What is a primary function of a Management Company in leasehold properties?

The primary function of a Management Company in leasehold properties is to oversee management of communal areas. This involves ensuring that shared spaces—such as gardens, hallways, parking lots, and recreational facilities—are maintained to a satisfactory standard. The Management Company is responsible for the upkeep, cleaning, and general administration of these areas, which are crucial for the well-being and satisfaction of all residents within the development.

In this role, the Management Company deals with budget management for maintenance services, coordinates repairs, and organizes any necessary improvements to communal facilities. By effectively managing these areas, they help create a pleasant living environment and uphold the overall value and appeal of the property.

While other functions related to leasehold properties, such as facilitating subletting agreements or establishing rental obligations, also play significant roles in property management, they are usually not considered the primary duties of a Management Company. Engaging with landlords for lease negotiations is often outside the scope of typical management responsibilities, which are focused on maintaining the property and ensuring residents have a quality living experience.