Top Property & Lifestyle Management Companies

How to choose a property and lifestyle management firm

Trust is the main criterion. Ask how the firm screens its own staff and the household staff it places, how it handles keys, alarm codes and confidential information, and whether it signs non-disclosure agreements.

Ask for a sample monthly report covering maintenance, spending and open issues, and how vendor invoices are approved. Confirm insurance, any bonding of staff, and who answers emergencies at night. Check references from owners with similar homes.

Red flags include markups on vendor invoices that are not disclosed, a single person carrying too many households, unclear spending limits and resistance to audits of household accounts.

How property and lifestyle management is priced

Firms usually charge a monthly management fee, which may be fixed or tied to property size and the number of residences. Household staff are paid separately, either directly by the owner or through the firm, and placement fees may apply for recruiting.

Cost depends on the number and size of properties, how often the owner is in residence, service levels such as round-the-clock response, the number of staff managed, and how much concierge work is expected. Owners should ask whether vendor costs are passed through at cost or marked up, and what triggers extra charges.