Property management services are one sign of a developed country
During my travels, I’ve noticed that professional property management isn’t something you find worldwide – much depends on local building, and health and safety regulations.
I have just come back from travelling down to the Falkland Islands and Chile, exploring the Atacama Desert. Oftentimes when I’m travelling, people ask me what I do for a living and I say that I run a property management company. This often gives them a puzzled look on their face. This is because unless you are in a major centre such as Santiago or Buenos Aires, property management is often a foreign, excuse the pun, concept to the local population.
One reason is that the buildings are usually smaller. Another reason is that concepts such as proactive maintenance, obtaining building permits, and health and safety are completely different from how we think in Canada.
Even in the Falkland Islands where you would think that contractors would follow British Building Codes, there is very much a pioneer spirit. Part of the reason is that the islands are so remote that the local population must be self reliant and therefore the locals do whatever it takes to make something work. This can result in a wide range in the quality of work that is performed.
Recently, our company was asked if we would assist with the setting up a property management company in a developing country. The significant challenge in this instance was to develop a network of skilled and qualified trades who keep current with global standards.
Here in Canada, we are very fortunate to have an abundance of qualified trades to work on properties. There is really no excuse for hiring substandard labour. Landlords who wish to maintain their properties at the highest possible standards have all the resources at their fingertips.
Your property manager should have a network of qualified trades at their disposal. These are often people they have worked with, so they know they comply with all the industry standards such as WorkSafe BC, Insurance, Bonding, and Liability, etc. This is just not the case in a developing country.
When Tenants Play Nasty Games
Tenants don’t always play fair, as shown in this story about a tenant who walked away from their possessions and suite…and then accused us of disposing of “priceless heirlooms”…
What to do if your tenant dies or is incapacitated
When tragedy strikes, your first instinct is usually to help. But before you do, you must ensure that your tenant’s rights are not violated, and that you are protected.
Small buildings need professional management too
Some landlords feel that their properties are too small to be professionally managed, but unless they have the time and expertise to do it well, they can run into problems like my friend did…
If you’d like to see what a client-focused property management company can do for you,
please contact our office at 604 873 8591.