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Press
Releases 01/05/2006 |
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How
Property
Managers
Help
Homeowners
Protect
The
Value
of
Their
Most
Important
Asset
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 The vast majority of new housing developments today are looked after on an ongoing basis by property managers charged with co-ordinating all the various services required to maintain properties and protect their value on behalf of property owners.
Following consultation with developers about the range and cost of management services to be provided for each development, purchasers of a new property should receive an information pack detailing all the services offered by a property manager, particularly highlighting those relevant to ach client.
Property management services will typically include regular inspections, organising common repairs, cleaning, arranging the insurance, and paying all of the suppliers of services. It will possibly also involve arranging maintenance contracts for communal lifts, organising gardening contracts and arranging maintenance contracts for other services supplied to the property.
It is not uncommon for some property owners to be unfamiliar with the conditions laid down in the property titles. Your property managers will be able to advise on any problems of a common nature which an owner may encounter and ensure all requirements are adhered to in respect of maintenance, the supervision of communal amenity areas, including laundry rooms, community centres, swimming pools, saunas and all associated equipment.
Your property manager will ensure that not only are the terms laid down complied with, but will be able to give advice when problems arise.
Since many aspects of a property may be common to several owners - such as the roof, outside walls, mutual division walls, foundations of the building, gutters, footpaths and stairs - it makes sense to have one insurance company that is common to all owners who share a mutual interest. That way, in the event of a claim having to be made, for example, in the event of a fire or flood, then there is only one insurance company to deal with and all the owners can rest assured that their neighbours have insurance cover.
A clause is usually written into the property titles that make it a condition that, at the point of purchase, the new property owner is required to contribute to a Common Insurance Policy. A good property manager will be able to negotiate a premium which, in most instances, will represent a premium competitive with rates charged for a Single Domestic Building Policy.
Of course, given that, for the vast majority of home owners, their property is their most valuable asset by a considerable margin, it makes sense for owners to appoint a professional manager to protect the value of that asset on their behalf. That is the ultimate goal of the property manager.
John Brolly is a Director at Ross + Liddell property managers www.ross-liddell.com
ENDS
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