- June 30th, 2008
- in Yachting
The increasing number of BVI Vacation Rentals , condominiums and villas being built in Virgin Gorda and The British Virgin Islands has helped fuel the demand for a critical job function: property management.
In simple terms, a property manager oversees the overall operation and maintenance of a home, rental villa or condominium. This can include ensuring that the physical aspects of a given property are looked after, including pool maintenance, general repairs, pest control and housekeeping services to name but a few tasks. If the property is a rental, the property manager’s duties can also include providing sales and marketing services, along with concierge services for villa guests.
In general, a property manager ensures the welfare of the property as well as that of the property owner. He or she also ensures that property and house taxes are paid, as well as hotel accommodation taxes in the event that the house, villa or condominium is a rental unit. The property manager may also function as a liaison between governmental agencies and other local businesses and service/product providers. He or she ensures that the property owner is kept abreast of the current business climate and any changes in laws that may affect the homeowner and/or his or her property.
As a property manager, it is essential that there is a clear understanding of business operations in The British Virgin Islands and an appreciation of BVI culture. Too often, expatriate property owners are not fully aware that they have violated local laws or breached local values and mores. Having been involved in the hospitality industry for over 30 years, I possess a keen understanding of the tourism environment in the BVI and an awareness of what is required if a property owner wishes to enter the vacation villa market.
A major consideration after investing in property in the BVI should be the search for a property manager who is dedicated to treating each property individually and assigning each a prime level of importance—particularly important if he or she is managing multiple properties. A man’s home is his castle, whether it is his second residence, a vacation villa or his lifelong dream home, and the property manager is tasked with protecting the owner’s vision, dream or source of investment income. Most importantly, a top-notch property manager or property management company recognizes that the main mission of property management is to provide our customer, the homeowner, with security and peace of mind.