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

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

 

Importance of Management in Hotel Hospitality Business by Ateeya Manzoor

Hospitality industry has seen a great rise in the last few decades. The demand in the hospitality and recreational activities are attracting a lot of consumer. Such a high demand and consumption requires a well managed system which can provide the consumers a satisfying experience. Hospitality and hotel industry has always been a service industry and hence the emphasis is given to quality of services to the visitors and guests to the hotels. Therefore, hotels require a good management like any other business to service its customers with quality hospitality services.

There are constant changes in the hotel hospitality management system. Many hotel managements are taking help from hospitality consultants to boost their revenue and streamlining of their services. Being the expert and professionals in the hospitality and hotel industry Ateeya Manzoor believes that the hotel consultants helps and assist the hotel management in strategy, planning and handling of important departments which serves and ensures better revenue from the business.

In any business, fluctuations and improvements could be risky if not treated judiciously. This constant risk which looms over any business, hospitality or hotel business too isn’t safe. It also requires careful and a guiding force behind success. The hospitality consultants provide an incredible amount of belief and appeal to the business and improve the profitability curve.

It is natural and observed fact that a good management is really the backbone of any business. Realizing this fact even the small hotel owners in the hospitality industry are spending on a better management system in their hotels. It does require skills and professionalism to handle the business activities of a hotel hospitality management. Hence, the demand for services of Hospitality Consultancy Firms have risen over the past few years as the consumers across the world are now capable of reaching out to the best possible services.

Thanks to the internet which has allowed the consumers to plan their travel and tour to different destinations without hiccups. Accommodation being one of the major ingredients of any traveling package requires better quality for the guests or visitors or travelers. In order to attract and serve more and more customers in better ways, a lot of hotel management systems have implemented electronic booking and reservation facilities which helps not just consumers to easily reserve their room in a hotel but also it helps the hotel management to acquire a better pie in terms of accommodation. There is no secret that accommodation is one of the departments in a hotel which generates highest revenue.

The hospitality consultant assists the hotel hospitality management in securing a better quality of services in their hotel while managing the assets, looking at the accounts and other important activities of the business.

Ateeya Manzoor is the Managing Director of Mayfair Management Group and a Skilled Strategic and Risk Manager with over 20 years of experience, 12 of which have been at the executive level. Through her 20+ year career spanning Bay Street and Main Street, she has worked on projects in the hospitality, technology, legal, property development, engineering, oil and gas and professional development industries.

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Evaluating Your Business Marketing Strategy: Ateeya Manzoor

Are you among the small businesses and professionals who find that they just do not achieve the intended goals or they cannot complete their marketing plans? Marketing plans can fall short for a number of reasons. One common reason for this failure is the business marketing strategy and not the action plans.

There are five measures of a business marketing strategy that must be present if your marketing plan and your tactics are to succeed.

  1. Shared goals with business strategy. It is absolutely necessary that you align your business marketing strategy with your business strategy. The marketing strategy needs to emanate from the business strategy. For example, if your plan is to grow your legal practice by promoting a focus on estate planning, it does not make a great deal of sense to advertise a focus on legal defense for juvenile delinquents.

  1. Respect the budget. The budget sets the limits for your business marketing strategy. No matter what audience you need to reach or what product or service you are marketing, budgets define reality. You must keep things in perspective within those limits if you expect to meet your marketing objectives.

  1. Comprehensive. Your business marketing strategy should outline all of your marketing goals, as well as the tactics you will use to accomplish them. It needs to encompass all of your marketing activities – traditional, internet, mobile, point of sale, etc. But it also needs to allow just enough flexibility to permit you to make some changes in order to take advantage of an unanticipated opportunity with a very high chance of success.

  1. A sense of perspective. It is unlikely that you will be marketing a single product or service to a single, specific audience. A successful business marketing strategy will keep all tactics and campaigns in perspective to maintain a focus on marketing objectives.

  1. Audience Determined. Ateeya Manzoor says that a good business marketing strategy will reflect significant research into the desires, needs and preferences of your target market. It will, then, use the tactics most likely to reach that audience where they can most commonly be found. It will reflect your understanding of the message they need to hear and the communication medium they prefer.

If your business marketing strategy can pass these five tests, you will be well on your way to crafting a winning marketing strategy that will achieve your goals and grow your business in the strategic direction you want the business to go.

Ms. Ateeya Manzoor is a managing director and management strategist and partner at Mayfair Management Group.

As a professional with over fifteen years of experience, Ateeya Manzoor has worked with a large range of clients in various industries and sizes, ranging from large publicly traded financial institutions and technology firms, large resorts to midsized oil and gas companies, to small non-profits requiring a fresh perspective.

To read more, please visit here: http://ateeyamanzoor.blogspot.com

Activity and Output from Business Perspective by Ateeya Manzoor

The word ‘activity’ will be used in this textbook as a general description to cover any physical operation that takes place in an enterprise. In a business providing bus transport for schoolchildren the activities will include driving the bus, cleaning the bus, making telephone calls to check routes and times, and ensuring that the administrative requirements, such as insurance and licenses, are in place.

In an NGO department providing assistance to elderly persons, the activities will include sending out home helps, paying the home helps, telephoning the clients to arrange visits and checking that spending is within the budget allowed.

In a product manufacturing business providing floor-cleaning machines the activities will include ordering parts, assembling parts, delivering the finished products to shops for sale, taking in returns for repair under warranty, paying employees and checking on the quality of the goods produced. These are all activities and they all cause costs to be incurred. The activities causing costs is central too much of the partition of costs and the collection of costs relating to a specific activity.

You can sometime find the phrase ‘activity-based costing’ has been created to recognize that management accounting is most effective when it links costs to the activities of the business.

Activities have to be measured. For the soft drink manufacturer the measure of activity is the number of cartons of soft drink sold. For the retail store it could be the number of items of garments sold, or it could be the value of clothing sold. Selling a large number of small-value items causes higher staffing costs than does selling a small number of high-value items. For the road haulage business the measure of activity could be the hours worked by drivers or the number of miles driven. Hours worked take no account of whether the drivers are on the road or waiting at the depot. Distance of miles traveled is a better measure of productive activity but do not distinguish full loads from empty trucks. Fuel costs are higher for a full load than for an empty truck.

Activity might be measured using a combined unit of kilogram-miles. Throughout the following chapters the word ‘activity’ will be used and measures of activity will be described. You will be expected to demonstrate your analytical skills in thinking about the meaning of the word and the relevance of the measure of activity to cost classification and cost behavior.

Output is a particular kind of activity. It is the product or service provided by the enterprise or by one of its internal sections. The output of a soft drink manufacturer is soft drinks; the output of a retail store is the clothing that it sells. Outputs are directly proportional to the activities. If we get some activities done, there must be some output. However, there are standard ratio between activity and output. If the ratio is not correct, the business will lead to a loss.

Ms. Ateeya Manzoor is a manageing director and management strategist and partner at Mayfair Management Group.

As a professional with over fifteen years of experience, Ateeya Manzoor has worked with a large range of clients in various industries and sizes, ranging from large publicly traded financial institutions and technology firms, large resorts to midsized oil and gas companies, to small non-profits requiring a fresh perspective.

To read more, please click here!

Cutting Business Costs Utilizing Remote Technologies – Ateeya Manzoor

There isn’t too much that businesses won’t do today to ensure that they keep their head above water during these troubled economic times. Traditionally businesses look for ways to trim the fat all the time, even in the best of economic times and while in years past layoffs and cutbacks were the first thing that companies looked at, one of the first things that companies look at these days is cutting the costs of the technology that they use. This is no easy task mind you as businesses often run into snags when they realize that the majority of technology they use is essential and can’t be eliminated. This is especially true of communication, storage, and networking technologies.

What many computer support and technology firms have started offering in light of these difficult times are services that don’t eliminate technology but instead provide businesses with an alternative to the technology that they’re currently using. Additionally many of these services employ state-of-the-art or the latest and greatest versions of the technologies businesses find most useful and necessary. Moreover these technologies and services are available at a fraction of the price that upgrades to a business’s current technology are available at. A really good example of an alternative and money-saving service is hosted exchange services.

Hosted exchange services allow a company to remove in-house servers and place data storage responsibility as well as interoffice communication responsibilities on a company that’s built specifically to handle those things. These types of services are designed not just to save businesses money by time, but the headaches associated with managing and paying someone to manage all that technology in-house. Not only does removing these things from the office save money and time but all of the problems associated with those technologies too. When there are problems with the technology it will no longer cost a business anything to fix them.

Smart businesses and business owners will immediately recognize the value of services like hosted exchange and adapt them or integrate them into their business model in order to trim their budget and stay afloat. The majority of cloud type services are extremely affordable and should never be overlooked by any business large or small.

So next time you are thinking about trimming the fat or cutting the budget for your business remember the services that are important and help your business function better, help you make money and offer cheaper alternatives.

Ateeya Manzoor is the Managing Director of Mayfair Management Group.

As a professional with over fifteen years of experience, Ateeya Manzoor has worked with a large range of clients in various industries and sizes, ranging from large publicly traded financial institutions and technology firms, large resorts and entertainment venues, to mid sized oil and gas companies, mid sized medical and quasi medical coaching practices, to small non-profits requiring a fresh perspective.

To read more, please visit here: http://ateeyamanzoor.blogspot.com

Risk Management for Financial Agreements by Ateeya Manzoor

Risk is often a source of confusion and concern for both individuals and businesses. The word itself can be misunderstood because of disagreements about what constitutes a risky activity. Because risk can have so many different interpretations, strategies for reducing or managing risk can prove unsuccessful merely because the risk management goal is not adequately described. But this difficulty does not mean that risk management should be ignored. Instead it should serve as a caution signal that a bumpy road is on the horizon when dealing with risks of any kind.

How do financial agreements fit into a risk management conversation?

When companies talk about the risks they are exposed to, it is usually in the context of unknown events such as the economy and political outcomes. It seems unlikely that a manager would point to her commercial mortgage financing agreement when asked to identify the top ten business risks faced by her company. Nevertheless financial agreements like this do provide a unique risk exposure that is often overlooked until it is too late to avoid a serious problem.

Small businesses frequently experience different risks than those at larger companies. The lack of personnel is a common factor contributing to this. While a large company might have someone (or several people) whose full-time job is to handle risk management, a smaller company is more likely to have its business owner attempting to keep risks under control whenever possible. Ateeya Manzoor says that when managing risk is just one of several dozen important responsibilities, risk management is by default handled much differently than when it is a full-time job.

Within this hectic managerial environment for a small business owner, now try to imagine how familiar they are with the terms of their financial agreements. Some of these could involve contracts like the following examples:

  • Credit Card Processing
  • Commercial Mortgage
  • Working Capital Financing
  • Payroll Taxes
  • Various Insurance Contracts

The commercial mortgage agreement will be used to illustrate how risk management can be a helpful tool to prevent unexpected surprises. In many commercial real estate financing contracts, it has become increasingly common for banks to insert language that gives them the right to cancel the mortgage loan even when payments have been made as agreed. As a banker might say, it might not be fair but it is legal. These terms are especially common for small business mortgages, and very few commercial borrowers are aware of these provisions until they receive an official notice from the bank stating that the loan must now be paid in full or refinanced (with another lender).

With prudent risk management strategies in place for financial agreements, this surprise would either have been eliminated by negotiating the removal of this restrictive loan covenant at an early point or anticipated as a possibility from the beginning. Financial agreements can introduce a surprising number of risk problems, and managing risks should involve identifying these potential problems before they disrupt business operations.

Ateeya Manzoor is a management strategist and partner at Mayfair.

As a professional with over fifteen years of experience, Ateeya Manzoor has worked with a large range of clients in various industries and sizes, ranging from large publicly traded financial institutions and technology firms, large resorts and entertainment venues, to midsized oil and gas companies, midsized medical and quasi medical coaching practices. She held executive positions throughout her career on Bay St. including partner of a risk management firm, National Practice Leader, Vice President of a publicly traded brokerage house. Her passion is to seek and realize potential.

To read more, please click here!

Philanthropic Giving and Philanthropic Charity by Ateeya Manzoor

Philanthropy or Philanthropic Giving simply means the effort or inclination to improve the well being of the world’s people. In the modern day, donations are targeted towards a narrowly defined cause with the aim to make a substantial change to social conditions of a community. This is usually done by large donations and financial support over a period of time.

The difference between charitable giving and philanthropy is because of the need for a large financial commitment. Philanthropy Giving is mainly something done by wealthy people where a trust and vow is set up for a specific cause in mind, which they aim to help as much as possible and create a real change.

However, a number of non wealthy people have also dedicated and donated their time, effort and money to charities, but they are not often described as philanthropists. Individual effort is not thought of as creating a significant impact to a single cause, but more as a stepping stone in the right direction which could potentially make a big difference if enough other people get on board. These are typically recognised as charitable workers instead.

Philanthropy has grown a lot over the last few years, which is also known as a development of ‘giving circles’. This is where individuals, usually a group of friends, put together their donations they’ve pledged and decide as a group how to contribute their money to benefit causes they care about the most. Bill Gates and Warren Buffett have played a substantial part in the re emergence of philanthropy, and have applied their business techniques to make as much difference as possible. This is called philanthropcapitalism.

Philanthropic charity can be set up so that other people can donate to the organisation which donates all its funds to a certain charitable cause. This all adds up on top of the other fundraising projects that the organisation has got going. Many charities have already benefited from Philanthropic giving over the past few years.

Some people opt to pledge their funds to those organisations which help people’s health, for example providing them water, food or medicine after a disaster, or simply in a poorer area of the world. Others decide to help by providing long term future prospects for the underprivileged, by building schools or creating job opportunities. Another option is to help with the environment, such as recycling, reducing carbon footprint, or clearing up oil spills. Others may specifically aim to help animal charities to provide shelter or care for abandoned pets, or for a specific disease such as Cancer, where funds are provided to pay for research to fund cures. Ultimately, this will help a lot of people in the future.


Ateeya Manzoor is the Managing Director of Mayfair Management Group.

Ateeya’s commitment to realizing potential extends in 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.

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