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

First Time Managers Tips by Ateeya Manzoor – Gaining a Management Perspective

As a new manager, there are numerous adjustments you’ll need to make, least of which is your business perspective. On top of getting results through others rather than performing certain tasks yourself, you need to gather a new view of the business landscape in which you now stand. Think for a moment of how a scene might look from the peak of a hilltop compared to that same landscape viewed from the forest floor. It’s the perspective from the hilltop you need to obtain in order to lead your team through the forest.

Three key elements to understand are:

  • Where your business fits into the marketplace
  • The business’s measurable objectives or goals
  • How your team contributes to the business achieving its overall objectives

You may already be very clear about some of these elements by virtue of having worked at the company prior to becoming a manager. But if you’re lacking information in any of these areas, it’s time to start backfilling. Your value to the company as a manager is to guide your group to meaningfully contribute to achieving the company’s articulated objectives, even if you’re only supervising a small group. Don’t ever trivialize your team’s contribution. Every group and every individual plays an essential role in the organization, especially when they’re all aimed at the same corporate goals. Managers or supervisors who “get” the big picture will always stand out because they direct their teams in alignment with the needs of the business.

To learn and understand the three key elements of the big picture, schedule time for yourself to do your homework and consider your resources. Put 30 minutes a week on your calendar to gather information until you’ve pulled it all together. Think about where certain information may exist that you can read and who might aid you in getting your bearings on your trek to the top of the hill. Following are questions to consider and resources to use to gain insight into Key #1: Where Your Business Fits into the Marketplace.

How to Do Your Homework Questions you should seek to answer are:

  • What’s the corporate mission?
  • Where does my business fit into the market?
  • Who’s the competition?

The company website can be an excellent source of information about the corporate mission and can give you insight into your company’s consumer. Because many businesses units operate in “silos” i.e. they’re not connected to or integrated with other functioning units of the company, you may have worked for your unit for quite some time but not have an awareness of other products or customers of the company. If you haven’t mined the company’s website before, do so now; you may discover some aspects of the business’s face to the public that you didn’t know.

If your company is publicly held, the most recent annual report will be a source of information as well. This is a report that public companies are required to furnish to their shareholders. Though the pages of financial details may be initially overwhelming and may not be important for you to master as a new manager, check out any letters or reports from the CEO and Chairman that are included since these address the condition of the business. Ask yourself:

  • What are the trends that are discussed?
  • Are there subsidiaries or brands that you weren’t aware of?
  • Where are the company’s locations in other countries?

Though this information may not be relevant to your day to day job as a manager now, having this information helps you to understand where your business unit fits into the larger picture. It may also suggest opportunities you’d like to pursue that you hadn’t previously considered.

Read articles related to both your company and your industry. You’ll learn a great deal about competitors and where your company fits in. You’ll also need to analyze what’s in the press. Current events having to do with the industry or your company may not reflect the long range, big picture view for the company and may be sensationalized to sell papers.

Once you’ve done your homework, go to your boss and validate your conclusions. Confirm that what’s on the website is still the current direction of the company. Companies are fluid; changes that you should know about may not have been posted on the website yet (and last year’s annual report may not reflect the current state of the business).

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

Through her 20+ year career spanning Bay Street and Main Street, Ateeya Manzoor has worked on projects in the technology, legal, hospitality, property development, engineering, oil and gas and professional development industries.

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