I. Property manager/ Property management company:

When should you consider employing a Property manager/ Major Domo or hiring a Property management company? In general, if your Property has more than 6 staff or if you have more than one home with permanent staff. If you are in the process of buying a new property, the sooner you find a Property management company or hire a Manager (full or part time), the fewer problems and more enjoyment you will have from the property.

When comparing a Property management company to the employment of a property manager, there are many advantages and only very few disadvantages. Beside guaranteed quality at a lower cost such company offers: immediate availability, independent control, greater flexibility etc.

The Manager or Property Management Company reports directly to you and is much like the CEO and CFO of the Estate. If you have a qualified Property manager or professional Property management company all the following listed topics are automatically included in their duties.


II. Budget:

The budget for your Estate should consist of two groups, fixed and variable expenses. The variable expenses will always be an estimate, since it largely depends on your wishes and needs. A computer program is the best solution to control the Property budget and expenses and can easily be forwarded to your auditor. It is advisable to have two separate bank accounts for the Property. Your most trusted staff should have access to one of them, for emergency situations. This accessible account should only carry limited funding and have limited cash flow access.


III. Alarm management and emergency procedures:

Often forgotten, this is one of, if not the most important topic covered in this guide, since it is for the safety of your family, guests and yourself.

As an absolute minimum, the Property should be equipped with the best available first aid kit, the latest version of fire/smoke detectors and all the necessary tools in case of fire. The staff must receive training in first aid and the operation a fire extinguisher. There must be a manual for alarm and emergency situations and the staff must be trained according to this on a regular basis. This manual must describe in detail the way to handle any kind of emergency or alarm situation step by step, including all telephone numbers and location of hospitals etc.
As a note, a nice food basket delivered to the local police department and fire department during a seasonal holiday will always be appreciated and helpful.