Creating and launching a desirable residential community begins with a developer’s vision, but it takes proven experience, knowledge and skill to bring it to life. Consequently, many real estate developers look to property management companies to assist them on the execution of their vision. When developers and property management companies work in tandem, they can benefit from the synergistic value add. Ultimately, the project will remain profitable, marketable and most importantly desirable to homeowners and tenants for years to come.
Property management companies utilize their industry expertise, local market knowledge, and best business practices to educate and inform developers in an unfamiliar segment of Real Estate. Some of these actions consist of daily communications between tenants, collections (rent/utilities) and the continuous work-orders to keep everyone satisfied. Some important tasks, duties, and responsibilities (TDRs) of the property manager include a combination of business and customer relationship management activities. The team is responsible for hiring and selecting appropriate vendors as requested by upper management, balancing a healthy budget, scheduling/oversight of maintenance repairs from small to large scale projects, and periodic inspections of units and common spaces. We encourage and coordinate for our team to attend association meetings to ensure their continuous education regarding updated laws and regulations while furthermore strengthening the compliance and core of our company.
Finally, property management companies provide key insights on the latest amenity and sought-after lifestyle trends that millennials are demanding. This knowledge equips companies like ours to act upon these new community requests to deliver exceptional living experiences. As we continue to work together we benefit from cost reduction, manage unforeseen expenses, and streamline of operations. This valuable guidance and unparalleled commitment to examining the customers’ needs is what differentiates us from the competition.