Many people wonder about the profession and the role of a property manager. Why should I hire a property manager? What is the interest of having a property manager? Indeed, the presence of a property manager in each residence is essential to ensure the proper functioning and maintenance of the latter. The property manager plays a decisive role, he is an intermediary between the co-owners of the same residence. It allows to ensure the durability of a building and its common parts. This article will allow us to clarify the role and the duty of a property manager.
Defend the interests of the co-owners:
The property manager's main mission is to defend the interests of the co-owners at the legal level, he is the spokesperson and legal representative of each owner of the same residence. He is also in charge of drawing up contracts with professionals who must intervene on the building. For example, concerning the cleaning of the common areas, the property manager proposes a list of three companies to the syndicate of co-owners, according to the choice of the latter, the property manager will have the responsibility to write the contract binding the co-ownership and the company. He will also make sure that the company carries out its work correctly throughout the year.
Administrative management of the co-ownership:
During the entirety of his mandate, the property manager will be responsible for keeping an up-to-date list of the various co-owners as well as the list of lots related to each of them. Moreover, each year, he will have to convene all the co-owners during a general assembly in order to be able to vote the decisions relating to the maintenance of the building and the common spaces.
Ensure that the co-ownership rules are respected:
In each co-ownership, there is a document called the co-ownership rules governing the rights and obligations of everyone. Each co-owner has this document and the property manager's role is to ensure that it is respected. For example, the co-ownership regulations may prohibit owners from renting out their property on a seasonal basis, as this does not respect the purpose of the building. This is why our BARNES Mauritius teams encourage you to read the co-ownership regulations if you wish to purchase a property.
Apply the decisions voted in the General Assembly :
During the general assembly, many decisions can be taken. It is a vote where each co-owner gives his opinion: favorable or not. If for example during a assembly, a facade renovation was voted by the co-owners, the property manager will have to make apply this decision and thus launch the renovation works. He will also make sure that the work is well done.
Keeping the accounts of the co-ownership :
Finally, the property manager must take care of keeping the accounts of the co-ownership up to date. He must pay all the companies and suppliers but also claim the calls for funds from the co-owners. His role is to ensure the good financial health of the co-ownership.