Administration
Property management involves overseeing the daily operations and maintenance of residential, commercial, or mixed-use properties.
Services include managing contractors, ensuring compliance, handling resident issues, and maintaining the property's overall condition and functionality.
Financial
The financial scope of property management includes preparing and managing annual budgets, issuing and collecting maintenance fees, maintaining proper accounting records, managing sinking funds, handling payments to service providers, preparing financial reports, and ensuring compliance with audit and statutory requirements.
It also involves advising on cost control, arrears management, and financial planning to ensure the long-term sustainability of the property.