subject: Property Management around the World [print this page] Property Management around the World Property Management around the World
Not surprisingly, property management is a massive business; this is not just the case locally but all around the world too. A result of this means that there exists thousands of property management companies worldwide that cater for varying types of properties and clients.
While the type of property Management Company may vary, they all share common themes with the services that they offer and they include the following:
Administration services day to day running and upkeep for clients and suppliers;
Rent invoicing, service charges and arranging insurances;
Control of budgets;
Marketing;
Helpdesks;
Tenant compliance;
Landlord and tenant contracts/legislation;
Asset management.
The above outlines common services that form the basis of property management throughout the world and these may be applied to all different types of this type of management such as for residential properties, retail outlets, industrial schemes or shopping centers. While a good property management company will provide these services in general, many also offer bespoke services that are tailored to each client.
By offering a tailored solution to each individual, the company in charge will then be in a better position to offer effective and efficient services which can make a fundamental difference to the clients business and bottom line.
These companies also vary greatly in size and may range from a local management team within one town to a worldwide property management network that spans across many countries or continents.
No matter the size or types of services that a certain company offers, they share a common theme as to their purpose. This includes providing the above points while at the same time covers each aspect of property, asset and facility management and accounting.
Wherever a property management is situated, how large the client or property in question is, the goal is to always ensure strategies are in place to maximize investment performance while ensuring an efficient running of safety procedures, reporting, administration and income collection.
Of course local markets do vary from country to country as do the cultures, building types and values and the management companies need to adjust to cater for the differences in local markets. Developed countries in the west such as the US, UK, Germany and Japan have a developed market with regard to property management, whereas more undeveloped areas such as African countries both have a lesser supply and demand for such services.
