Posted on: 10 May 2016
An investment in residential real estate should always be accompanied by a similar investment in the professional management of the acquired property. Professional property management services allow owners of residential rental property to sit back and wait for their investment to pay off.
Property management companies and body corporate managers are often trusted with the professional management of residential property. This article discusses a few reasons why hiring an on-site body corporate manager makes for a better investment than hiring a property management company.
Personalized Property Management
The advantage of more personalized service provision in the management of residential property is among the main reasons why property owners should go for on-site body corporate services as opposed to a management company.
Under normal circumstances, property management companies will be responsible for a large number of residential properties belonging to an equally large number of residential property owners. Many times, the various properties are located in different residential suburbs spread across a relatively wide geographic area.
In contrast, an on-site body corporate manager works only for the property owners of the said residential unit(s) on the same location. Thus, on-site body corporate managers have 24-hour access to communal areas around the residential complex. This is the catalyst for the provision of more personalized property management services from an on-site body corporate manager.
Closer Monitoring Of Tenant Behaviour
Residential property management service providers are charged with the responsibility of monitoring the behaviour of tenants on rental property. Property managers are given this responsibility so as to ensure that tenants don't engage in illegal activities or in activities that don't comply with the tenants' code of conduct for the residential complex in question.
On-site body corporate managers are situated "on the ground", so to speak, while employees of a property management firm work from the comfort of their offices. Therefore, a body corporate manager will be in a better position to ensure that all tenant-related activity within the complex is in compliance with the by-laws dictated by the body corporate.
Timely Repairs And Maintenance
With a property management company, tenants will often have to wait for representatives of the company to come around before their clogged drains are unblocked and their damaged faucets replaced (for example). On the other hand, the presence of an on-site body corporate manager allows him/her to identify such problems and to have them fixed almost immediately.
The question of timely repairs and maintenance-related activities is actually more beneficial to the property owner(s) than it is to those residing in the residential complex.Share