The property manager follows through on the responsibilities associated with owning and managing a property, and does so by acting on behalf of the owner. The specific tasks to be performed may vary, and are specified by contract. There are two categories of property management: commercial and residential. The services provided by a residential property manager offer many advantages to owners, whether they are nationals of the country where the property is located, foreign residents or non-residents.
The requirements for monitoring a property vary, but as a general rule, the main benefit of a property manager for the owner is to be spared the stress - and hassle - involved in the day-to-day management of a property, while having the comfort of knowing that all is well.
Open Up manages all eventualities in a timely and efficient manner, saving time, energy and money for the owner. Joining our owner's club is a way of securing an investment and enabling investments without geographical barriers. Not only do owners have the peace of mind that comes with handing over responsibility to a competent partner, they can also consider property investments in parts of the world where they may not be familiar with local legal requirements and procedures associated with home ownership.
A private property manager can have a more or less extensive portfolio of responsibilities, and this can be further enhanced by concierge services.
Owners of rental properties generally use the services of property management companies to manage certain aspects on their behalf. In France, responsibility for drawing up rental contracts and collecting rent lies with estate agents - this is laid down by law - while the property manager can provide additional services such as tenant identity checks, check in/check out, and take care of all repairs and general maintenance requirements. This guarantees owners a higher level of service.
In the luxury sector, Open Up offers personalized services that can be tailored to meet the specific needs of owners, and provides high-end concierge services to complement them. This level of service is particularly appreciated by owners of second homes or pied-à-terre properties held exclusively for their own use or made available to their guests.
Our main duty is to ensure that the property is properly managed. The range of property management services covers holding keys, carrying out property inspections, handling mail, maintaining the property, setting up EDF/GDF, Internet, telephone services, hiring and supervising cleaning staff, taking care of maintenance, repairs and renovations, acting as the owner's agent with the owners' association and insurance agents, providing updates on relevant administrative, tax and legal requirements and liaising with lawyers, notaries if required.
Key safekeeping
Open Up has custody of the keys and will welcome owners and guests on request, and provide access to contractors if required. We can also be the point of contact for the alarm and security company, if such a system exists.
Apartment maintenance
We ensure that the appearance of the property is maintained to the highest standard at all times. This may include maintenance and watering of plants on terraces and balconies.
All minor repairs are handled by the manager, who can find the best service at the right price. He/she has reliable sources of tradesmen and repair services with a proven track record and is in the best position to get the job done efficiently and on time. A price threshold can be agreed with the owner, whereby all repairs below the threshold are automatically handled by the property manager, then invoices are sent to the owner, while all repairs above the agreed amount are submitted to several companies for a quote, then submitted to the owner for a final decision. In France, it is common practice to have three such estimates.
Regular inspections of your property
Open Up will inspect all facilities at regular intervals, to be determined according to the owner's wishes. The property manager checks that everything is working properly, that there have been no changes in the property's appearance, and usually carries out troubleshooting, anticipating future maintenance problems, thus reducing costs.
Mail and bill payment
Open Up will collect mail, scan and send all documents by regular mail or electronically, as agreed with the owner. Invoices can also be paid by the manager if required.
Hiring and supervision of house staff and subcontractors for service visits
Open Up can be responsible for finding reliable and efficient cleaning staff, then assigning specific tasks, supervising the work and ensuring payment is made. This can be on a regular basis, or whenever the owner intends to use the property or make it available to clients or guests. The same applies to gardening and landscaping staff. Open Up also ensures that appliances or machinery requiring regular maintenance are properly serviced (e.g. gas heaters, individual heating systems and security systems). The property manager schedules visits and provides access to the property.
Supplier contract management
For new owners taking possession of a newly acquired property, Open Up can help set up the necessary contracts with utility companies (gas, electricity, water), and with the chosen telecommunications and Internet provider. If there is a variety of choices for gas and electricity suppliers, the property manager may be called upon to research the best offers and submit the information to the owner, who can then make an informed choice. The same applies to telephone, television and Internet services. Supplier coverage and price schedules can be compared, a valuable service for owners who may not speak the language or who may have difficulty comparing service levels.
Decorating and renovating your apartment
The property manager can also assist with renovations and upgrades to the property. This can extend to any or all aspects of a renovation project, from finding an architect to sourcing materials and organizing delivery and supervision of the actual work. Renovation can be managed literally from A to Z if the owner doesn't want to follow them and doesn't have the time or inclination to get involved. Here, the property manager's advisory role can be critical: knowing where to find the best materials, how to manage subcontractors and deliveries, and generally ensuring quality control over the whole process can be very complicated and time-consuming.
For renovation projects, Open Up Paris maintains a comprehensive list of first-rate, reliable suppliers and contractors with whom we have a good working relationship, guaranteeing quality service at preferential rates. We can supervise the delivery of supplies and materials, monitor work in progress, organize on-site meetings with contractors and owners via electronic platforms, or send photos to show progress; in other words, we can be involved throughout the renovation process to guarantee the best possible end result.
Open Up Paris also offers customized interior design services. Based on our customers' specifications and budget, we draw up design proposals and carry out the necessary research into all available decorating and furnishing options. These services can be provided for properties intended for rental investment or as a personal home. They can also be provided in partnership with the customer's architect and/or interior designer.
Mandate to represent co-owners at AGMs
When there are several owners in the same building, the owners' association that makes decisions on behalf of all owners by law will hold annual meetings and expect owners to be present or represented by proxy to vote on all agenda items. This can be very important, as all decisions affecting the common parts of the building (these include the roof and gutters, balconies and terraces, stairwells, elevators, ground-floor entrances, garbage areas, courtyards, shared power lines, all pipes outside individual units and garages) must be discussed and voted on by all owners at these meetings. Some of these decisions have far-reaching financial consequences. Your property manager can be mandated to represent the owners and vote on their behalf, in accordance with their instructions. He or she is also the best person to explain the advantages and disadvantages of these procedures, as well as the stakes involved. In this respect, their professional experience can be of great value to an owner who is unfamiliar with the ways of doing things or the requirements that may be imposed by law.
Moving home
Open Up can help with moving into a property and supervise the moving company, particularly packing or unpacking.
Administrative, legal, tax and insurance issues
Here again, your property manager is an important source of information on new or existing regulations, and can help explain and understand some of the intricacies of the law applicable to owners; tax regulations affecting non-residents or nationals who own property in another country are an excellent example. These regulations change from time to time, and having a reliable source of information that can point to upcoming changes or consequences for owners can be extremely beneficial when managing a real estate portfolio or protecting an investment.
Insurance claims resulting from damage to the property ,from an adjacent unit or a third party, or damage caused inside the property (this usually involves water damage) can easily be handled by a property manager who acts as an agent for the owner and liaises with the insurance company. The property manager will have an advantage in dealing with the insurance company as he/she already knows how the law works and what steps need to be taken from the moment the damage occurs, how to report it and follow it up.
All in all, quality property management takes the stress out of home ownership, offers a guarantee that any problems a homeowner may face at any time will be dealt with not only efficiently, but also cost-effectively, removes obstacles that might otherwise stand in the way of foreign ownership, and ultimately helps preserve the value of a real estate investment.
Open Up Paris can help you manage your Parisian property efficiently and effectively.
