Using A Property Manager to Maximize Property Investments

Property management companies are available to take the hassles out of home ownership. Most property management companies charge a monthly fee to cover general maintenance, security and upkeep costs. These companies are a highly fragmented group, particularly in the residential market, as they provide a high degree of service to a broad array of customers. Their commercial property counterparts tend to have more dominance of their market (and greater income volatility), and are beginning to move into the international arena through mergers and acquisitions.

Property management companies come under the purview of the Companies Act under which they are constituted. This implies that these companies have to comply with the provisions of company law. These companies have the ability to handle various legal matters that a property might face. While property management companies specialize in managing and handling various property related issues, it is true also that many of them are rather small and basic in nature. Some of them may also be in a time warp and may not have woken up to the benefits of modern technology like e-mail.

One of the important services that property management companies offer relate to client interface. This includes marketing properties and screening the response they get in order to short list suitable residents. Apart from the maintenance and upkeep of property they also ensure that agreements are signed properly and renewed in a timely and lawful manner. The company has in-house staff and supports its executives in a collaborative manner. The main aim of such a company is to ensure that the project is made commercially viable and its value is enhanced too. The company has certain limits that are imposed in the form of building codes, commercial business practices and also affirmative action provisions.

Residential property management companies thus aid in saving considerable costs necessary to cover the court fees involved in evicting a problem tenant. Residents want to know more than the information included in typical real estate listings, which usually are nothing more than a sea of abbreviations (for example: w/d, hw fl, d/w, a/c). Potential residents want to know about the character of the building, see detailed floor plans, and information about the unit’s location.

When it comes to taking fees to let out property on behalf of the landlord, the property management company has to be associated with a licensed Real Estate Agent. But if the company just takes a cut from the monthly rent, this provision will not be applicable. Property managers have to look at various aspects of interior and exterior of buildings, electrical fittings and systems too. A wide variety of buildings, commercial complexes, houses, apartments and also villas come under the purview of property management companies.

Basic accounting services can also be provided. Most full service property management companies will offer as a customary service some type of accounting procedure. This usually comes in the form of a monthly paper statement itemizing all income and expenses funneled through the management company on your property for that particular month.

Ateeya Manzoor is a Managing Director of Mayfair Management Group. She is a skilled strategic and risk manager and has worked on projects in the technology, legal, hospitality, property development, engineering, oil and gas and professional development industries.

Through her keen eye, Ateeya’s core gift is to convert and fully realize potential. She has a unique ability to see things when others may not. Her talent is to anchor in businesses requiring structure or a fresh perspective. Clients value her vision and unrelenting commitment to delivering tangible results.
For more details, please visit here: http://ateeyamanzoor.blogspot.com

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Raising Awareness of Your Business When Fundraising for Charity

We all like to do our bit for society whenever we can. But it isn’t always easy to know what to do for the best, especially from a business point of view. Luckily there are ways in which corporate fundraising can benefit the business as well as the charity that is chosen. You just have to understand the process so you can make as big a success of any fundraising event you choose.

 

Many businesses choose a particular charity to support for the long term. This may be a popular and familiar charity to many, or it may be a charity that is close to the business in some way. Whatever it may be, it can benefit from all the charity fundraising events that the company chooses to create.

 

This is where the benefits for the business come in as well. For starters it is a great way for everyone to get involved and have some fun outside of business hours. For example if you decide to organise a large BBQ and fun day for the staff, everyone can enjoy some downtime and getting to know each other outside of work. There are plenty of ways that people can get involved and enjoy helping in the organisation as well, so you can see how useful it can be with regard to teamwork.

 

Another bonus is the publicity that the business can enjoy. This will of course be a very positive thing, and news of the charity fundraising events may appear in many places. Local newspapers, news channels and other magazines and websites relevant to the nature of the business may all pick up on the story. It just goes to show how corporate fundraising can raise awareness in lots of different ways, instead of just raising cash.

 

This form of fundraising can also be a good way to give everyone in the business something else to bring them together. Regular events and ideas can be planned throughout the year, and everyone can have a say in what happens and what methods can be used to raise money for the chosen charity. Some businesses opt to change charities every year, while others stick with the same one the whole time. It is up to you what approach you take for your own business, but whatever it might be you can be sure you will appreciate the need to do your bit for charity.

 

It is also plain to see that everyone benefits from such an arrangement. The charity benefits from the donations; the employees benefit from getting together and enjoying the process; and the business benefits too. Publicity like this is never a bad thing, and the charity makes headlines as well. It’s a win-win situation.

 

Ateeya Manzoor is the Managing Director of Mayfair Management Group.

Ateeya has a commitment to realizing potential with her philanthropic work. Through numerous charitable causes, talks, writings and mentorship, she is committed showing those who struggle that there is always a way to ascend. She is currently working on her first book.

To read more, please visit here: http://ateeyamanzoorpost.simplesite.com

Tips by Ateeya Manzoor to Build Better Business Structure

Once you’ve completed all the hard work from business startup through to the point where you start building a team, or you have an established team after several years in business, structure becomes very important.

The right structure will help you grow the business further, manage a growing team more effectively, and enable you as the CEO to become less operational and more strategic.

The following are the considerations suggested by Ateeya Manzoor when building a more solid structure for your business:

  1. Role of the CEO/Owner of the company

This sounds obvious, but when you’re in the thick of day to day operations and trying to keep everything running and on track, few business owners stop and assess their own role.

When you start building a team or you have an established team, your own role has to change as you bring in more people. You need to become the CEO rather than fill the role that many do of general manager involved in everything.

You need to shift your focus to more strategic matters like funding for expansion, assessment of growth opportunities, and building a strong team that can gradually take over your operational role.

Don’t make the mistake of trying to build a team without shifting your own role to how you can best add real value to your company.

When you get to point 3, it will be clear if you need to change your own role.

  1. Legal Ownership

Just assuming that you have a limited liability legal entity for your business structure, and have the right legal and financial structure in place to protect your business and personal assets

The other form of legal ownership is equity, usually when the owner of the company wants to ‘lock in’ good employees or reward those who perform well.

Once you give employee equity in your company, you set a precedent for others to follow. How much share of your business are you prepared to give others; on what basis will they earn it or buy in; what structure will you set up for shareholder voting rights; do all equity holders have the same weighted shareholding, and so on.

And finally, what happens when you have a falling out with one of those employees, and you can’t shake them off because they are an equity holder in your business. It happens.

You may consider two other options: reward good performance with a bonus system or bonus incentives. The other option to reward those who have contributed to the growth and success of your business by offering to sell your company to them when you’re ready to walk away

And remember, not everyone wants to have equity in your business, and too many people don’t understand that equity comes with responsibilities and legal duties. Think twice about this strategy.

  1. Your Organisation Chart

Often people don’t bother with this as it’s ‘too formal’ or ‘too structured’, but an organisation chart is a test of how well you’ve set up the structure of your business.

If you draw up your map of the organisation and you have boxes/roles with gaps and no-one to fill them, or you have others (usually the business owner) in more than one box, then your structure is not set up for future growth.

The key people, who report directly to the CEO or business owner, need to be able to take responsibility for their area, without having to defer to the CEO on the majority of decisions or problems.

If you have the team in place and you find they still have to go to you for advice on a regular basis, you need to factor in some more experienced and capable people into your structure.

Ateeya Manzoor is a Skilled Strategic and Risk Manager associated with Mayfair Management Group with over 20 years of experience. Through her 20+ year career spanning Bay Street and Main Street, she has worked on projects in the technology, legal, hospitality, property development, engineering, oil and gas and professional development industries.

Her talent is to anchor in businesses requiring structure or a fresh perspective. Clients value her vision and unrelenting commitment to delivering tangible results.

For more details, please visit here: http://ateeyamanzoorpost.simplesite.com