The office provides the property management service that we do for the benefit of our customers, as it is a business that is closely related to the legal work, since whoever manages any of the properties must be sufficiently and even thoroughly aware of everything related to the legal aspects of the thing to be managed, especially in light of the complexity of the various legislations. .
Managing property in the modern era is not the same as it is known in the past, as in the past it was only linked to real estate, but with the great economic abundance that occurred in the nineteenth century, the word property management includes many sectors in addition to the real estate sector, such as following the process of offering shares in The stock exchange for sale and all the necessary legal procedures with securities brokerage companies and their follow-up for the benefit of clients, the process of following up and collecting profits for the shares of clients in some companies and familiarity with the form and the legal system of these companies to reach the maximum degree of preserving the rights of clients.
And since the property management was so important, we have dedicated a team of our highest level of efficiency, honesty and seriousness to their task to research how to manage and maintain customer properties.
- A brief historical and objective overview of the idea of property management:
Many people think that property management is only collecting rents, but this belief is wrong today. In order to learn more about the profession of property management, we must know the history and origin of this profession. In the past, the need for it was not urgent, as anyone could manage his property by himself, and with the advent of the industrial and urban revolution, property management was limited to commercial towers, hotels and large companies. Where at the beginning of the nineteenth century AD, many debts accumulated on the owners as they borrowed huge sums to build and invest their real estate, so their management was transferred to banks and financing companies, which led them to search for owners of expertise in property management and to appoint employees specialized in this profession.
The First Type:
Property management by “Proxy”, which is a company or specialized real estate offices with whom a specific percentage of real estate income is agreed.
The Second Type:
“Internal management” is often in large companies that own many real estate and prefer to manage them themselves by appointing employees and property managers affiliated with the company.
The Third Type:
The “Owner Manager”, as most owners prefer to manage their properties themselves, and this is good for those who own few properties that can be controlled.
Among the qualities required in the property manager is honesty, honesty and gentleness of manners, and that he is familiar with real estate affairs, regulations and laws, in order to ensure that they are not overridden. A strategy that facilitates his performance of his mission in addition to his knowledge of accounting principles and the preparation of letters and to be always smiling quiet nerves and these characteristics are always taken into account when choosing and employing the property manager.
Whereas, the real estate must be studied in all its aspects, whether it is constructional, legal or economic, then studying and analyzing the real estate in terms of the location and the surrounding area and analyzing the real estate itself in terms of areas, quality and features and analyzing the requirements and goals of the owner and whether they are compatible with the current market conditions and then comes to provide a budget Includes the expected expenses and revenues of the property through an agreed business plan.
Among the responsibilities of the property manager is to continue renting the property at the highest possible return, trying not to keep the property vacant, and renting on good quality and chosen from the tenants. As well as collecting rents on time, paying fees, dues and obligations on these properties, and trying as much as possible to reduce these fees without reducing the level of services. General maintenance of the property must be taken into account, including periodic and preventive maintenance (according to the percentage given). Among the tasks are also to communicate with the tenants and to be a POC between them and the owner.