Thursday, January 30, 2014

Facts About Fairfax Property Management

By Eliza Mendoza


Fairfax Property management is of great importance. There are several services offered under professional management, some of which are mentioned below. These services are designed to ensure that the asset owner gets the most out of their investment. It was not recognized earlier on since the owners could manage all they had but now, the real estate business is growing hence the need to have such a team.

Cleaning contracts are also negotiated by these companies whereby a reputable company is given the responsibility of ensuring that their cleaners perform their allocated duties efficiently and in all the buildings assigned to them. Supervision is also a key factor when cleaning is being done so as to maintain the standards of the service company. This will always lead to a healthy competition among the firms.

It also involves carrying out of all necessary repairs within the building, as well as carrying out regular maintenance. If the plumbing or electrical wiring within the asset is faulty for example, that manager will be responsible for these repairs. They are also charged with the responsibility of carrying out certain administrative duties.

Some of these duties include, preparation and filing of tax returns is perhaps the most important. The manager will handle all tax issues related to the properties. Other administrative duties include preparation of monthly reports, and keeping of all property records. All these work towards the establishment of the company.

The process entails the day to day running of your business; it involves the physical maintenance of your asset, this involves carrying out any repairs that might be needed, paying of all utility bills like electricity and water bills and also collection of rent. The advantage of this process is that it ensures that your properties are well and professionally managed and that all the rates and bills are paid in time. It also ensures that the rent is collected in time and that there are no defaulters.

The process has been engaged by many individuals in regards to the various tasks that need to be done. They offer maintenance services that ensure the smooth running of chores within the properties. These include generators, lifts, and booster pumps among others. Repairs are also part of maintenance that they have to take care of. Contractors are engaged by the service companies in providing quality materials when undertaking any repairs.

The process also involves all manner of maintenance and repair activities necessary to keep the building in good condition. It is the duty of the manager to ensure that the plumbing is fine, the electrical wiring is okay and all other utilities. Depending on the agreement between the manager and the landlord, it may also involve other important duties. These include preparation and filing of tax returns for the said property among other duties which could be assigned to them.

They also inspect the house for any damages when the tenant is moving out so as to bill them to the tenant who is moving out. Repairs are then done so as to enable the next tenant find the house in good order. This is why the residents will always stick to the Fairfax property management.




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