Property-management companies

Overview

Property management divides into condominium management (paid by the owners’ association) and rental management (commonly a percentage of rent plus leasing and renewal charges). A key conflict is that management companies may also sell repair work, so a repair proposal is not automatically independent. For a condominium, judge the management by the building’s finances and minutes; for a rental, compare the management percentage and leasing/renewal fees.

Fees and conflicts to check

A management company’s repair proposal may not be independent; review it separately, especially where the manager profits from the work.

What to verify before you rely on it

In short: Condominium management is paid by the association; rental management is a percentage of rent; Rental managers also charge leasing and renewal fees; A management company may also sell repair work — a conflict; Review the repair proposals independently.

Whatever the category, establish three things before you rely on a provider: what kind of business it actually is (a licensed broker, a portal, a referral or media business, a manager, or an independent professional), how it is paid (by you, by the seller or lender, or through referral), and whether its advice is therefore independent of the transaction it is recommending. Ask for fees in writing, verify any licence and disciplinary record through the official registries, and treat a free service as one paid by someone else — usually an advertiser, a lender, or the seller. An English-language website tells you nothing about representation, so confirm whose interests the provider serves in your specific deal.