A lot is required of your residential building in Harlem. Homeowners are expecting a safe and pleasant place to live as well as increasing property values. The New York City community and your Upper Manhattan neighbors expect that your building will be safe and sound – up to date on all its inspections and maintenance. Potential buyers are looking for good reasons to choose a property in your building over any of the others they’ve seen.
It’s a lot.
Working with a third-party manager can be a game changer. If you’re not already benefitting from the guidance, support, resources, and expertise that a local property management company can provide, it’s time to take a look at why professional management is so important.
Saving Homeowners Time and Avoiding Frustration
Homeowners and association or co-op board members do not want to spend a lot of their time taking care of building matters, enforcing rules and regulations, or collecting dues and assessments. It’s hard to find fellow residents who are interested in so much work – or even qualified to do it.
With a third-party management company, you’ll have someone else taking care of the day-to-day details that come with keeping your building up and running. While being involved in building matters and serving on a board can be very rewarding, homeowners quickly grow tired of it. It leads to awkward encounters with neighbors and you may have a hard time attracting new buyers if they know they’ll be expected to take care of vendor contracts and other administrative duties within the association.
Reducing Risk and Keeping Costs Low
Third-party property managers can provide professional, transparent financial oversight that helps your building to provide better accounting. You won’t have to worry that money is being wasted on unnecessary services. There is less risk that you’ll overpay for things like cleaning, landscaping, and pest control. Property managers have existing relationships in place with vendors who are good at what they do and offer affordable prices based on the volume discounts that they can provide their property management clients.
If your building needs a new roof, for example, homeowners and condo board members can spend weeks and even months gathering quotes, interviewing contractors, and making decisions about budgets, scope, and timeframes. Your property manager will be able to navigate such a project in a fraction of the time. All of their systems and relationships are already in place.
Harlem Property Managers Can Limit Liability
Are the homeowners or board members in your building able to stay up to date on all the latest laws and regulations for residential buildings in New York City? A third-party property manager is already prepared to help you navigate through the city’s complex list of ordinances, filing deadlines, inspection requirements, and other legal matters. Missing deadlines, not making required repairs, and failing to obey city ordinances can end up costing you and your building a lot more money than you want to spend.
Technology and Best Practices for Residential Buildings
Better technology leads to more efficient work and better outcomes. Most property managers will be completely set up online, with the necessary software, portals, and communication strategies to ensure the smooth running of your building. Volunteer board members and co-op leaders are busy, and that’s why professional third-party association and building management is a good idea. Contact us at Harlem Property Management to learn more about our services.
