When you decide to buy property in Antigua, whether for investment purposes to secure your Antiguan citizenship or to reside, you will need assistance. A Property manager can handle administrative duties on behalf of the owner. But what is property management and what does a property manager do?
What is a property manager?
A property manager specializes generally in keeping a rental property up to par, taking control of financial responsibilities and ensuring that the property is always maintained. Property management is usually sought after when individuals own more than one property, but it is also beneficial to owners who do not reside in Antigua. There are different types of property managers that you can find include:
- Traditional Property managers
- New model property managers
- DIY property managers
Types of property management:
Property management professionals cover a range of services and can be divided into different groups. Depending on your needs you can get help from a company which specializes in the specific service you need or a more diverse company which provides a wider range of services.
Real/Residential property management
A residential property manager is responsible for overseeing the residential properties used for renting or leasing on behalf of the owner. Residential properties include:
- Family homes
Residential property managers are tasked with providing more in-depth responsibilities on behalf of the owner. This involves:
- Screening of tenants
- Overseeing maintenance and repairs
- Overseeing housekeepers and landscapers
- Paying of employees
- Setting rental rates
- tracking, and providing regular financial and administrative information
- communication with the owners to better manage the property.
Commercial property management
A commercial property manager oversees properties used for non-residential purposes. This includes:
- Industrial properties (factories, warehouses)
- Retail stores
- Shopping centers
- Recreational properties (Hotels, restaurants, casinos)
- Healthcare and wellness centers
- Storage facilities
- Sport centers and gyms
This type of property management involves various responsibilities from advertising and marketing to financial management. Leasing procedures are also a part of the commercial property manager’s job and they must ensure that all the legal processes are followed, and contracts are adhered to and regularly updated if needed.
The manager must also keep accurate and organized records of the financial aspect of the property. This includes:
- Maintenance fees
- Repair fees
- Mortgage payments
- Tax payments
- Utility payments
- Insurance payments
This information must then be relayed to the owner of the property to keep them informed on the investment while they are physically absent. To some degree, professional commercial property management handles administrative tasks like employee recruitment and training. A commercial property manager, however, can become freed of many of these responsibilities when tenants take care of their own maintenance and administrative tasks.
Property manager duties and responsibilities
In a nutshell, property managers are responsible for always keeping properties in comfortable habitable conditions. They are responsible for managing other staff and service providers in the absence if the property owner. The three main property management duties are:
- Managing tenants: Residential property managers have the task of preparing a property for renting and ensuring that the tenant can This includes screening by identity, credit, and background checks, preparing the property and lease agreements, collecting rent, and issuing and overseeing evictions. Property managers must see to
- Financial management: Responsibilities of financial management include making payments for mortgage and utility. The property manager must also document maintenance and repair expenses and provide the owner with reports of all expenses.
- Property maintenance: Property managers are responsible for overseeing repairs, landscape maintenance and hiring the necessary personnel to perform these duties.
Relocate Antigua Real Estate Property Management
Relocate Antigua provides quality property management that covers an extensive array of services. Our trained and experienced property managers will ensure that your property is well taken care of and that your tenants are comfortable and settled in. Our list of property management services include:
Our property management responsibilities list:
- Weekly property inspections
- Prompt response to alarm companies when contacted.
- Weekly inspection of the unoccupied property to ensure all windows and doors are locked correctly and alarm system is functional and activated.
- Checking the general condition of the property and inspecting the pool and garden maintenance, including the irrigation system.
- Contacting and instructing pest control
- Checking the septic tank and ensuring all fixtures and fittings are functional.
- Taking meter readings for the utilities and gas each week and monitoring the usage to make sure it is correct.
- Hurricane and other disaster preparedness
- Full and part-time property staff recruitment and management
- Arranging and overseeing all necessary basic services such as home repairs and maintenance, house cleaning, housekeeping, laundry, and replenishment of household supplies.
- Contacting utility companies
- Contacting pool services and gardeners
- Contacting security companies
- Prompt response to alarm companies when contacted.
- Contacting insurance companies
- Collecting mail and forwarding to the owner.
- Contacting the owner for approval of expenditures exceeding a pre-defined amount
- Providing financial statements
- Collection of rent and issuing of receipts.
- Paying utility companies, insurance, and tax on behalf of the owner.
- Dealing with reports and insurance claims.
- Pre-arrival shopping
- Personal Shopping and delivery of Supplies and Gifts
- Private Chef
- Personal Assistant
Our Real Estate professionals are ready to help you with your Antigua Real Estate Investment and see to it that your properties are cared for while you focus on other things. Give us a call today and let us be your guide.