Condominium Property Management

A condominium is where a specified part of a piece of real estate is individually owned while use of and access to common facilities such as hallways, heating system, elevators, exterior areas is executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece.

Looking after a Condo suite is a full time job. From the moment you receive the keys to the day you sell the Condo, a good management company can make the difference between a profitable investment and a poor one.

Property Managers in Toronto will step in and perform, on the owner behalf, all the day-to-day tasks with regards to the condominium. These tasks include rent collection and bill payments. During the normal operation of a tenanted unit rent checks might return NSF, tenants might want to pay cash or use another banks to pay the rent dues. A local point of contact is needed. Bills need to be paid and constant contact must be kept with the billing agencies like the city, the condominium building management and the utility companies.

The local property manager is your tenant's point of contact for questions, requests and assistance. The professional property manager will be able to inspect the tenanted suites, supervise the tenants and buildings and keep an eye on the owner's interests.

When you get possession a tenant needs to be found. In Toronto, tenant screening needs to be done very carefully to avoid renting the property to an incompetent tenant.

Credit Check, Letter of Employment, references are one part of the screening and the experience of meeting hundreds of tenants is the other. Finding you a tenant quickly is important but doing it in a professional way is even more important to the success of your investment.

Know Your Needs Before Investing In Office Space

There are many factors that need to be considered before investing in an office space Midtown Manhattan, since a significant amount of investment is involved. While going for commercial space, there are numerous options depending on one's budget, requirements and available choices in the particular area. These include a serviced office, a virtual office, or a home office. I'm pretty sure that you would not want to waste even a single penny of your initial investment, or for that matter anything from your earned revenues. Hence, it is important that you ask yourself the following questions before taking the final decision.

· Is your establishment more of a one-man show or would you be involving others as well? This basically means whether you would be working alone or would be hiring staff for your operations. Obviously, in case of the former, you would not need an office space in Midtown Manhattan, since you can even work from your home.

· How many meeting/conference rooms would you need? Make no mistake about it; one conference/meeting room is essential in all aspects. All you need to decide is whether you need any more or not.

· Is it really important for you to have an office at a popular commercial location? This might be a vital necessity for some, who would want to protect themselves as one of the top-notch organizations, while others might scoff at the idea of having to pay more for less space. In either case, you need to decide, and modify your search as well as budget accordingly. In case you are low on investment but want a similar kind of address, it's best to go for a shared office space.

· How soon would you be looking at expanding your business? This is important for a number of reasons. First of all, increased clients and operations would mean more employees, which require more office space in Midtown Manhattan. Next, you might not be having issues in starting your business in a little less-known location, but depending on your vision, and the industry trends of your particular domain, you might need to select your next office space with a bit of future considerations in mind.

So, the next time you are hunting for office space, remember the above-mentioned points to make a wise decision that will benefit you for years to come. All the best in your business.

Property Management Considerations for College Housing

Property Management is not easy, but there are ways to make your job easier if you will understand a little about human psychology and work with the tenants whether they be business owners or residents. One group of properties that is an industry sub-sector is managing properties for college housing. The students will be renting the properties for the school year about nine months. So you need to average your costs over twelve months and total it up and then divide by nine for your costs.

Next you need to figure in the problems that occur and get busy signing people up for next year. Of course remember these are party animal kids and therefore you will need a substantial deposit from them up front and guarantees from their folks that you will be paid. If anything goes wrong you zap the deposit and let the parents know that one more incident and they are gone. Of course all this must be done swiftly, efficiently and without aggressive action. Warnings will help and nice polite staff is the key to diverting potentially hostile problems from these kids.

Being on good terms with the College or University is certain to help fill up the buildings through referrals from the student information offices. Finding additional properties can be tough if the area is not use to massive numbers of young adults in the area. Most citizens nearby will complain and attempt to prevent that type of usage, as it adds lots of traffic, parties and just over congestion to the area. These are all interesting considerations to be discussed when contemplating property management strategies for College Housing Units.