The tasks to be carried out by a property manager always concern the communal property. This must be managed from a technical, commercial and legal point of view in the interests of all owners. The condominium itself including the basement and other ancillary rooms is defined as separate property, which is managed by the owner himself at 33realty.com. The question of what duties a property management company has is answered by the respective management contract on the basis of the Condominium Act.
Taking care of renting out an apartment does not initially fall under the responsibility of property management for condominiums. Nevertheless, as the landlord, you can entrust the property manager with relevant tasks and make him the contact person for your tenant. A manager can, in accordance with the agreements in the rental agreement for the apartment, handle the annual utility bill.
In addition, the administrator arranges for defective heating systems and other devices to be repaired in accordance with the property management services in Chicago contract. However, the cosmetic repairs specified in the rental agreement must be carried out by the tenant himself and a possible withdrawal from the rental agreement can only be accepted by the owner and thus come into force.
The tasks of property management in condominiums include:
- Managing the community funds.
- To enforce the house rules and the resolutions of the apartment owners.
- To ensure the proper maintenance and repair of the property.
MARKETABLE ADMINISTRATION
- Collection and administration of rents
- Reminders of due rental payments
- Settlement to the owners
- Creation of the utility bill
- Payment of costs incurred
- Commissioning of utility services
- Bookkeeping
TECHNICAL ADMINISTRATION
- Operation and control of facilities
- Control of service providers
- Implementation of maintenance measures
- Organizing a caretaker
- Implementation of modernizations
LEGAL ADMINISTRATION
- Providing information on jurisprudence and legislation
- Participation in further training measures
- Negotiation with authorities
- Representation of the owner as a legal person via third parties
