How to Fix an Under Performing Property Investment

 

A very common question asked by most landlords; “What benefit would I get when I let you manage my property?” In other words “why would I cut my net profit by paying management fees?” As a matter of fact, having a proper property management company taking care of your asset, realistically increases your profit! Let me explain to you how. First, let’s agree that property investment can be a lucrative financial move.You just need to find a great tenant, sit back, relax and collect rent… simple, right? Actually, ensuring continual profit from your property requires another priceless investment… time!

Leasing a property can be a full time job; from marketing, finding tenants, preparing contracts, adapting to legalities, staying updated with rules & regulations and much more…just to get your renters in the door! Next, you’ll have to tackle insurance, record keeping, rent collection, PDC banking, renewals notices and the list goes on! All of the above, is a Utopic assumption that your tenant is living in a miraculous apartment that did not require a single services request. Going back to reality, you’ll have to deal with all types of maintenance challenges and resolve them on the spot!

So how to overcome such a hassle?

Simply, by trusting The founding root of fäm’s Vision & Mission where it has and will always be “to redefine what investors in the UAE expect of Real Estate agents; by treating our clients with uncompromising integrity and the market with unanticipated innovation”. Our services are endless, starting from the early stages of you buying an off-plan property where we technically take it over on your behalf from the developer; up to advising and finding you the most lucrative exist strategy. Here, I’m going to take an example of an already tenanted property and what benefits will fäm Property Management add to it and its landlord.

The answer revolves around three simple points: Asset Preservation – Tenant’s Satisfaction – Landlord’s Peace of Mind

Asset Preservation:

From the moment fäm will step in; scheduled preventative maintenance will be implemented and assigned to pre-qualified and approved vendors whom are available 24/7 to handle any type of service request. The result is:

  • Preserving the property as a healthy asset
  • Minimizing running costs resulting in higher income
  • Elimination of ad hoc responsiveness

Tenant’s Satisfaction:

Not only tenants prefer managed properties; but also we are providing them with a state of the art Oracle Mobile Application…fäm Fix-It. Available on iOS and Android, the fäm Fix-It App allows our tenants to record any maintenance issue and get it serviced in the most efficient technically driven way; in a few seconds at the palm of their hands. The result is:

  • Prompt maintenance reporting
  • Instant 24/7 correspondence
  • Professional efficient services rectification
  • Highly organized maintenance record that is photographically supported
  • Satisfied & retained tenant
  • Repeated highly referrals

Landlord’s Peace of Mind:

The core of fäm business model is Enterprise Resource Planning; where our Oracle platform CRM is in-house & tailored to our customers to provide them with efficiency, security and transparency. As an investor, you are constantly able to leverage on personalized customers’ reports with real-time access. The result is:

  • Transparent relationship between all parties
  • Elimination of repetitive & manual processes
  • Avoidance of typical human errors resulting in hurting the investment financials
  • Security of your sensitive personal data
  • Tailored reports with real-time access whenever and wherever you are

The above is the impact of a credible Property Management organization like fäm Properties directly affecting your property. The advantages are endless, one of them is your time! Having proved that now you are saving more of it, you will end up utilizing it in focusing more on your actual business to generate more profit. Don’t forget, you’re an investor and not a full time landlord!

 



  •  Mahesh   

    (0) (0)
    Nice Article

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