Property management - Homeland Real Estate in kigali

Property management

                                                     PROPERTY MANAGEMENT

INTRODUCTION

Property management typically involves the managing of property that is owned by another party or entity. The property manager acts on behalf of the owner to preserve the value of the property while generating income. Our mission is maximizing Client income by applying exceptional Real Estate Property Management skills, while ensuring Tenant satisfaction by adopting first rate property maintenance!

In order to maximize the net return while preserving and enhancing the capital value of that property HOMELAND REAL ESTATE LTD propose the following services and responsibilities:

  1. PROPERTY ADMINISTRATION

This part will be focusing on all issues regarding tenants and the rental income, by setting the initial rent level, collecting rent from tenants and adjusting the rent, managing tenants. This group is involved in all capacities, from finding the tenants and dealing with complaints to initiating evictions.

  • Setting Rent– We will know how to set the right rent level to attract tenants to your property. They have an understanding of the market where the property is located and have looked at comparable properties in the area.
  • Collecting Rent– Ensure optimal cash flow by setting a date to collect rent each month and strictly enforcing late fees and establish the rental schedule that will bring the best yield through the use of  a software that can facilitate us to avoid improper rent  collection
  • Adjusting Rent– We can increase the rent by a fixed percentage each year, according to individual state and/or municipal law. We can also decrease the rent if he deems necessary.
  • Finding Tenants– We will be responsible for marketing the property to fill vacancies. We know where to advertise and what to include in their ads. We should also understand what attracts tenants, so he can suggest making cosmetic improvements to help makeover the property.
  • Screening Tenants– We will be responsible for sorting through the prospective tenant applications to find the tenant that is the best fit for your property, and have a better idea of how to select the right tenants; those who will pay their rent on time, have a longer tenancy and create fewer problems.
  • Handling Leases (long and short term leases )– We will be responsible for setting the length of the lease and making sure it has all the necessary provisions to protect the owner. This includes determining the amount of security deposit
  • Handling Move Outs-when a tenant moves out, the manager is responsible for inspecting the unit, checking for damages and determining what portion of the security deposit will be returned to the tenant. After move out, they are responsible for cleaning the unit, repairing any damages and finding a new tenant.
  • Dealing With Evictions –when a tenant does not pay rent or otherwise breaches the terms of a lease, the property manager understands the proper way to file and move forward with an eviction.
  • Develop a tenant / resident relations policy: Working in conjunction with the owner of the property to enforce occupancy policies as stated in Home Owners Agreement document by initiating contact with violators and/or facilitate engaging legal services on behalf of the owner to address the problem.
  • Reports to the owner: We will make regular reports to the owner that are easily understandable about the level of occupancy

               2. OPERATIONS

This part will be dealing with the physical management of the property, including regular maintenance and emergency repairs and supervision of other employees;

  • Maintenance– We will be in charge of performing preventative property maintenance to keep the property functioning in top condition. For example, they are personally in charge of, or must hire someone to, exterminate, and check for leaks, landscape. This maintenance aims to keep current tenants happy and attract new tenants. Create and supervise maintenance schedule and repairs: through planned, preventive and emergency maintenance to preserve and to increase the value of the property.
  • Repairs-when there is an issue, the property manager must attend to it themselves or must hire someone to attend to it. They often have a large network of reliable plumbers, electricians, carpenters and other contractors.
  • Inspection of the property frequently: Providing updates about the physical condition of the property, advising on any renovations and maintenance required and make all financial arrangements to address maintenance items as identified
  • Other Employees– if there are other employees in the property, such as a concierge or security personnel, the property manager is responsible for making sure they are doing their job. The property manager can set their salaries and even fire them if they are not able of doing their jobs.
  • Vacant Properties– We should be able to look after vacant properties to make sure there has been no vandalism and to perform routine maintenance. They also make sure contractors and other repairmen are completing their work in a timely manner
  • Reports to the owner: make regular reports to the owner that are easily understandable about the physical aspect

3. FINANCE

The allocation, organization and management of all outgoings will be handled in this department to ensure that the company does not exceed the sated budget. Property manager will be responsible for managing the budget for the building and maintaining all pertinent records.

  • Managing Budget– We will operate within the set budget for the building. In certain emergency situations when the occupants (tenants) or physical structure (investment property) are in danger, we may use their discretion to order repairs or likewise without concern for the budget.
  • Maintaining Records– We will keep thorough records regarding the property. This should include all income and expenses; list of all inspections, signed leases, maintenance requests, any complaints, records of repairs, costs of repairs, maintenance costs, record of rent collection and insurance costs.
  • Audit and pay bills: Pay on behalf of the Landlord, all Outgoings such as Water and Electricity bills, insurance Rates, Ground rent.
  • Planning and preparing an annual budget for approval by the owner or (board of directors if it is company or institution) in the beginning of the year and preparing financial reports at the end of that year.

Homeland real estate Ltd.’s compensation

Payment will be made within the time specified in the formal agreement to be signed between Homeland real estate Ltd and the landlord.

  • Management fees can be either a flat amount per month ( depending on how much the property or monthly income of the property “ negotiable”)
  • Or a percentage of the gross rents collected (10% of the gross rent “negotiable”).

Recommendation: in order to keep the growth of the investment we propose that all activities regarding management should be kept within software to facilitate the work, where all the information may be assembled, manipulated and stored in one location while being available to all staff.

 

For more information contact us at : +250785764547 or send email at homelandly@gmail.com