Some of the questions that we are often asked at Borey Williams is what is property management? Why does this carry a fee? In this article we will try to answer those questions.
What is Property Management?
The first thing to point out is that this is nothing special to Cambodia. It is common throughout the world where there is community property, gated communities or even leasehold property for there to be a property management fee.
Property management involves the transparent collection and allocation of management fees that go towards common areas within the borey development.
What Do Property Management Fees Involve?
The property management fees collected are then used to carry out repairs and maintenance on communal areas, as well as to provide a budget for the repair and replacement of elevators in high-rise buildings.
The benefit of these fees is that they guarantee the quality of leisure and community facilities in the borey developments, through regular payments rather than necessitating some unwanted bill where essential repair work is needed, often at the worst possible time.
Part of the reason why people choose to purchase a property in a borey in Cambodia is the quality of their communal spaces and facilities, property management charges ensure their continued upkeep.
Service for Property Owners and Tenants
Property management can also include finding and screening potential tenants for properties. In addition to this, property management allows developers to processes contracts, collect payments and handle any tenant evictions that might be required.
Part of the reason for purchasing a property within a borey in Cambodia is the peace of mind that accompanies it. Property management ensures that property owners do not have to worry about the nitty gritty of administrative matters within a community borey. Instead you can continue to enjoy the lifestyle you chose when you purchased your borey property in the first place.