RESIDENTIAL AND COMMERCIAL REAL ESTATE ADMINISTRATION
Whether it is real estate intended for business or living, the concerns and needs largely overlap. In the case of real estate intended simply for living (apartment cooperatives), the buyer of the service has to communicate and do perhaps more, and this usually remains in the so-called non-working time. But … we don’t have the slightest objection to it!
The administration and management of the buildings (both commercial and residential buildings) is directly the responsibility of the owner/apartment cooperative board. However, the people appointed for this may not always have the knowledge but mostly the time for it, because real estate management requires a certain amount of commitment which the board or the persons appointed for may not be able to give. So, how to ensure that things are in order with the property, that the necessary services are functioning and at the same time communication with the owners is guaranteed? One way to do this is to outsource the management of the real estate / apartment cooperative from an external service provider – that is to use a solution called “administration service”.
RESIDENTIAL / COMMERCIAL REAL ESTATE ADMINISTRATION: WHAT IS IT EXACTLY
Apartment cooperative’s administration service is essentially the delegation of apartment cooperative’s administration to a professional contract partner. The exact content, scope and responsibility of the service are agreed individually. In principle, it is also possible to outsource the administration of the apartment cooperative in such a way that the members of the board do not have to worry about the issues of the apartment cooperative on a daily basis.
MOSTLY INCLUDED IN THE REAL ESTATE ADMINISTRATION SERVICE:
Dealing with the daily concerns of apartement owners / tenants / property;
- Communication with debtors;
Management of documentation, according to the agreed procedure;
Management of insurances;
Informing residents/tenants about decisions, deadlines, upcoming works, water interruptions, etc.;
The collection and transmission of readings from apartment owners’ meters and building’s main meters;
Preparation of contracts for the services required for the real estate/apartment cooperative, their contraction if authorized and supervision of work execution;
Preparation of the economic plan in coordination with the board;
Carrying out and checking regular maintenance of technical units.
WHY DELEGATE REAL ESTATE ADMINISTRATION
Managing a residential or commercial building and maintaining the good condition of the property requires that the board member or the persons appointed for this purpose have the time and desire to contribute to the management of the property and to be actively engaged in it. Everyday administration requires a surprising amount of communication with service providers and apartment owners, as well as solving accidents and dealing with debtors. If, for example, there are volunteers on the board of the apartment cooperative who are ready to take on these tasks, then it is quite possible to manage on your own. But if there is a lack of knowledge or time, it is more reasonable to hire a professional property manager to manage the apartment cooperative.
The administrator can offer support both in ordering daily services and, for example, in the preparation, execution and supervision of ongoing repairs of the building. Administrators often already have the right people, or at least the best knowledge, to outsource services such as lawn mowing, indoor and outdoor cleaning, window washing or garbage collection. If, for example, the board / general meeting has decided that the building needs to be insulated and the facade repaired, taking these offers and keeping an eye on the execution of the work is often more time-consuming than expected. You must also be prepared for possible emergency situations, for example, if the roof leaks or the basement sinks – here, too, the manager can help resolve things quickly and efficiently, so that the board or owners can focus on their daily activities.
The responsibilities of the board include, in addition to administrative activities, keeping the financial affairs of the property/apartment cooperative in order, which inevitably also requires dealing with debtors. If one accidentally owes money for the heating, water, cleaning and other services consumed, the person usually pays it off quickly at the first reminder. However, if there have been major financial failures or coping difficulties or the individual does not pay the rent/housing association bills purposefully, then the situation has to be dealt in a more time-consuming way.
When it comes to outsourcing administrative services, this is often seen as an additional and excessive cost. In practice, however, a knowledgeable service provider can save money as the network of contacts of the administrative service provider makes it possible to purchase (or carry out) day-to-day services and larger tasks often at lower prices than by ordering them individually.
In addition to administration services we also deliver:
WHY WITH US…
B ut why not!
V&T PROPERTY MANAGEMENT consists of enthusiasts of their field who just like to serve customers and love it when things are in order and processes work; who just like to communicate, think along, offer different approaches/solutions and enjoy positive results. We are always there for our partners. We always do more than what the agreements and solutions include and more than what you can expect.
We like to differ !