Types of Property Management Company Service
There are two main services that a property management company offers.
◆Property Management Outsourcing
You can give authority to a property management company to take care of your property on behalf of you.
Property management involves:
・Cleaning public areas like hallways and stairs
・Maintenance on equipments
・Tenant management such as getting new tenants or collecting rent
・Trouble shooting such as dealing with claims or any other emergencies
◆Subleasing (Bulk leasing)
Subleasing is bulk leasing managed by a subleasing company who ensures and pays you certain rental income.
In other words, the owner lends out all the rooms to the subleasing company as bulk and they basically run your building. Subleasing contract is usually renewed every few years and the amount of rent guarantee goes down each time.