Why should Real Estate Companies provide Property Management Services

This is about the real estate companies that are looking towards Property management services as a strategic move to add to their topline and the bottomline of their companies. This contribution might seem low when seen in numbers, but the effect that this service would have on the company’s brand value and customers’ confidence is unparalleled.

Let us look at some of the major functions of Property Management Services:

• Maintenance and management of all amenities, security
• Facility management
• Administration and risk management
• Ensuring tenant and occupancy

Why it makes sense for real estate companies to provide property management services to their customers? Prestige Estates is one such real estate company that has over 2100 employees dedicated to deliver a high standard of service to property owners. There are clear benefits of providing these services to their customers as stated by the company. It helps the company in enhancing the longevity and resale value of the property, thereby gaining customers’ confidence. We buy property either for self-occupancy or to rent-out the same. Whatever be the reason, a house is a major investment for one-and-all. We as buyers expect that our property is well taken care of and kept in a good condition. This in turn increases the longevity as well as the resale value of the flat. What else we as buyers want, more so if our property is maintained by a reputed firm such as Prestige.

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The company’s responsibility includes maintenance and management of all amenities, security, landscaping, gardening and offering rental and resale services to its clients. The company manages almost 80% of its residential and commercial properties developed. This life-cycle approach protects property aesthetics and strengthens property appreciation well after the property has been handed over.

Sub-leasing and fit-out services: The Company also sells properties to investors and arranges for the onward lease of these properties.  Besides, the company provides interior solutions and fit-outs following which it sub-leases the property to users. The company generates revenues by charging fees for fit-outs and profits from the difference in lease rentals given to investors and taken from investors.

In addition, Prestige Estates also provides Interior solution services and Mall management services.

Well there is no denying the fact that management of a property is more difficult than acquiring a property. It is more in the case of NRIs having properties in various parts of India. What better than a renowned real estate company taking responsibility for providing management services. This enhances the confidence of a customer in your brand thereby affecting your sales for the good.