What does Property Management mean?
At first sight running an apartment, ensuring it’s operation and generating money seems to be child’s play… Then, as people dig into it a little more, realise that this is a really complex and time-consuming processes.
Let’s see what are these:
1. Operational activities
Day-to-day operational management of residential property
Flat management includes the day-to-day tasks that ensure the continuous and sustainable operation of the apartment:
- collecting of the rental fees
- arranging repairs
- collecting mails from post boxes
- paying bills
- checking meters
- preserving the condition of the appartment
- organize cleaning
- rent out the apparment
- maintenance
- organize moving in and out
- keep in touch with the Tenants
Flat rental
- we make the apartment suitable for advertising (repairs, replacements, cleaning, home staging),
- we take photos of the apartment, advertise and show it to potential tenants,
- if Tenants are in the apartment, we advertise and show the apartment to interested parties in the 2 months before the end of the rental agreement, in order to ensure continuous rental,
- with your approval, we agree and conclude the contract with the new Tenant,
- organizing moving in and out, administration (taking minutes), taking pictures, documenting the condition.
Maintenance
- regular inspection of the property
- troubleshooting with appropriate specialists
- repairs, replacements, finding specialists if needed
- insurance administration
Keep in touch
Keep in touch with both the owner and the Tenant, regularly, in Hungarian and English.
2. Real estate development
Partial or complete renovation of the property:
- survey
- design of a new floor plan
- demolition and construction
- energy modernization: electric, water, heating system
- painting
- coverings, doors and windows, joiner work
- new furnitures (on demand or in accordance with the Owner’s request).
Furniture and furnishing are available on request, if necessary, even on the order of an interior decorator. Create a design, select and order the right furniture, deliver, pick up and assemble, clean up, and then take professional pictures at the end of each job.
Our apartments are ready under REFERENCES!
3. Financial activity
- Supervision, controlled payment, collection of rental fee and overheads
- Solving non-payment issues
- Generate and send a regular financial report to the owner, which includes all financial transactions, revenue and expenses.
4. Administration
- Setting up a company
- Obtaining permits
- Contract making
- Check in to Tax Company NAV
- Accounting
- Tax and accounting consultancy
- Conclusion of home insurance and settlement of claims
5. Administration with utility service providers
- Administration with utility service providers (consultation, modification, rewriting hours)