Understanding Property Management
Every time we travel somewhere, we rent a room in a serviced residence condominium or book an Airbnb unit. We do not and never have stayed in hotels. The number one reason for this is simple: a serviced residence or an Airbnb unit is more practical because we’re actually paying for a “home away from home”. Instead of paying Php3000++ per night for a room, we pay a more affordable rate for a condo unit where we can do a lot of stuff that we do in our own homes: cook food, fill the refrigerator and freezer with food and drinks, watch cable TV, use the WiFi connection for free, and sleep soundly on a comfortable bed. It’s like having a home during your vacation.
This is basically the reason why there is such a thing as property management. It may sound new or complex to you but it’s actually a very simple concept. According to Business Dictionary, property management is “the process of managing a property that is available for lease”. A property management company or manager maintains and handles the daily activities centered around the said property. Some of the tasks involved in property management include looking for tenants who will rent the space, collecting the daily/weekly/monthly rental payment, keeping the property well-maintained (clean and well-stocked).
Management responsibilities also include making sure that all appliances and furniture are in good condition, as well as keeping utilities (electricity and water) payments up to date.
To make it clearer, though, here is a list of the tasks performed by a property management company or a property manager:
- The Rent – Property managers are responsible for setting, collecting, and adjusting of the property’s rent. Aside from rental fees, property managers are responsible for collecting and arranging lease, too.
- The Tenants – Property managers are also responsible for finding, screening, and handling tenants (including those who are about to move out). Additionally, property managers are expected to handle tenant and property-related complaints and emergencies.
- Unit maintenance and repair – Property management companies or managers are expected to take care of regular maintenance, as well as emergency repairs, of the rented unit/s.
- Property managers also have the following responsibilities: knowledge and understanding of laws related to landlords and tenants/rentals and lease (including tenant eviction and lease termination laws), employee supervision (if the property has other employees like front desk staff and a housekeeping team), and proper knowledge and understanding of budgeting and property/investment taxes, among others.
Most of the properties handled by property management companies or managers are apartment complexes, commercial buildings, and condominiums.
Here in Cagayan de Oro, one of the real estate properties that offer the benefits of property management is Primavera Residences, the city’s first eco-friendly condominium. Italpinas Development Corporation (Primavera’s developer) partnered with Damiani Property Management & Services Inc to offer first-class accommodations via Primavera Serviced Residences.
Visitors and Kagay-anons who want a relaxing break from the daily stresses of life can enjoy a comfortable stay and experience the conveniences of living in an eco-friendly structure like Primavera. All units (studio, one-bedroom, and two-bedroom) are equipped with the finest furniture and amenities, thus making sure that every moment spent in the unit (and building) is relaxing and satisfying.
Primavera Residences is a unique structure not only because of its minimalist Italian architecture and design but also because of its green features. Air can freely go in and out because the building is built with a natural ventilation system. The units all have cross ventilation systems that reduce indoor heat, and the condo has extended awnings for maximized light and shadow. Additionally, Primavera Residences has photovoltaic solar panels on its rooftop.
Try Damiani and Primavera Residences
So now that you have an idea of what property management is all about – and what you can get out of it, are you ready to try it? If you are raring to experience property management at its best, all you need to do is get in touch with Damiani Property Management & Services Inc. They are the ones who will take care of all your needs and make sure that you stay is relaxing, comfortable, and memorable.
And the best thing about this is that Italpinas is currently developing Primavera City, another world-class, Italian-living-inspired, and eco-friendly condominium. By this time next year, you’ll have more choices to relax in comfort and style!
Primavera Residences, Damiani Property Management & Services Inc, and Primavera City are located in Uptown CDO.