5 things a Community Management company should have
Real estate property is a high value asset that needs the proper maintenance and care to keep all of its amenities in prime condition, delivering residents with a pleasant and comfortable living experience. To do so, you’ll need to select the right Community Management agency that is committed to maintain high service standards throughout the years they’re involved with the projects. But what can guarantee you an efficient service? Here are a few tips that can help you properly vet and select the right Community Management agency your property needs.
1. Years of experience
The right Community Management agency needs to count with a significant amount of years of experience in the market. An experienced agency knows the laws and regulations, they also tend to have an established system that helps them optimize your building and effectively allocate the necessary resources and budget efficiently. We also recommend you to extend the vetting process to their personnel. The team is the primary asset of an agency of this sort. Visiting LinkedIn profiles can provide you with an idea of their professional background, whether it's legal within the legal or hospitality industry. The right agency will have multiple professionals from different areas, each one with their unique talent or cognizant abilities that can benefit your property.
It is important to weigh in past experiences from previous clients. It goes a long way to check the company’s verified Google account and assess what others are saying about their service. No company is perfect, it is only natural to encounter positive and negative reviews. However, look for those reviews that contain key information about their service standards, procedure and response time. This will provide a better understanding of how the agency deals with requests and unforeseen issues in the residences that they manage, ultimately impacting the lives of those who matter most…your residents.
When it comes to managing a property in Dubai, one of the most valuable intangibles is the commitment to transparency. This company value transcends to honest and accurate reports. Sharing relevant data with the Owner Association, makes all relevant stakeholders aware of the property’s current situation. This helps both, owners and Management Agency, to openly discuss possible concerns and areas of improvement that can help the residences managers achieve the established objectives.
4. RERA compliance
It is important to make sure that the company complies with all the rules and regulations set by RERA - Dubai Land Department. A community Management Company must possess all relevant certificates provided by DLD that authorize its operations within Dubai. Certifications such as insurance certificate, business registration, tax compliance, and other requirements that permits them to deliver a service without any legal repercussions.
As the years progress, technology continues to become our greatest ally, especially in the real estate industry. The key to hiring a successful Community Management company is their ability to maximize efficiency through an automated process. Allowing owners to access updated data and information that will provide a better insight of the building’s performance, expenses and resources. An excellent Community Management company will also facilitate Service Charge notices and payment for their owners, making it a quick and simple transaction.
Why hire Strata Global?
Our experience speaks for itself. We have been in the market since 2005, successfully managing the largest luxury property portfolio in Dubai. Our leadership and managers are composed of different professionals who input their knowledge and talents into delivering high standards of service. We work transparently and abide to all RERA rules and regulations, using their established system Mollak to facilitate Service Charge payment. Get in touch with us today!