Hiring a property manager - Here's what you should watch out for

by Carlos
3 Minuten
Hiring a property manager - Here's what you should watch out for

Anyone who calls a property their knows that there is some work and tasks involved. What is a dream for many can turn into a nightmare in some cases. This is especially true for properties that are linked to other properties. Shared parking spaces, for example. The classic is condominiums. If maintenance measures are necessary, the owners must coordinate their efforts. This can often lead to disagreements. Also, not everyone has the same amount of time available to take care of the corresponding coordination. A property manager can be the solution.

Find a property manager in your area - This is why it makes sense

If you own a property in Essen, you should also hire a property manager from Essen. The advantage is that this has short distances and can also be present once quickly when it comes to short-term decisions. This can be, for example, craftsmen who need to be coordinated.

Property manager - his tasks

The property manager takes care of tasks that cannot be assigned to an individual owner, but affect all flats proportionately. This is, for example, the commissioning of craftsmen for jointly used rooms, such as hallways and staircases. Neutral property managers have the advantage that it is difficult to accuse them of partiality and that they are neutral regarding the choice of tradesmen. It is not uncommon for an owner to try to hire an "acquaintance" as a tradesman and for that person to charge exorbitant prices.

In addition, the property manager is also responsible for the implementation of the house rules. He does not make them himself and cannot force the owners. The property manager draws up the house rules and also participates in the owners' meeting.

Besides, additional tasks can be agreed between the property manager and the owners' meeting. The contract law is free and all possible extensions are conceivable.

Property management - yes or no?

If you own a condominium and have not yet hired a property manager or janitor service, you should think about it. Sure, it costs money (hardly anyone works for free), but it also saves time and therefore money. Who wants to take care of the coordination of craftsmen in his free time? Also, the management of the common funds creates trust, especially if the community of owners should disagree about who should manage the money from their ranks.

In any case, calculate whether it pays off to hire a property manager. Alternatively, the task can also be solved within the owners. For example, if you are a retiree and have enough time, you can volunteer (or pay a small fee) to take on the tasks of a property manager.