Why not hiring a Property Manager can turn out to be costly
Some people may excuse themselves for not doing so because of the Property Manager’s fee, which may indeed be somewhat higher than those of a Management Agency. However, as many Communities or Resident’s Associations have already found, it is best to engage them in order to avoid the following problems:
- Property Managers, like lawyers or solicitors, are members of a professional body, meaning that they can fully represent the community (Resident’s Association) saving the community work, travel or management, thus taking a lot of the onus from the community presidency.
- The Property Manager also organises charging of the residents, a function previously performed by the treasurer. Especially in larger communities, a lot of work is saved and the minimum indebtedness is assured when the payments are collected through direct debit.
- Should a legal conflict with a third party arise, the Property Manager can legally represent the Community.
- Property Managers also take care of emergency repairs in all areas.
- Very important: the Property Manager prepares the annual budgetary plans and recommends to the Community where they may be able to save money.
To better understand the problems that a Community may face without a Property Manager, one can simply add up the individual cost of each of these services provided by different companies to verify that the Manager’s fees are a worthwhile expense.
Why not contracting a Technical Architect can prove expensive
- Consultancy Services. In addition to ensuring works are executed in accordance with the plan, Technical Architects offer consulting services to law firms, property managers, real estate companies, construction companies and individuals.
- He/She is empowered to prepare projects for the opening of commercial premises, real estate appraisals and to provide valuations, technical inspections and expert reports, among other functions.
From there, whether you are a private individual or a company, not hiring a technical architect can lead to the following problems:
- Legal Issues. The law requires that site direction be coordinated by a Technical Architect, Master Builder or a Clerk of Works. Failure to do so can lead to heavy fines.
- Safety. The Technical Architect must always be on site to ensure that each aspect of the construction is implemented in accordance with the plans and that current health and safety regulations are adhered to.
- Certifications. Again, without the required site direction, certification that everything is correct is not possible at the end of the works. This applies not only to the construction itself, but also electrical connections, drains, etc.
- Use of appropriate materials. To avoid future problems, the Technical Architect certifies not just the materials used, but also that they comply with the required safety standards.
Not having a Technical Architect to oversee and certify the works, may mean that, should a collapse or other accident occur in the future, substantial penalties or even a prison sentence could ensue were there to be serious damage or injury to a person or people. The Technical Architect is specifically responsible for avoiding all such issues by ensuring the exemplary execution of the works.
Source (translated): https://www.guiaserviciosproductos.com/pro/administrador-fincas-arquitecto.php