PROPERTY MANAGEMENT

Property management is a service offered by individuals or legal entities for the administration of properties.

This is the technical definition, in reality it is basically delegating the management of a property to a third party, whether it is a purchase, sale or rental.

Property can be a home, land, garage, storage room, commercial or industrial premises.

The objective of hiring the natural or legal person who performs this function is to guarantee that with their knowledge the entrusted management is more profitable, in all aspects.

Functions of a real estate manager

The manager, or also called broker, must fulfill a series of functions to carry out good management:

In general

• Check that the property has all the legal documentation in order.
• Check the condition of the property.
• Check the condition of the property. Have inventory of furniture, utensils, decoration, appliances, machinery, etc. that the property could have inside.
• Have controlled access key to the property.
• Search for clients interested in the property.
• Develop the marketing management necessary to search for clients.

In the case of rental

• In addition to everything previously said.
• Carry out collection arrangements for leases from tenants.
• Transfer the amonts of the rental to the owner.
• Management of incidents that may arise during the lease, with tenants and owner.

Advantages

When considering buying, selling or renting a property, the question often arises as to whether to do it directly or use a manager.

We must take into account the fact that real estate is a world where there are many issues to control: legal and marketing.

To take into account advantages:

1. The manager has knowledge of the valuation of the property so he will be able to suggest, based on his knowledge, the value in a way that is beneficial to the owner.
2. The manager has a network of contacts and collaborators to be able to put the property into circulation.
3. He has knowledge of the laws, which will guarantee that everything will be done based on them.
4. It is obvious that the manager will receive remuneration for his efforts, but it compensates because it prevents the owner from having to carry out procedures that he is unaware of and it is guaranteed that they will come to a successful conclusion.
5. The owner does not lose control of the property, since the manager must keep the owner informed of the visits and it will be the owner who definitively makes the final decision before the manager closes the deal on the property.