In light of recent global events and the current financial situation, anyone involved in budgeting will want to ensure that their funds are well spent. Communal complex committees, too, will be under even greater pressure to get the best possible value-for-money services for their fee-paying owners.
Obtaining an accurate quote, has, therefore, never been more important, as such committees begin to feel the financial pinch. However, before any professional complex management company can reasonably be expected to furnish such a quote, it must have concise and up-to-date information. From the number and type of units on the complex to details of the communal facilities and shared utilities, these are just some of the information that is crucial in calculating the real cost.
The importance of budgeting assistance
Although a committee may know its current costs inside out, a professional complex management company will have access to a wealth of industry data, both current and historic. An accurate quote can only be arrived at following, at worst, scrutiny of the existing budget or, better still, through creating a new one from scratch.
After all, if your chosen complex management company is going to be able to take on responsibility for the day-to-day running of your complex, they need to be fully on-boarded. A worrying fact is that some committees are missing out on the full benefits that complex management companies can provide due to reticence in sharing core information.
Forming a trusting business relationship
One key aspect of successful complex management lies in how readily a committee’s members can grasp the concept that the management company wants to work “with” rather than “for” them. Yes, of course, a professional service provider will have a financial interest in terms of needing to turn a profit, but they will also appreciate that they are embarking on a working relationship.
Open and regular communication between the complex management company and the committee/owners is the best tool of choice in maintaining this all-important working integrity. When both parties can successfully “buy into” this concept, information will continue to flow smoothly between them and the goals of both are far more likely to be met.
Setting off on the right foot
Understanding how these working relationships and channels of communication work from the outset is perhaps one of the most crucial factors in a complex’s success. Should anyone have any doubts about the real cost of failing to get these basics right from the start, a drive past some of the more sorry-looking complexes should offer some insight.
It is a fact of life that problems do tend to build up on top of one another and unravelling issues later will not only take up valuable committee time, it will also cost money.
We are confident that committee members reading this won’t need to be reminded of the hefty responsibility they have when it comes to handling their owner’s fees. The good news is that a professional complex management company can identify and thus prevent future issues, provided that they have access to relevant and up-to-date information.
Don’t leave anything to chance
Here at Lee Property Services, we offer a highly professional service to residential complex committees and their owners. Our proven track record and client satisfaction speak for themselves as does the number of successful complexes we currently manage.
Contact us today and take the first steps towards successful Cyprus complex management.
