INVESTMENTS
THE ADVANTAGES OF OUTSOURCING
IN REAL-ESTATE MANAGEMENT Effective property management is very important especially in the case of commercial real-estates, as they serve not as much as capital investments, but their purpose is to generate profits. While in the case of single offices, ware houses or apartments some investors deal with that on their own – although also here professional knowledge and experience come in hand, the manage ment of larger objects, such as high-rise buildings, tenement houses, commer cial real-estates (shopping malls) or even the entire property portfolios by a single person can be difficult, to say the least. In such circumstances, a much better solution is to entrust the management of office, residential or commercial spaces to professionals, whose scope of duties include among others: • Real-estate administration – ensuring regular cleaning services and technical
58
•
•
•
•
upkeep of the building or of the prem ises, supervision over maintenance, overhaul and modernisation works; Tenants – related services – establishing long-term relations and on-going services, registry-keeping, rent collection, holding of residents’ meetings; Optimisation of costs – negotiating contracts with suppliers of utilities and modernisations of buildings; Real-estates’ marketing – the development of a positive image of an object in order to attract new tenants and customers; Managing of documentation – the extending of contracts with tenants
and suppliers of utilities, archiving of contracts, handling the correspondence; • I nte r n a l co nt ro l – re p o r t i n g, accomplishing audits and verifica tion of budget plans; monitoring of the accounting.
WHY IS IT WORTH THE WHILE TO USE OUTSOURCING IN REAL-ESTATES’ MANAGEMENT? The main advantage of outsourcing in real-estates’ management is the opportunity for the investor to actually obtain the expected revenues. Thanks to an extensive network of contacts and a long-term experience, the managers
Outsourcing&More | March–April 2020
