Having a good property manager to oversee repairs and renovations can be advantageous for several reasons:
- Professional expertise: Good Property managers have experience and knowledge in managing building renovations and construction projects, which is be beneficial in ensuring that the project is completed efficiently and effectively.
- Time management: Property managers will take on the responsibility of coordinating contractors, scheduling work, and managing resources, which will save the property owners time and effort.
- Cost management: Property managers will help to ensure that the renovation project stays within budget and that cost overruns are avoided. They can also negotiate pricing and contracts with contractors and suppliers to help reduce costs.
- Quality control: Property managers will ensure that the renovation project meets the desired quality standards and that the work is completed to the required specifications. They can also conduct inspections and manage any necessary repairs or corrections.
- Communication and coordination: Property managers are acting as a liaison between the owner and contractors, ensuring that communication is clear and that everyone is on the same page. This is helping to prevent misunderstandings and delays.
Overall, having a good property manager oversee renovations provides peace of mind for property owners, knowing that their investment is being managed professionally and efficiently. It also helps to minimize risks, prevent costly mistakes, and ensure that the project is completed on time, within budget, and to the desired quality standard
The cost of building renovation management varies depending on several factors, such as the scope and complexity of the project, the location of the building, the experience and expertise of the project manager, and the duration of the project.
Typically, building renovation management costs can range from 10% to 15% of the total project cost.
It’s important to note that the cost of building renovation management is an investment in ensuring that the project is completed efficiently, effectively, and within budget. A skilled project manager can help to minimize costs and avoid costly mistakes, delays, and rework.
When considering hiring a building renovation manager, it’s important to discuss the scope of the project, the manager’s experience and qualifications, and the proposed fees to ensure that both parties have a clear understanding of the expectations and costs involved.
