Apart from Property and Asset Valuation, we also do Estate Management and offer Real Estate as well as Facilities Management. We further offer feasibility studies services to both individual and corporate clients.
Real Estate development is a form of investment in which profit making is the main objective. The return on Real Estate development like any other form of business entrepreneurship largely depends on the efficient management of the same. Professional Management of Real Estate is therefore the key to the investments over all success which is measurable by an enhanced rate of return and also by cost effective conservancy or maintenance of the same.
In view of this we have a wide experience in Property Management, Sales ,Letting and Valuation and our duties once we are given the assignment of managing/selling/letting your property(ies) shall include but not limited to the following:-
- Sales, Marketing and Letting
We shall at all times endeavour to fully let or sell, any of the properties that shall be assigned to us. We shall use all the following communication channels to advertise the available property or spaces including:-
- Placing a billboard on site having our company’s contact details.
- Using our existing database for applicants.
- Using the daily press and print media.
- Writing introductory letters to potential buyers/tenants.
- Placing the property on our website.
- Liaising with other real estate agents in search for credible buyers/tenants.
- Assessment / Review of Rent and Service Charge
a) As part of our management services we shall carry out as need arises, rental assessment of all houses/properties and advise the client accordingly.
b) We also carry out an assessment for all the required services and determine the service charge, which will be adequate to cover the cost of all outgoings including the cost of maintaining the property.
- Risk Management
We shall ensure that at all times the necessary measures and precautions are put in place to make the building safe as an investment and for the tenant’s occupation. We shall participate in the insurance valuation process and advice on the necessary covers such as insurance against fire, lightning, loss of rent, burglary, public liability etc.
Risk management also requires among other measures ensuring that the fire escape routes are accessible and well maintained; all the fire fighting equipments are in good working conditions, provision of adequate and quality security to all parts of the building, tenants’ education e.g. say by way of conducting regular fire drills, etc.
- Selection of Tenants/buyers
We shall vet all prospective tenants/buyers and select only the most suitable ones to avoid rental/payments defaults and minimize litigations.
- Collection of Rents and Service Charge
We shall ensure that rents and service charge are collected in time and shall account for them on monthly basis. In this respect we have a fully fledged accounts department, which uses the latest property management software programs to make raw property management data easier to process, analyse and access. The money collected shall be either deposited in our clients account or directly to the Landlord’s account or otherwise agreed. Where the property is for sale we shall follow up, sticking to the sale agreement, the buyer to pay all amount due for the sale price of the property.
We shall supervise all general maintenance and cleaning works to ensure high standards of maintenance. In this regard we shall if called upon negotiate and
advise the on the best terms for various contracts this may be necessary on the management of the property e.g. general maintenance, fire fighting facilities, cleaning services, landscaping etc.
7.Administration of Leases
We will administer leases to all the incoming tenants for a specific period of time say 6years for commercial properties and 1year for residential properties. The lease will indicate the duties and/or responsibilities of both the Landlord and the Tenant. We will ensure that the leases are renewed on time to avoid tenants falling into controlled tenancy. In renewing the leases we will ensure that the landlord’s interest is taken care of to avoid adverse clauses. This will be done in conjunction with the landlord’s lawyers.
- Tenants’ Complaints
We shall promptly attend to tenants’ complaints relating to the property, as it is essential to maintain good Landlord and Tenants’ relations. In this regard, we shall maintain an open door policy. Our experience is that majority of the tenants opt to move out of a building where their complaints are not attended to.
- Statutory outgoings
On behalf of our client (landlord) and with his approval, we shall pay the rent/service charge proceeds and the following outgoings when they fall due;
- Local authority rates
- Land rents
- Any other taxes or levies that might be imposed from time to time
- We shall make regular inspections of any property and quarterly or within the agreed period submit reports with any necessary recommendations on improvement of such property when deemed necessary.
- In addition we shall have monthly/quarterly briefs, which will be incorporated in the rent statement. The brief reports on any changing factors in the period ending e.g. tenancy, rent escalation, expenses e.t.c. and it is meant to keep the client closely informed on all our management activities.
- We shall regularly assess the current market rent trends and advise accordingly.
In order for the client to be able to monitor the performance of the property to be assigned to us, we shall prepare a comprehensive annual (or as requested by the client) budget showing all the income receivable against expenditures.
- Building Infrastructures
Our experience shows that buildings which have ready internet connection tend to attract high demand given the global technological changes in communication, we shall therefore request the client to make any of the property to be assigned to us internet ready should that proof necessary. Where necessary we can negotiate with ISP companies to supply services to the building at competitive rates for the occupant’s benefits.