Question #1: How long has you Company been in the management business?
You will derive the greatest benefit hiring a Company with rich experience in a specific aspect of management. And whilst a lot of companies try to provide services within the full range of products of management, they frequently also manage business – such as a hotel, a tourist complex, office buildings, apartments for night accommodation or have a Company and collect fees exceptionally for maintenance and repairs. As a whole, most completely the attention and accessible fees will come from companies which strictly concentrate onto the management and lease in one niche only. What is our niche? We manage:
- Solely residential properties,
- Only in Sofia,
- Solely of long-term Lessees with a Contract for minimum 1 year.
Question #2: Do they agree to let you meet the personnel who you will potentially work with?
When you meet people who could potentially manage your ownership, they open up their personalities and what is of greater significance, development of interrelations starts up. They are not simply names any longer. In lieu of that, they become people, reliable partners, whom you rely on to attain your objectives.
Question #3: How does your Company support training?
Training provides the personnel of the Management Company with possibility to remain on top, in conformity with the newest rules and trends of the branch, and it also renders assistance to the maintenance of stable business practices. It will guarantee you that the future employees and Managers are ready to follow the values of the Company.
Question #4: What does your Company practice to provide you with effective communication?
Communication plays a significant role in the successful management at each level. Regardless of the fact whether it is between the Company and the employee, the Owner and the Company or the employee and the Lessee. As clients, you should be sure that the communication channel provides prompt consideration of the questions. Further to that the system for monitoring and verification should work to identify when and where the problems are not solved.
Question #5: What are the fees for use of your services?
Representatives of the Management Company should always be preliminarily clear about the fees they will receive. They should not depend on the market conjuncture but be firm and well clarified.
Question #6: What are the guarantees and the commitments of the Company with regard to the service you use?
Does your Company undertake guarantees IN WRITING about the services it provides you with? Are their guarantees clearly defined or vague? I will give you an example: Upravlenie BG guarantees in writing permanent occupancy of your property.
Question #7: Are the responsibilities of the Management Company in events of non-fulfillment of the commitments undertaken clearly defined?
Will you receive financial default penalty if the guarantees of your Company are not fulfilled or do you have guarantees solely in hard copy?