What Estate Management Services Offer
Once a huge real estate property is developed the company that develops it goes further as to maintain and improve its property facility by way of outsourcing an estate management company whose primary service is to help maintain the facilities as how the developer would want its property to be sustained. When it comes to well-known estate management companies, a lot of real estate developers rely on these companies because they already have the experience and expertise in being able to carry out a professional, maintenance services to different kinds of properties, such as leasehold and freehold, and thus making them more like a partner company to many real estate development firms.
Due to the extensive services that a professional estate management company is able to offer, estate developers would rather leave the huge task of maintaining their estate properties into the experienced hand of an estate management company as it goes into servicing the following: regular and routine maintenance of leased or fully owned properties, which involves site inspection of homes, as well as the surrounding facilities, such as landscape areas, car parks, driveways, and many more; complying with the government’s regulations on health and safety on real estate properties; and the task of invoicing and collecting ground rents and service charges. While the job may be broken down into the mentioned services, but the estate management company is also capable of introducing other services in their portfolio, which are proposing for long-term for large maintenance projects, like resurfacing car parks and driveways; supervising of maintenance contracts; arranging for annual meetings of directors in an established real estate property; and liaising with solicitors in connection with a sale or purchase of a leasehold property.
Since there is too much a task and involvement in managing real estate properties, the government requires that any estate management company must be licensed by a local real estate board, being allowed with a license authority, similar as that of a real estate broker’s license, which is dealing with rental properties, as well as marketing these using the standard real estate marketing strategies. By holding a license, estate management services companies are allowed to place a real estate board lockbox, which is a padlocked box that is placed around the doorknob of a house that is on the market, for real estate agents to access in to the house when they bring in clients. Apart from this kind of license, in some states, like Florida, Illinois, and Delaware, estate management firms are also required to have community management licenses, especially if their services include on-site management.