Property Management - Assignment Example

Having them is an advantage to the company. The company also uses the most effective way s to attract customers and to retain the ones that already exist. Several sales are registered anytime a marketing campaign is rolled out. Competition also exists in the industry. The major competitors are two big foreign companies. They are Glitz Housing Company and Sarajevo Group. The company owns approximately 37% of the market share and the two companies share the remaining percentage. The financial projections of the company are expected to be more promising as compared to the past years.

Last year, the company registered a 13.64% increase in profits. This was an improvement of 4.23% on the previous year. The company expects a steady climb in income because the demand for houses is increasing daily. This puts the company at a perfect position to stabilize itself. Introduction Property management exists in the current world than never before. This is because people get busier with the increase in engagement. This is attributed to the fact that people do diverse jobs, and very few are dependent on a single job.

Property management involves several activities with different implications to the company. All these should are carried out with synchrony with the other tasks. This ensures that there is no confusion in the management of the property. Property management for residential homes includes a lot of activities. People tend to give property management firms responsibilities to handle their property because of various reasons. Some people tend to be very busy to appoint that they reassign the management of their properties to companies.

Home management is not an easy thing to do as entails a lot. It involves the maintenance of the properties so that they do not get worn out very fast. Residential homes tend to be a harder task to crack because they are occupied on almost fulltime basis. The occupancy can be by the real owners or the people who are left to guard the premises. Property management for residential homes gives the company a chance to have a personal touch with the tenants. The tenants play a big role because it is their money that drives the whole industry.

The property managers do gain a lot from their jobs. They do get a percentage of the total income in a specific period. This depends on the terms and conditions that exist between the two parties. Property management in homes has some good returns. This is because at some point in time, someone will have to own a house or at least rent one. The property management company does a lot of things to ensure that clients stick to their homes. They also lay down rules on how best they can attract customers to their housing units.

The property managers play several other key roles. They draft the budget that they work with for a given period. This includes the expenses and the incomes registered as well. The property managers also ensure that the tenants pay the rent in time. This ensures that there are no defaulters. As a result, the company’s income does not reduce in any way. Rent collection is a very crucial part in the management of properties. This is solely because it is the most important source of income. Property management for residential homes revolves around the rent collection of rent.

In case there are defaulters, the property managers also ensure that the debt is paid in due time. The property managers ensure that tenants adhere to the set rules and regulation regarding housing. The rules and regulat