When a large number of apartment owners come together, a good management plan is required; imagine a couple of hundred owners, all with their own ideas of how things should be managed, welcome to the world of condos and apartments. In this short article, we take a look at effective management strategies that keep everyone happy.
Owner’s rights & responsibilities
The first thing to do is prepare an owner’s manual that clearly outlines the owner’s rights and responsibilities. This is a job for an experienced legal team, as both the apartment owner and the management must be protected and all aspects of the arrangement need to be clear and concise. A great example of such a property management company is body corporate in Melbourne, a well-known provider with many satisfied clients.
Building maintenance
A large apartment complex takes a great deal of planning to manage building maintenance and teams of tradesmen to keep everything in good order. As you would expect, there is a lot to do, including the following:
- A/C maintenance
- Grounds upkeep
- Plumbing issues
- Electrical problems
- Apartment renovation
- 24/7 security
- Elevator maintenance
- Pool maintenance
There would be monthly meetings whereby unit owners can meet with the management staff to iron out any issues.
Maintenance fees
This might be a monthly or yearly payment, depending on the conditions; maintenance fees cover all regular running expenses. Of course, there are sometimes issues and these are typically aired in the monthly meetings when unit owners have an opportunity to have their say. Click here for top tips when relocating.
Legal team
A top-rated property management company would have a legal team to advise building owners regarding the law; there are often legal issues with owners and it is necessary to have professional lawyers to advise. In the event of a court hearing, the legal team would represent the developer to ensure the best possible outcome; there are times when an out-of-court settlement is advised. If disagreements with unit owners cannot be resolved, it might end up in a court, where a judge would hear both sides and make a judgement.
Developer-maintenance company relations
Of course, it is critical that the developer and the maintenance company have a sound working relationship; the maintenance company would have an excellent reputation and they would have the necessary resources to maintain the development, with a resident office and a team of maintenance engineers who are on call 24/7 to deal with any emergencies, as well as a busy schedule for the many maintenance tasks.
Remedial work
Most building management companies will carry out renovations for apartment owners at an agreed price; it might be an end-of-tenancy decoration or the owner wishes to renovate the bedroom or kitchen.
The most important person is the manager, who makes sure all tasks are completed on time and that the development is always in tip-top condition.
