Why SIM charges property management fees on parking / garages spaces

Sim Property manages a lot of parking and garage spaces. In many cases new build apartments are bought with a garage space, sometimes these garages are rented with the apartment and sometimes separately.

It can often be assumed that these garage spaces don’t require much property management work, which is unfortunately not the case. Its worth considering some of the following points:

• Tenants can lose the keys
• Rent payments need to be tracked
• Chase tenants for late rent payments
• There can be fire, floods or other damage (inc theft) in the garage area
• The building management might change the key system
• Communication with the building management committee about issues in the garage area
• Bills (eg service charges) need to be paid related to the garage
• We need to account for each payment and ensure taxes are properly filed
• What if someone else parks in the tenant’s space