Property management is a field that requires specific skills and organization. Property management is one of the most important aspects of property management, encompassing all operations related to the management of a property portfolio and its occupants. Are you looking for a property management service in Paris ? Don’t hesitate to contact us for more information on our various services.
What is Property Management ?
Property management covers all activities and services designed to ensure the smooth running of a building or property complex, and to optimize its value and profitability. It covers not only the technical, administrative and financial management of real estate assets, but also relations with tenants or owners, and the implementation of strategies to improve and enhance the value of real estate assets.
Technical management
Technical management encompasses all aspects of property maintenance and upkeep. The property manager ensures that equipment and installations are in good working order, schedules repairs and renovations, and monitors maintenance contracts with external service providers. They must also be able to propose solutions to improve the energy efficiency of buildings and reduce operating costs.
Administrative management
The property manager is responsible for managing documents and information relating to the property portfolio. This includes updating tenant files, managing leases and rental contracts, and monitoring regulatory procedures relating to building occupancy (building permits, administrative authorizations, etc.). Administrative management also includes communicating with occupants’ representative bodies, such as union councils or general co-ownership meetings.
Financial management
Financial management covers all aspects of property expenditure and income. The property manager draws up and monitors budget forecasts, ensures that financial commitments are met and optimizes operating costs. He or she is also responsible for invoicing rents and charges, collecting unpaid rents and managing disputes.
What are the Property Manager’s main tasks ?
Relations with occupants
Le property manager doit entretenir une relation de proximité avec les locataires et les propriétaires pour répondre à leurs demandes et anticiper leurs besoins. Il est le premier interlocuteur pour toutes les questions relatives à l’utilisation des espaces, aux travaux ou aux réparations, et doit être capable de proposer des solutions adaptées et réactives. La qualité de cette relation est un élément essentiel pour assurer la satisfaction des occupants et garantir la pérennité des locations.
Enhancing the value of real estate assets
The property manager’s mission is to enhance the value of the real estate assets under his or her responsibility. To do this, they must implement strategies to optimize and improve the buildings, which may involve renovation work, the adoption of more efficient technologies or the introduction of value-added services for occupants. This approach contributes to increasing the profitability of managed properties and enhancing their attractiveness on the market.
Regulatory and legal monitoring
Finally, the property manager must ensure compliance with legal and regulatory obligations relating to property management. They must keep abreast of legislative and regulatory developments and ensure that the buildings they manage comply with current standards (fire safety, disabled access, energy performance, etc.). They may also be called upon to represent owners in legal or administrative proceedings.
What skills does a property manager need?
Property managers need a wide range of complementary skills. Mastery of technical, legal and financial aspects is essential, as is a good understanding of the local real estate market and the expectations of different types of occupiers (private individuals, businesses, shops, etc.). Relational and organizational skills are also very important, as is the ability to work as part of a team and to manage conflict or emergency situations.
In short, property management is an essential element in the management of a real estate portfolio.
It encompasses all activities and services aimed at optimizing the performance, profitability and value of real estate assets, while ensuring a quality relationship with occupants. The skills required to exercise this profession are varied and call for solid training as well as significant experience in the field of property management. If you would like to entrust the management of your property to a professional, don’t hesitate to contact us!
