Residential Property Management Essay Example | Topics and Well Written Essays - 2500 words

Residential Property Management - Essay Example before long the Blue Skies property focus is management some apartments in Highbury, however, the federation lacks good management which has resulted into tenants problems and has direct to poor performance of the property in terms of revenue being collected. In order to constitute that a new company by the name Top-Homes Property Management has been engaged to provide the serve that Blue-Skies property management were offering. Top-Homes Property Management Company is a local based property management located in Highbury town dealing in management of real estate properties especially apartments. The company has 10 staffs which includes 4 professionals in property management.The types of the property that the company will be dealing be apartments and which are private property of the owners. The types of the apartment will vary according to the number of bedrooms the sustain. For example we have 1 bed, 2 bed and likewise 3 bed these apartments can accommodate 2, 4 and 6 occupants respectively. Every apartment is separately furnished and has different views depending on their locations. The apartments are located in Highbury and they be of 10 apartments building in different compounds but along the same road.The apartments are available for leasing or renting. ... A property management company normally enters into a contract with its tenants and this contract stipulates various aspects of tenancy. soon the company that is management those apartments steers a specific swear out fee seems to be too high for the tenants. The capital collected is supposed to provide for the maintenance of the buildings and future painting and or re-carpeting of the apartments. The current management has undertaken to rehearse an agent to carry out the management of the property. Tenants are supposed to pay their rent and service charge to the agent who in turn takes the money to the Blue skies property management company . The company subsequently deducts their commissions and other(a) expenses and deposits the remaining net amount to the owners account. Management problemsThe current management problems that the property management company is undergoing are both from the tenants and also from the management.Poor quality of servicesThe agent that a company engages highly affects the quality of service delivery that will be delivered. To quality of the agent is very vital will encourage tenants to stay staying in those apartments or not. It has been observed that the current agents overcharges the tenants in terms of amount of service charges pay and tho offer sub-standard services. For example, the gardens are no well kept yet the service charge is always paid on time. It is important that the property management company should realize that the tenants are the most important customers and a partner. Thus, customers problems need to be understood and solved by the property managers. (Gary & Kempn er, 1999)Insensitive to tenants Being sensitive to the complaints of the tenants is also important as it