Property management service. Who needs it and why?
The property management service is a widespread and convenient solution for busy entrepreneurs, as it can significantly save time. Its essence lies in the transfer by the owner of the right to manage his property to a third-party organization. All actions are taken in the interests of the owner. This service is paid and is aimed at ensuring a high income from commercial real estate (retail premises, offices, warehouses), which has been transferred to management.
Among the most frequent cases when such services are used, the following are distinguished:
• Long-term departure or even relocation of owners who want to profit from the premises by renting them out;
• Investments in retail real estate in Ukraine, while living abroad;
• Lack of time for the owner who wants the acquired property to generate income without his participation;
• The desire of the owners to minimize possible risks arising from the lease of premises (downtime, damage to property, delays in payments).
The range of services provided by real estate management companies most often includes the following items:
• Searching for reliable tenants and concluding agreements with them;
• Preparation of premises for rent or sale, and verification of all necessary documents for these cases;
• Supervising the premises, monitoring the timely payment of the rental rate and utility bills, for the operation as intended;
• Organization of repair work;
• Payment of owner taxes and optimization.
Undoubtedly, self-running a business in the commercial real estate market with the proper experience and skills will not be difficult. However, the plus of trust management services is that such companies have the whole process adjusted, and the algorithm of actions is brought to automatism, which avoids complications and additional costs. At the same time, if the tenant does this on his own, without much experience, he will spend much more time or even financial resources on the same operations. Since the main goal of any real estate management company is to make the profit from commercial premises as high as possible, the client can be sure that all measures aimed at this goal will be carried out quickly and efficiently.