Acerca of
MANAGEMENT
In real estate management, there are several specialties that require knowledge
and special skills.
Mr. Vandernoot
BUILDING MANAGEMENT FOR SEASONAL RENTAL
An owner who offers his villa (or apartment) for seasonal rental appoints a real estate agent to manage the property.
The agent ensures that the owner's assets are maintained and provides property management services; the mandated real estate agent has quotes drawn up for repairs or maintenance work, he makes contracts, he pays the service providers working in the villa.
He is also involved in the rental process with the specificities imposed by seasonal rental and the tourist clientele of Saint-Barthélemy.
He represents the owner vis-à-vis other real estate agencies mandated for the rental, he updates and distributes the occupancy schedule, he has the villa prepared for each tenant's arrival, he inspects and controls the equipment, he ensures the regulations rents, he has the necessary repairs carried out quickly.
Periodically, your real estate agent will draw up a report showing expenses and income, in accordance with the management mandate entrusted to him.
In addition, the agent mandated for the management can also intervene within the framework of a rental mandate.
The fees are freely negotiated with the owner.
BUILDING MANAGEMENT IN LONG TERM RENTAL
When the property (villa, apartment, commercial or professional premises) is offered for long-term rental, the property management services are generally provided by the real estate agent who has signed an exclusive mandate with the owner combining rental and management. see Long Term Rental (link).
The real estate agent will manage the building as a "good father" in order to preserve the owner's assets and ensure the tenant enjoyment of the property.
He can collect funds, collect deposits, pay the amount of rent to the owner. He has quotes drawn up for repairs or maintenance work, he makes contracts, he pays service providers.
Periodically, the real estate agent sends a management report, showing expenses and income.
It also happens that the property is a second home that is not offered for rent.
The fees are freely negotiated with the owner.
THE CO-OWNERSHIP MANAGER
The Syndic organizes the life of the co-ownership of a building by proposing an annual budget for the operation, repair and improvement of a building in co-ownership.
Endowed with skills that can be very extensive, he will be called upon to collect funds, make contracts, pay stakeholders, hire employees, take legal action, take any emergency measures to safeguard the building (in particular after a cyclone).
He will have to report annually on the use of the funds given to him, as well as on the proper application of the decisions taken at the general meeting for the maintenance of the building.
For this, he will have to respect very demanding regulations by providing accounts that can be certified by a chartered accountant.
He will be required to respect public order deadlines to convene and inform the co-owners at least once a year in order to present to them the results of his past management.
Its annual management will be validated by a vote at the general meeting giving it discharge.
Only a real estate agent holding a Syndic de Copropriété card can be a professional syndic. The Trustee is appointed by vote, for a fixed maximum term of 3 years, by all the co-owners meeting in a General Assembly, or by the Judge in the event of difficulty.
Its services are generally remunerated according to the number of lots, the building and the amount of work carried out.
In terms of property management, there are several specialties that require specific knowledge and know-how. In Saint-Barthélemy, it is mainly about the management of villas for seasonal rental, the management of buildings offered for long-term rental, and the syndic of co-ownership.
THE REGULATORY ASPECT
To carry out property management or trustee activities, the professional must be a real estate agent holding the property management card (card bearing the words "Property management" or "Condominium trustee") issued by the Chamber of Commerce and territorial industry or by the Prefecture of Saint-Barthélemy and Saint-Martin for cards issued before July 2015.
To obtain the professional card, he must provide proof of professional aptitude (diploma or experience in an agency), the equivalences of which are fixed by ministerial decree. This card allows the real estate agent to handle and collect funds, to proceed with the payment of service providers, to the implementation, to collect the deposits and to pay the rents to the owners.
The real estate agent must also have a financial guarantee ensuring the funds held (or handled) on behalf of third parties (tenant / lessor). The guaranteed amounts depend on the actual level of activity (at least 110,000 euros per activity carried out except for the first two years of exercise when it is set at a minimum of 30,000 €), which is also periodically checked by the organisation.
Finally, he must benefit from Professional Civil Liability (RCP) insurance against the financial consequences for which he could be held responsible.
This information must be displayed in the agency.
Note:The term "villa management" is commonly used in Saint-Barthélemy and can relate to very different services depending on the case, ranging from maintenance to stewardship or financial management. It is important to check that these activities do not come under the regulated profession of real estate agent, whether you are the professional or the owner. In the first case, the illegal exercise of the activity of real estate agent is punished by 6 months to 2 years of imprisonment and a fine of 7,500 to 30,000 euros (articles 14 to 18 of the law of January 2, 1970 ). Moreover, in the second case, the owner will not benefit from the financial guarantees permitted by law or from the service provider's civil liability insurance.