We saw the rapid increase in the number of buildings and condominiums in the past years.
The selection of a building is crucial to a company for it affects its image and productivity of employees. Thus, property management is important in business growth for both the developer and tenant.
We asked Techie Bautista, a respected consultant and practitioner in the real estate industry, to give us some thoughts on effective property management.
At the center of a well-managed building is a well-trained and highly motivated property management team ready to face the daily challenges of property management, leasing and preventive maintenance. Its ultimate success will depend greatly on its ability to maintain good relations with its tenants. Dissatisfied tenants eventually vacate the property and a high tenant turnover means greater expense for the owners in terms of advertising, redecorating and uncollected rents.
An effective property manager will establish a good communication system with tenants. It is imperative that the property management team maintains an open and positive communication with its tenants to readily resolve their concerns and avoid potential misunderstanding. This is done through regular meetings, visits to units and the issuance of written advisories.
An effective property manager will set intangible as well as tangible benefits to keep tenants satisfied, ensure that maintenance and service requests are attended to promptly and enforce all lease terms and building rules.
The team’s objective is to preserve the physical integrity of the property, eliminate corrective maintenance costs and ensure uninterrupted service to residents.
The Inquirer Academy, in partnership with Reap Academy, will hold a workshop entitled “Building and Condominium Management” on Aug. 4, 2017. The workshop will be a guide to property and facility management, leasing, contracts, preventive maintenance and new tax laws. The workshop aims to equip property management teams with a clear understanding of their roles and functions needed for their jobs. This is ideal for property managers and their staff, marketing and leasing staff, preventive maintenance teams, homeowner/ building association officers and even unit owners.