Property Management Companies – An Overview

Property Management

Property management a.k.a. Asset management companies could become huge assets to the property owner since they efficiently manage the oversights, controls and operations of a real estate space. In today’s huge real estate market, especially in a big city like Bangalore, homeowners often do not want to go through the trouble of advertising for tenants, negotiating with brokers, taking pains of showing the space to scores and score of potential tenants, or discussing the nitty-gritty details of the contract. Such companies not only ensure all of this but also look after the maintenance of the property, ensure timely rent collections, and even address possible concerns and sort out tenant issues.

The chief objective of such companies is to alleviate the stress, strain and hassles of homeowners in not only managing the components of the property and, but also ensuring that the homeowners get an assured continuous rental every month. Additionally, they provide for a dependable, trusted and knowledgeable service by making use of the latest in technology and trends. Property management companies provide a host of services such as searching for suitable tenants for the homeowners after a proper and thorough process of screening, searching for new tenants and making the process of the handover on the behalf of the earlier tenants, maintaining, and repainting the house during the time that the tenants move in and out, overseeing the financial transactions on behalf of the owners as well as helping tenants finding the home that they are looking for.

Apart from the above basic services, the companies also provide new-age services updated according to the needs of today’s homeowners. These include security & safety services which include fire and safety services, security personnel for the premises, trained emergency response and fire marshal teams, security/safety audits and electronic surveillance of the property. The electromechanical services provided included taking care of pumping and plumbing systems, sewage and water treatment, transformers, power, HVAC and energy management and distribution systems, as well as taking care of generators and civil repairs. Services also include hygiene and housekeeping services such as pest control, restoration and maintenance, carpet and upholstery maintenance, facade and glass cleaning, washroom and cafeteria services, office and mechanized cleaning.

Asset management services for high-end spaces also feature parking management services served by a team of capable professionals. The new-age services also include garden and landscape maintenance, where a team of trained gardeners and horticulturists are responsible for maintaining and beautifying the gardens and landscaped areas in both residential and commercial properties. For those high end spaces that have water bodies and swimming pools, these services take care of their maintenance as well, ensuring that the quality of the water is maintained using eco-friendly chemicals.

Property management services cost slightly on the higher side, and one must review their needs carefully before hiring such services. These services, however, are perfect for those who have many rental units, who don’t live near their rental properties, and for those who have no time for hands-on management.

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by Sridhar Kulkarni via Shriram Properties Bangalore