Apartment property management is a task that no individual would like to take upon himself if not supported by a reliable back-up team. It is managing a number of families together as far as their needs for facilities go. The job of daily maintenance of the property is a must and the more the number of units the more is the problem. So it is best to appoint a full time manager for the purpose and if the number of families is more then a good option is to engage a firm that manages such properties. But whoever manages the property it is best to follow some simple methods that go a long way in maintaining a property satisfactorily.
In the beginning it must be noted that the business of managing multiple dwelling units should be taken up as seriously as managing a regular business house. If the property is owned by the residents co-operative then there is no question of earning profit but if it is owned by somebody then the manager appointed must take care of not only profit for the owner but also appreciation in the value of the property. The first and foremost job of the apartment property management is building up a healthy relation between the owner and the tenants because they are the people who generate the income.
Rules regarding residential properties having multiple units are very strict and apartment property management must make it sure that these rules are not violated at any cost. They should be the internal watchdog in the matter. It must be seen that the residents are not discriminated against on grounds of race, gender, sex, age, disability or any social issues. It is guarded by humanitarian laws and these laws are very strict and lead to criminal proceedings. The other important matters are the maintenance issues. Whenever there are tenants involved there is the question of their rights and proper maintenance is among the first rights. Whatever was promised to them should be provided and in good condition. This should be taken care of the manager as it is not possible for the owner to keep a tab on everything.
It is not that the responsibilities are of the owner only. The tenants are also required to follow some rules and regulations. These can be in the form of restrictions regarding the manner of using the common spaces, keeping pets, etc. The job of the apartment property management agency will be to ensure that the regulations are followed properly and they should make regular inspections to ensure that. However, it must be seen that such inspections must not intrude upon the privacy of the tenant as privacy laws, if infringed upon, can cause heavy damages to the reputation and bank balance of the owner.
Some of the matters that need immediate attention include faulty wiring, water leaks, fire hazards, etc. Periodic inspections must be made to ensure that the tenant does not get a chance to complain about these. However, if such an occasion ever arises the tenant should immediately alert the apartment property management authority for prompt action. Some actions can be taken only within the scheduled time and these must be made clear to the tenants well ahead during the signing of the lease or rent agreement. It is the duty of any manager to clearly explain not only these terms but all the other terms and conditions to the tenants before signing on the agreement papers.
Source: Quality Assurance
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