they came along). Perhaps her company wasn't using the correct tools, I thought. I then contacted Darryl, an old client of mine who trains about 700 property management agencies and individuals (though the training is primarily concerning how to comply with California landlord laws). To my shock, he told me that his clients use Quickbooks, a large filing cabinet and a computer server with a networked Excel spreadsheet! At that moment, I concluded the answer lies in a web application.

I used to be a server administrator with experience in developing Content Management Systems for legal and medical firms. Surely, the same advantages would carry over to resolving property management issues?

Advantages

Web applications are inherently networked. Everyone sees the same problem at the same time. When you have a central communication system delegating messages from one user to another, it resolves one of the biggest communication headaches any business has to deal with.

Web programming technology has also made possible rich internet applications whose functionality far exceeds the capabilities of a networked Excel spreadsheet. You can designate permissions to each user; you can implement custom data exchange; you can make data entered by one user interact with data from another user; and you can make that data react to each user differently. But perhaps the most overlooked advantage is that you drastically reduce the amount of time you spend on the phone with customers!

For example, let's say the tenant has a problem with the sink. You create a portal account for them, allowing them to report the problem directly from their computer or smart-phone, and that information gets logged into a central list of workorders to be completed. One of your staff views the problem, adds a note to it, and then contacts the contractor. The contractor arrives on-site, checks the workorder with his laptop/smart-phone, adds his own notes, all the while another staff member views the update, and adds their own notes. The contractor takes a few photos, creates an invoice, documents the issue, and the tenant can see the workorder's history immediately.

A communication system like this, coupled with a bill manager, an audit trail, a report generator, a dispute archive, a photo log, and a quick way to instantly back up everything into one convenient file sounds like just what my aunt and Darryl needed. Not only could they could access the control panel anywhere, they also didn't need to install any software since the application is entirely web-based. Any changes made to the application take effect immediately for every user accessing it. You can imagine how much time this would save for a property management firm with a staff of twenty-five, handling over 1000 properties.

Of course, one can never entirely take out the human element of the equation. A few phone calls here or there will no doubt be inevitable, but I believe that even in such cases, a network-based property management communication system would greatly expedite resolution with far greater efficiency than 10 file bins, 20 different copies of Quickbooks sitting on 20 different networked computers trying to fumble with an Excel spreadsheet.

I quickly got to work and presented my solution to them. They are all currently using it with great joy, as are their tenants, property owners, and myself included. It's been so well-received that I decided to publicize the principles behind its virtues, not to mention the web application itself.

Please visit our website http://www.rentprosolutions.com/ to learn more. We hope it helps you as much as it helped us.

Original article

Community Property Management Services

Your stomach turns in annoyance as you're greeted in your neighborhood by the hideous sign stapled to the oak tree reading, "Home owners association meeting Thursday." All the neighbors murmur with similar annoyance as you sit around the pool complaining about the lack of time you have and wonder how a gap will open to allow you to sit in this monotonous meeting. As many neighborhoods want the luxuries that their picture perfect community provide, they don't have the time to be a part of the leg work to keep it maintained. For this reason, property management services have collaborated to form the ideal corporation that allows for a charming neighborhood while taking care of the stress and boring aspects that will unfortunately always be present.

Most residents want to be a part of the neighborhood's improvements, but with time not on their side they can not. Community property management services make voicing your thoughts for improvement simple. They are always available for suggestions and set up ways for you to contact them whether it is in person or an anonymous letter. Running your community the way you want is their ultimate goal; therefore, they will organize ways for you to bid on your recommendations and have your thoughts voiced in meetings. As the presence of the management service is their commitment to fulfilling their job, they will be able to inform you of every step that is being taken and make sure you are notified of each meeting.

Aside from suggestions and complaints, their service offers a secure place for all the resident's official documents pertaining to the community. They will keep a hold on all neighborhood finances so that the improvements you wish for can come to fruition with proper use of the money. Along with the paperwork comes lengthy lists detailing compliance guidelines that many people fail to recognize. Money must be put aside for certain improvements that are mandatory and these services make sure they are not a penny short for these expenses.

Free your mind of the problems that could arise in the day or night in your community because property management services vow to come to charge at any time of the day. Stay an extra hour at the neighborhood pool and let their services worry about enforcing the rules to the teenagers under the blue umbrella who consistently break the community rules. It's your community, make the best of it and let the professionals handle the rest.

Original article

Residential and Commercial Property Management Services

You smile with satisfaction as you leave your commercial property as a memory from just a year prior of this engagement floods your mind. Last year at this time you were leaving your stressful job to come home to manage the finances and rummage through piles of complaints and suggestions. Not to mention having to come home to your residential property and deal with your household and neighborhood duties as a homeowner. Upon discovering a property management service for residential and commercial areas you were finally able to leave work without taking it with you throughout the rest of the evening.

These services graciously offer home owners, commercial property owners, or both the opportunity to pass on the paperwork and create the ideal place to live or work in. When you are working toward your daily goal, they are working to strive for excellence in the community. There is never a moment of the day these services aren't available for your attention. There is no way to predetermine whether something will need immediate repair so property management services have no hesitancy to commit to their 24 hour service any day of the week.

In order for these services to complete their duties to the fullest and understand what the community desires they attend all board meetings to get a full grasp of the needed improvements. They will organize meetings and undoubtedly listen to every person involved. By creating bids for individual topics, each suggestion is adhered to equally and fairly. They encourage your ideas and invite you to share them so they can help to voice them in meetings that you may or may not be able to attend.

While dealing with the aspects to create an ideal environment for all they will also use their time to manage the financial portion that comes with property management. When improvement suggestions are passed there are numerous documents that call for attention which will all be handled by these professionals. Charts are produced of the financial welfare and are made easily accessible to allow the community to decide what can be afforded.

No commercial property or residential owner can make sure all regulations are being abided by at all times. Having all rules followed by the people is crucial to a successful community. With the help of these services, an outsider can be the enforcer and leave you to enjoy the property you have worked so hard for.

Original article

Fixed-Priced Versus Commission-Based Property Management

If you are looking for a property management service, the first thing that you need to do is to understand the two different types of service that you can get. Both works perfectly when it comes to providing you a real passive income, but they have a great difference, which can affect the amount of money that you can generate from your property. Today, we will be discussing some of the differences between a fixed-price and a commission-based property management service. Reading this article will help you understand which of them will work best for the properties that you have.

There are a lot of people who think that a fixed-price property management is much better than a commission-based service because they only need to pay a particular amount every month. This means that regardless of how much they make, they only need to pay the company the amount that they have agreed upon. Though it seems like good deal, there are times when you won't be able to generate a lot of money from your property. With that being said, you can expect that there are rare cases wherein a person pays more than what he generates from his property. If you are going to get a fixed-price property management service, there are times when you will be able to exceed the expected income, since you will only be spending a fixed amount per month.

A commission-based property maintenance on the other hand is an agreement that requires the property owner to pay a percentage of the income that is generated by the property. For example, if you have agreed upon a 40% charge, the company will be collecting the money from your tenants and will be sending you the 60% of the total revenue from the property. This goes regardless of the amount of money the property generates, which is more preferable for some people. However, if you are going to hire a commission-based property management service, you cannot expect that your properties will be making more money than what you have expected. This is because the company will be deducting the amount from the total revenue, and you won't be able to figure out how much money you will be receiving from the property management service.

Regardless of the type that you choose, getting a property management service will ensure that you will be able to make the most out of the properties that you have without spending a lot of money for the maintenance and improvements.

Get the best Property Management Minneapolis MN by contacting us now. We have several years of experience in providing the best services for all your properties. Visit our website now to learn more about how we became the #1 Property Management Minneapolis MN.

Original article

Basics of a Fixed-Priced Property Management Service

There are two main types of property management service that you can hire; commission-based and fixed-price. This article will be teaching you some of the most important things that you need to know about fixed-price property management service, including the advantages that you can get from this service. If you are going to read this article, you will be able to determine which type of service will work best for you.

When we say fixed-price property maintenance service, it basically refers to a service that you can avail which will require you to pay a particular amount every month. This means that if you and the company have agreed to settle $1,000 every month, you will be sending the exact amount every month. It doesn't matter if you made $10,000 or $100 from your property. This could be advantageous for some, but there are also a lot of people who have had problems with this kind of service.

In most cases, fixed-price property management service agrees for years of service, and if you have failed to make more than what you are making from your property, then you'll be shouldering all the problems just to be able to settle the score with the company. However, if you were able to generate more than $10,000 from your property and are only obliged to pay $1,000 per month, you will be able to easily make $9,000 without doing anything.

Regardless of how you pay a property management service, you will be able to take advantage of a real passive income since you don't have to do anything to make money from your property. The company will be taking care of everything for you, and all you have to do is to collect the rent for the property every month. With the help of a property management service, you will be able to save a lot of time, and you will be able to focus all your efforts in building your own business.

The choice as to whether you will be hiring a commission-based or a fixed-price property management depends on you, the homeowner. If you want to be saved from the trouble of paying more than what you make, then you can go with a commission-based. But if you want to make more than what you are expecting, fixed-price property management is a better option for you. As you can see, it all depends on your preferences and the level of income that you want to generate.

Regardless of the type of Property Management Minneapolis MN that you will be hiring, it is still very important to go with the best. Visit our website now and let the #1 Property Management Minneapolis MN unleash the full potential of your property when it comes to generating real passive income.

Original article

Property Management Guide - The Essence of Building Maintenance

Building Maintenance is one of the vital aspects of managing or maintaining property. The upkeep of a building or structure is what makes it habitable and therefore attractive to potential residents or tenants. Building upkeep involves maintaining the premises of a structure, both the interiors and exteriors, making sure that everything is in order, functional and useful. Needless to say, the job is an all-inclusive one.

Who is responsible for building maintenance?

Upkeep is usually designated to the property manager, which could either be a company or an individual. Owners who can't look after their property generally hire property management firms or experts to do various tasks, including maintenance, marketing, and liaison. When it comes to building upkeep, the property manager looks after the physical condition of the structure, ensuring that there are no issues and, if there are, overseeing any repairs, renovations, alterations, restorations, or replacements that need to be done.

What are the common issues in building upkeep?

As mentioned, maintenance of the property is a comprehensive job, however there are two main issues that frequently arise and they are: plumbing and wiring. Problems involving the water and sewage systems are usually of immediate concerns and must be addressed as soon as possible. Property maintenance staff is responsible for educating tenants and residents regarding proper use of toilet, sink and other similar equipment to avoid serious problems. Proper disposal of garbage and proper use of water must be emphasised.

Electrical problems are also common in property complexes and establishments. These problems are often life-threatening, and therefore should be addressed immediately. The property manager in charge in building maintenance must make regular and random checks on the electrical systems, and then contact a qualified electrician to resolve issues. Just like shortage in water supply, power outage causes great inconvenience to tenants and residents. The property manager must not waste time in addressing these concerns.

What other concerns involve property management?

There are instances of intrusion or burglary, which threatens the security of the tenants or residents in the building. The property must be provided with security systems and personnel to maintain the level of safety. Also, routine repairs and checks must be plotted out on a calendar, visible or known by everyone in the building. This minimizes the inconvenience on the part of tenants or residents.

All property maintenance activities are necessary to not only make the property visually appealing, but also to extend the life of the structure and to enhance its level of security and comfort. Nevertheless, it must be noted that building maintenance projects require money. It's part of the job of the property manager to determine the cost and benefit of every undertaking involving property upkeep.

Alliance Property Maintenance is a leading Building Maintenance Company located in Co. Dublin. The company specialise in delivering state of the art Building Maintenance services to both commercial and domestic customers. Plumbing, Heating, Insulation building maintenance, electrical and painting & decorating are Alliance Property Maintenance's core areas of service.

Visit us at http://www.alliancemaintenance.ie/

Original article

HOA Condo Property Management: How Can an Association Reduce Yearly Expenditures?

As another year approaches, Home Owner Associations or HOAs are beginning to seek ways to trim the newest annual budget. Condos are typically high maintenance properties due to many owners or renters only being present at different portions of the year. The annual budget for this type of property must include all maintenance, services, insurance, vendor contracts, and other items. Management services assist with yearly and quarterly budgeting to help associations prepare for upcoming expenses. HOA condo property management not only entails expense preparation but also setting fees to appropriately meet budget requirements. A reliable managing service can assist with planning as well as collection of these funds.

HOA Management CompaniesOffer Significant Cost Cutting Tactics

HOA management companies are a great resource for meeting community needs at the most affordable cost. While they do entail a fee, their services make up the cost tenfold through a sufficient and well managed neighborhood. Many things may be done to reduce the yearly budget including the monitoring of monthly utilities. Water, electricity, and various other service expenses can be a large part of the yearly budget. These items typically average the same with the exception of price increases from the provider. An unexpected increase is often due to a leak or some other type of usage problem. A leak reported early enough can lead to the utility company crediting or adjusting the account. HOAs should be able to rely on their on-site supervisor to monitor and detect these issues in a timely fashion. More energy efficient light bulbs or other cost saving techniques may also be applied.

Another more obvious approach many HOA management companies take toward helping an association is shifting focus to covering neighborhood necessities. It is very nice to have the capability of meeting all resident wants but a wiser decision is to make needs the priority. Wants may be sprinkled in when the funds are available but are not the driving force behind a well-run community. Keeping priorities in line also allows an HOA to set back funds for when something unexpected comes along such as a pipe or roof repair. An on-site manager is very beneficial in pinpointing necessary upgrades before the next year arrives. Their input along with the help of a reliable management company can do wonders for a community. An association can accomplish a complete budget solution by sitting down and listing all needed upgrades, possible repairs, and future improvements.

Insurance is the largest contributor to an association budget because it is a necessary expense. By increasing communication with the current agency, a board can obtain improved service as well as better plan options. Let the agent know that reduced budgeting is a goal and openly discuss any suggestions they are capable of providing. HOA condo property management is a very time consuming task which requires an attentive board with the right tools. Management services provide tips for improving the association budgets and also supply the on-site support needed to increase neighborhood quality. Any association struggling with the daily or decision oriented tasks of a community should consider this service to gain an additional resource for better operations.

Annual budgeting is a very important function of any HOA condo property management board. HOA management companies suggest effective methods for reducing various community expenses.

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Association Management Companies: Positive Solutions for Delinquent Fees

Homeowners throughout the country are struggling to make all the payments associated with the community they reside in due to the continual downturn of the economy. An Association relies on resident fees to maintain all necessary services in addition to the general condition of a neighborhood. When owners cannot pay their dues, it affects all other residents in the community. Fee determination, collection, and delinquency measures are just a few of the money related management functions a board must deal with. Companies offering managing services have become even more fundamental as boards begin to experience the after effects of the economy on local residents. Owners having trouble making their house payments tend to avoid fees in an effort to manage their own necessities. Fee collection is a must for any Association, but can get very tricky when residents refuse to pay. Association members are typically local neighbors and do not like the confrontation that arises when they must ask for delinquent fees or take more serious measures. Association management companies remove the personal aspects of this essential task by supplying a manager to do this work along with additional daily supervision duties.

Community Association Management: Handling Delinquent Accounts

One of the biggest questions being faced in Community Association Management (CAM) is how to handle delinquencies. Some boards are putting usage suspensions in place which prevent those with unpaid dues from using common areas such as the pool. This suspension is put into place after ninety days of delinquency. A written notice should be sent to the resident if this will be occurring. After ninety days of delinquency, the written notice is sent, and the resident cannot resume using common resources until fees have been caught up or a repayment schedule has been lined out. The manager supplied by the service provider should keep track of all collected fees, who is delinquent, timeframes, and can assist with notice creation or delivery. This assistance removes a lot of work in addition to stress from the board allowing them to focus on big decisions revolving around the community.

Publication of delinquencies has been another gray area in Community Association Management. Most providers advise against this because there are little to no benefits in doing so. A board will be better off by having the management service provider keep track of this information and send individual notices by mail or through some other notification process. Acquisition of the home is the biggest playing card an Association has when dealing with delinquent residents. This process can begin by removing rights to specific community amenities and continue further if refusal to pay continues. A managing service can provide better alternatives for notifying residents of late fees. They work with their on-site manager to make the collection process less hostile while gaining the money needed by the board to accomplish budget goals. Companies work with the resident to keep them current on future dues while fitting in late payments over a specific period of time. Multiple tactics may be used by association management companies, and boards should consider this additional support to counteract the adverse effects of a suffering economy.

Handling delinquent payments is one of the many duties of Community Association Management. Association management companies offer various solutions when residents do pay their dues.

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Community Association Management: An Upfront Approach to Maintenance

It is a big job for even the most experienced board to properly run a community. Associations have many responsibilities besides making decisions regarding shared resources and the needs of neighborhood residents. The management portion requires more time than some boards can fit into the day. Creating a comprehensive plan for upkeep is very important because it allows for each repair and service to be budgeted in appropriately throughout the year. Community Association Management (CAM) may be a beneficial service to any board attempting to juggle a multitude of responsibilities. These companies provide budgeting, planning, legal, and daily guidance to create a smoothly running neighborhood. Maintaining the quality of a community is very important to both property value and resident satisfaction. If this portion of the work is not a priority, community members will be reluctant to pay their dues causing the association to spend more time dealing with complaints or other issues. Neglected maintenance leads to larger expenses that may be devastating to a set budget. Management services offer on-site supervision to help with resident needs, vendors, inspections, and various other daily tasks. The providing company offers additional assistance such as pre-maintenance planning to improve budgeting processes.

Association Management Services: Being Prepared for Yearly Expenses

On-site supervision is one of many very important association management services. A manager can provide a great amount of insight to the board in regards to building degradation, fee delinquencies, and contracted services throughout the community. Their direct involvement with the day to day operations of a neighborhood allows them to be a resource when budgeting or making decisions. A manager can perform regular inspections of individual buildings, outside property conditions, and all used equipment. This allows the board to make repairs earlier rather than at a later time when the expense could be far more. Preventative maintenance is the best course of action when a board wants to keep this particular community expense as low as possible. When a reliable company provides on-site supervision, this type of planning is much easier due to the vast knowledge they make available.

Association management services help in creating a solid preventative maintenance plan designed to improve the quality of the community. The time or insight needed to plan ahead for repairs is not always available. Management companies supply important information the board may use to better handle this community responsibility. Even the newest properties require certain upkeep to be completed on a regular basis. Identifying what needs to be or could require repairs is the first step in this process. A manager involved in daily operations can be the best resource an association has when identifying these items. Have a meeting with the current manager to go over any problems that arise. If this service is not being used by the association, it is never too late to get the beneficial help of a management company. They can supply a manager, perform the necessary inspections, and initiate dependable planning for the community. Community Association Management is a service many boards are implementing to improve daily operations and achieve better residential planning.

Community Association Management includes a multitude of time draining tasks. Association management services can assist with planning and budgeting to improve neighborhood quality.

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