Living and working within a large office and housing complex can be quite a wonderful experience. If you live in a high rise or a home owners association you will pay a monthly fee. This monthly fee is referred to as an assessment. The assessment fee is paid to the building services Gold Coast or whatever area you live in. Many property management companies have business names that checks and payments are made payable to.
The monthly assessment for a home owners association will include a wide variety of services. If you reside in a high rise or multi-level condo building or apartment building the fees will cover different things then townhouses and single family homes. In buildings with elevators the monthly assessment will cover the routine elevator maintenance and repairs. The fee will also include electric within the hallways and stairwells of the building. In some downtown locations the monthly assessment fee will go towards a front desk staff and a doorman. High rise buildings also have garbage shoots for the residents to utilize. The assessment fee will go towards garbage shoot sanitation, repair and services as well. If there are amenities within the building the monthly fee will cover each resident’s usage of those amenities. Amenities include fitness centers, meeting rooms, pools and intercom services. Many high rise and condominium complex buildings also employ a maintenance technician 24/7 to handle any emergencies that may arise.
Residents that live in a single family home owners association or a townhouse association will see their monthly assessment fees dispersed differently. The property management company will often allocate these funds towards water feature upkeep. It is not uncommon to find ponds or fountains in these types of associations. The fees also go towards new roofs for townhouses; pool, clubhouse and common space upkeep are also included in the monthly assessment fees.
Business buildings hire property management companies for the same reasons. Businesses will rent space within a building and pay a monthly fee to the property management company. The company will make sure the elevators, lobby, common meeting spaces, lounges and other facilities are properly tended to.
The job of a residential and commercial property management company is to keep the grounds looking pristine and running effectively. Any items that break on the property can be addressed with the property management company. Bathrooms that need maintenance, appliances in common spaces, heating or air ventilation problems, leaking windows or any other concerns are handled by the property management company. The residents and businesses are able to go about their daily business and not have to worry about finding electricians, plumbers, handymen or any other trades people when things break. This monthly assessment fee removes the stress and worry from the tenant and the property management company is ready to address any repairs or concerns that a tenant may have. When you decide to live or work in a building that is management by a company it is important to read the rules and regulations and have a firm understanding of everything covered under your monthly assessments.