What does a property management company do?

by posted over a year ago in Property Management

If you ever wondered what it is that a property management company actually does, you’re not alone. This is the one question my friends seem to ask me the most since we started Alexanders in 2008.

This is the first part of a series on what services we, as property managers in Phuket provide. Rather than post an article that’s thousands of words long, I have broken it down into smaller posts.

For part 1 of the series we’ll talk about General maintenance and financial management.

Maintenance/Repairs

  • A weekly property check, performed by one of our managers. During this time we test and check all inventory items, structure, gardens, and air conditioning units.
  • We provide a network of vetted and trusted contractors who offer good pricing and a high standard of work.
  • Assign and oversee 3rd parties for jobs such as swimming pool care, pest control and security based on price and standard.
  • Available 24 hours a day 365 days a year for any small or emergency repair, all clients and tenants are given our 24 hour hotline number to contact us.
  • Maintenance of outdoors areas;
    • Gardening & Landscaping
    • Swimming Pool & Decking
    • Driveway/Car park
    • Pest control
    • Waste removal
  • Renovation works
    • Provide preliminary cost estimates
    • Recommend 3rd party contractors based on previous work history.
    • Get multiple costing from independent contractors for works.
    • Oversee that all work is too an acceptable standard.
    • Keeping client fully informed throughout the process via email with images and video.

Accounting & Financial

  • Initial budgets prepared and discussed. Cash flow and payments agreed including incidentals.
  • We make all payments on behalf of the property owner. This includes any utilities, services, common area fees and insurances (building, contents, boat and vehicle). These payments are all handled from quotation to renewal.
  • Complete and concise monthly cash flow reports sent to you via email.
  • Maintain and file all historical records including invoices, receipts, warranties, rental agreements, inspection reports, etc.

In part 2 of this series we’ll talk about rental and tenant services provided by Alexanders as a property management company in Phuket.