Property management, in its general terms, involves setting up an appropriate system within which to oversee property holdings to achieve the agreed short- and long-term objectives of the investor and particularly to have regard to the purpose to which the investment was made. The key aspects of property management are, therefore, an ‘appropriate management system’ and achieving the expectations of the investor and stakeholders. Real estate investment is a high-capital outlay and a complex venture and its management is necessary to achieve the intended financial returns.
The directors, the key personnel and generally the staff of M-VAL have had distinguished careers in property management, managing some of the most prestigious commercial and residential properties in the country. This has enabled them to develop robust property management systems that have been improved and adopted by M-VAL. Coupled with their advanced academic and professional training and thorough understanding of the real estate investment world, M-VAL offers a highly specialized property management service within this side of the country.
The key aspects of our property management services include the following: –
- Promotion and marketing of vacant spaces for letting, assessment of rents, vetting of applicants and liaising with the landlord to select the most suitable tenants;
- Lease administration with strong emphasis on signing and compliance of lease terms and renewal of expiring leases. This in cognizance of the various existing laws especially the ones protecting tenants like The Landlord and Tenants Act (Hotels, restaurants and catering establishments Act) Cap 301 and The Rent Restriction Act cap 296 ;
- Fostering a good client relationship management, bearing in mind that the various customers have varying objectives and expectations from the property;
- Rent collection processes incorporating rent reviews;
- Repairs and maintenance of the building fabrics and plant and equipment;
- Management of Services and the service charge account involving budgeting (with liaison with the landlord and tenants), collection of the service charge, tendering and selecting service providers (subject to approval by the landlord), supervision of the works and accounting for the service charge;
- Reporting to the landlord and tenants through monthly statements and remittances, quarterly management reports, quarterly performance reports, annual budgets and many more.
Landlords at M-VAL enjoy a wide variety of value additions. These include;
- Market rental assessment to determine the market conditions in which their property is situated. This includes rental rates, competitor analysis among others;
- Rent guarantee schemes especially for middle income residential properties where the landlord is assured of the rental remittance by a particular agreed date whether collected or not;
- Access to market information and our regular market research papers;
- Well structured reports and presentations tailor made to fit the needs f each client be it the complexity of a financial institution /investment banker to the simplicity of an individual;
We have invested a lot with a tailor-made Property Management software that is online and cloud based. This means we can issue reports, give receipts or send out communication to our landlords and tenants from anywhere on the globe. The software is able to monitor almost all the aspects of property management and give timely and accurate information and reports.
The catalogue below shows the properties handled by M-VAL property management department;
Download our catalogue by clicking here.