What does property management involve in practice?

Property management services vary depending on the scale and type of property, but may typically include the following:  

  • Managing the accounts and finances of a property including deposit, rent and service charge collection; 
  • Providing reception/concierge services, including security, guest entry and receipt of post and other deliveries; 
  • Conducting regular property inspections to ensure compliance with health and safety regulations and actioning maintenance requests from occupiers; 
  • Operating, maintaining and cleaning communal facilities such as hallways, gardens, gyms, lounges, bike storage and parking; and
  • Property management services sometimes extend to managing lease agreements, record keeping, advertising properties and screening tenants – however, in most cases this is the designated role of letting agents. At the point at which a property is let, the property manager then becomes the point of contact.

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