Admin
Property administration
Transparency in the relationship between property owners and the administrator is the essential foundation of the representation and management activities carried out on a daily basis. It is not merely a matter of professional ethics—it is a concrete commitment to trust, clarity, and collaboration.
For this reason, the preparation of a detailed price list, clearly outlining all services and related costs, is a fundamental tool for transparency. It is the best safeguard against misunderstandings, confusion, and unpleasant surprises: when the financial statements are presented, owners will never encounter unexpected charges, but only what has already been communicated and agreed upon.
Included Services and Activities
The administrator’s role encompasses a wide range of services, which can be divided into:
Ordinary Management (included in the base fee)
- Convening and recording ordinary meetings
- Drafting and sending the annual financial statement and budget
- Maintaining the condominium registry and mandatory records
- Managing payments and collections (condo fees, suppliers, taxes)
- Liaising with suppliers, technicians, and public authorities
- Reviewing and renewing maintenance contracts
- Periodic inspections and monitoring of the property’s condition
- Handling emergencies and minor maintenance interventions
- Safekeeping of condominium documentation
Extraordinary Services (subject to separate quotation and fee)
- Convening extraordinary meetings
- Managing major works (facades, roofs, systems, etc.)
- Safety coordination (Legislative Decree 81/2008)
- Drafting technical specifications and requesting quotes
- Technical and legal assistance in disputes
- Building, cadastral, landscape, and permit procedures
- Multilingual document drafting and translation (IT/DE/EN)
- Drafting or updating condominium regulations
- Mediation and conflict resolution among owners
- Support for tax deduction procedures and building bonuses
Optional Services upon Request
- Sending personalized communications (paper or digital)
- Online access to condominium documents
- Periodic reporting in multiple languages
- Property valuations and technical assessments
- Consulting for photovoltaic systems or energy efficiency upgrades
- Organizing informational or training meetings for owners
The Value of a Transparent Price List
Each item in the price list includes:
- Clear description of the service
- Frequency or delivery method
- Unit or flat-rate cost
- Indication of whether it is included in the base fee or subject to separate quotation
This approach allows each owner to know in advance:
- Which activities are planned
- Which costs are already covered
- Which services can be requested additionally
A Pact of Trust
Transparency is not just an obligation—it is a pact of trust
Auditing
Real estate auditing is the process of evaluating the financial, operational, and regulatory aspects of property-related activities to ensure accuracy, compliance, and performance.
What Is Real Estate Auditing?
Real estate auditing involves a systematic review of property transactions, financial records, and management practices. It can be conducted internally or by external auditors and serves to:
- Verify financial accuracy: Ensuring that income, expenses, and asset valuations are correctly recorded.
- Ensure regulatory compliance: Confirming adherence to tax laws, real estate regulations, and contractual obligations.
- Assess operational efficiency: Evaluating how property management processes (e.g., leasing, maintenance, rent collection) are performed.
- Support investment decisions: Providing reliable data for acquisitions, sales, or portfolio optimization.
Scope of Real Estate Auditing
Audits can vary depending on the type of property and the purpose. Common areas include:
1. Financial Audits
- Review of balance sheets, income statements, and cash flow
- Verification of rental income and operating expenses
- Asset valuation and depreciation tracking
2. Compliance Audits
- Checking adherence to local and national real estate laws
- Verifying licenses, permits, and zoning regulations
- Ensuring proper documentation for transactions and ownership
3. Operational Audits
- Evaluating property management practices
- Lease agreement reviews and rent collection procedures
- Maintenance schedules and vendor contracts
4. Due Diligence Audits
- Conducted before acquisitions or sales
- Includes technical inspections, legal checks, and risk assessments
- Often part of broader investment strategy or portfolio review
Tools and Best Practices
- Checklists and templates: Used to standardize audit procedures
- Transaction management software: Helps track document history and compliance
- Energy and building performance audits: Assess sustainability and efficiency
- Multilingual documentation: Essential for cross-border or international portfolios
Why It Matters
Real estate audits enhance transparency, reduce risk, and build trust among stakeholders—owners, investors, tenants, and regulators. For professionals like you, Gunnar, they also reinforce the administrator’s role as a guardian of integrity and foresight.