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Property Manager’s Guide to Preserving Property Values

The role of a typical property manager is usually seen as one where the person is appointed to be responsible for the operating and transferring, as well as the selling and leasing of property owned by someone else. Their responsibilities are to see that all aspects of a real estate property is managed and handled effectively and efficiently to the satisfaction of everyone involved.

The leasing and selling of property under a manager’s control is the primary duty expected, but in the wider context, a regular regime of property inspection to ensure that everything is working properly, and to initiate repairs when and if they become necessary, is definitely an important secondary role of a property manager.

Keeping up with home maintenance and making sure that everything is in good working order, as well as being clean and tidy, goes a long way towards preserving home property values in an area. If even one property falls into a state of bad disrepair, it can adversely affect all the properties in the area, bringing down their values to an unacceptable level.

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Preserving property values on the outside …

First impressions count for a lot, and if a prospective buyer arrives at a property and sees a lawn or grounds that need tidying up with unkempt grass that needs mowing, they will not have a good first impression, and may well decide to move on and seek houses for sale elsewhere.

A simple answer for professional property managers is simply to keep the lawn well trimmed. The same applies for trees, bushes and hedges. Keep flower beds free of unsightly weeds, and even plant more bright and colorful flowers if you think it will significantly improve that vital first impression.

Something as simple as loose flaking paint on the exterior of a real property can be all it takes to put off a potential buyer, or even someone thinking to lease the property. The outside of all buildings under a manager’s responsibility should be inspected regularly and all the little annoying things that are not quite perfectly right should be fixed.

Draining systems are susceptible to damage and should be inspected regularly too. Their basic functionality should be checked, and any loose debris clogging up downspouts should be removed, and any minor problems repaired. These are the kind of things a buyer will notice first. They may not be major problems in themselves, but they could be a major barrier to a buying mindset.

All buildings should have a full property inspection at least once a year. It is best to bring in a professional who can properly assess the condition of the walls, gables and roof, as well as all doors and windows. A professional can then advise on a course of action, if required.

All roof repairs should be undertaken as soon as a problem arises. No tenant or new owner is going to like a leaking roof. Regular preventative maintenance of the roof can spot possible problems before they become serious problems.

Preserving property values on the inside …

A property interior that is badly outdated, for instance in general design, is usually very off-putting for any prospective buyer. This may be less of a problem for someone looking to lease the property, but in general, keep the interior design up to date. The best plan is to have the kind of interior design that is evergreen and long lasting, and not some extreme trend that will quickly look out of date in a year or so.

This also applies to furniture and furnishings. A property with an interior design that looks like a bad advert for the 1960s may be considered fab and groovy by a prospective buyer, but don’t count on it. A classic, timeless design look will secure more sales and rental agreements every time.

Property management is not difficult if you keep on top of it. Keep up the quality of the interior through regular inspections, and touch up with paint as required. A modern overall look with modern furniture, furnishings and fittings, that are kept smart and clean, will go a long way to preserving property values, and to persuading potential buyers or rental clients that they have finally found the perfect place.