Saturday, January 24, 2015

Property Management Has The Key Role IN Business

In any business, the ability to manage the resources is the main function to be concentrated. A good organisation will always have skilled managers who take their role in an effective manner. The same features are applicable in Real Estate business also. The Property Management is the process of managing the acquired property and the maintenance of the same. A duty of Property Developers generally includes maintaining a good relationship with the contractors and insurance agencies, to have a keen knowledge about the history of the property owner and as well as the lessor or tenant, and also experience in dealing with legal documents and solving legal issues. A real estate license is given by the government for the property managements to do their services, which have to be taken care by them. These managers also should undergo proper training before starting their services in real estate field.

Property Management
Property Management

 In Real Estate Property Management, the property manager should take intense care of the financial status as well as the marketing reach of their assignment. The Property Manager should provide assistance to the owner in marketing programs and promotional activities which in turn increases the occupancy and rental rates. These managers should keep a track of the financial statements and income tax issues of the owner which is very important. If the property is leased then better understanding of the tenants and collecting details about their requirements is important. The property manager should be good in facility management which includes managing the contractors like plumbers, electricians, painters etc., anything with the physical part of the property is taken care by the managers. They should have good relationship with the tenants and solve their small repairing problems which help to maintain the tenants and occupants satisfaction.

Real Estate Property Management also involves the administration skills and ability to manage risk related issues. This is completely legal sectors, solving petty issues with local residents, dealing with income taxes and financials budgets. There should be a proper record maintained for the tenants' transactions. This will help in solving legal documentation problems regarding the period of lease and more rules and regulations mentioned in the agreement. The property management in a real estate sector requires well trained and experienced managers who could concentrate on all these vital roles involved. All these responsibilities may sound simple but are really a tuff tasks.

Real Estate market is well developed and one can find lot of developers coming up in this sector of business. Everyone now require own house or flat for their secured futures. This made the flat promoters and developers business successful and profitable. But Real Estate Property Management is not as simple as real estate agents job. It involves lot of risk management abilities which the managers should cultivate throughout the journey of their profession. The whole network should have to be futuristic in their movements. The real estate is an area where the risk factor is high and one has to be always alert.
Real Estate Property Management is a skill that can be carried out effectively and profitably only depending on the professionals who undertake the projects.

Melbourne Real Estate provides all kind of real estate and property management services in Melbourne, Australia. Visit our website at to know more about our team ans services.

Thursday, December 11, 2014

The Various Aspects Of Property Management

Property management objectively maintains the property, keeps it occupied, collects and deposits rentals, budgets improvement and maintains records. In understanding the underlying details of these tasks property management becomes a full time profession and a niche for the most detailed and responsive management set-ups in the industry.
Property Management
Property Management

Whether it be an individual or a company, property management will play the role of a partner to the owner of the property and focus on increasing return on investment for the owner through efficient performance in all these four areas that form the core of any property management company or individual. 
Marketing and Financial Management
Operating expenses and budgeting is one of the foremost components of real estate property management. Information collection and analysis goes into appropriating rents that are to be set, balancing by the current markets and in deriving what is being provided against the rents that are being set. Extensive knowledge of the areas of operation and comprehensive insight on competitive rental rates is key skill areas that assist in marketing and financial aspects of property management.
Developing marketing programs, designing promotional schemes and recommending advertising strategy and requirements to the owner is imperative in order to maximize the rental rates and occupancy periods. Timely and precise reporting of financial ensures that the owner does not receive any cost surprises.
Tenancy and Occupancy Management
Understanding the specific needs of the tenants is an important aspect of property management. After getting the tenants to move in, property managers are require to respond to the tenants' requests on time, monitoring of activities with regards to the lease agreements, collection and deposition of rentals in a timely fashion, and continuing assessment of the property's facilities against other competitive rental properties in the same area. The discouraging task of eviction for violations or non-payment in a legal and acceptable manner is also a function under tenancy and occupancy management.

Facility Management
Facility management is perhaps one of the most labour intensive tasks in property management and includes physical management and upkeep of the structures and outdoor areas. Plumbing, electrical, landscaping, drainage and sewage, water facilities, safety regulations, roof, walls and appliances are all part of this function. This makes good property managers dependent on maintaining of relationships with contractors, repair companies, budgeting capital expenditures and monitoring and reporting of the quality of the repair and maintenance activities performed on all properties.

Administrative and Risk Management
Counsels, state and local government bodies all have jurisdiction over property activities. Property managementthus, requires a strong filing and record maintaining structure in place. Certain reporting requirements are mandatory for all of them. For liability issues, all tenants' activities and interactions need to be recorded and made available for a certain period of time. Meticulous financial reports and tax payment receipts need proper and accessible filing for a property management establishment to achieve operative excellence.
Understanding and enthusiasm is important in property management for efficiency and customer delight and is as important as the selling and rental functions that it handles.
Melbourne Real Estate is the group of people who love property management and investment. Here you can get the all details about Melbourne Real Estate market. We provide the best deals on apartments and town house for sale in Melbourne, South Yarra, Richmond and nearby places.

Friday, December 6, 2013

43: Gentle Intervention

The Project
I have just finished chapter 6 (implementing program management) but had to go back and make a few changes to earlier chapters to keep everything consistent. Just starting on chapter 7 (managing a program) and I’ll end up having to make changes to chapter 6 so I don’t duplicate anything. There’s a nice symmetry to all this.

Many things can cause conflicts on a project: schedules, budgets, technical opinions and administrative procedures to name but a few.  The project manager has to deal with these conflicts to keep the project on track and I have known some project managers that take the approach of confronting problems head on.  

The Way  
The wise project manager takes a more gentle approach.  If there is a problem, he tries to identify the cause of the difficulty.  If someone is being difficult, the wise project manager is assertive about the issue but does not over-react.  He is gentle with them and explains what he wants to achieve.  But if that doesn’t work, he still does not over-react, he steps back and yields knowing that their resistance will relax.  The wise project manager realises how much how little can achieve.  

The softest thing in the universe,  
Overcomes the hardest.  
That which has no substance,  
Can penetrate where there is no space.  
I thus understand the value of being motiveless.  
Teaching without words.  

Friday, November 29, 2013

42: Creative Energy

I really needed some creative energy today as I’m going round in circles with chapter six (implementing program management) and can’t figure out how to phrase things. Gave up and went down to The Bridge Inn for a pint of Yellowhammer before lunch and the problem is diminished – I’m taking the afternoon off and forgetting about it!

Creativity in projects often comes from the interaction between opposites.  If everyone on the project is in total harmony and agreement things will be very peaceful but there will be no spark.  Getting the team round a table and discussing an issue or a challenge can often lead to sparks flying but that can prove to be a very creative process.  

A poor project manager will try to force others to do what they want and will ultimately be undone by it.  The wise project manager acts in a facilitation role rather than trying to drive the team.  

The Way  
In order to lead the wise project manager learns how to follow.  In order to prosper the wise project manager learns to run the project simply.  The natural balance of nature and of the team will ensure the right outcome.  Follow others, live simply and encourage the creativity of the team.  

Men dislike that which is helpless, insignificant or bad,  
But this is how kings and lords describe themselves.  
When things diminish, they will increase.  
When things increase, they will diminish.  
What the ancients taught, I will also teach.  
That which is strong has no control over its death.  
This will be the basis of my teaching.  

Monday, November 25, 2013

Announcing Reviews in Google Places for Business

People come to Google to search for information about local shops and restaurants so they can make the best plans and purchases. That’s why as a business owner, you want to make sure you put your best foot forward online. With a quick search, locals -- or even people new in town -- can read reviews from your regulars to find the right place for a romantic dinner, a prize-winning turkey, or the perfect (last-minute) present for Mom.

Today, we’re introducing Reviews in Google Places for Business. Now you can learn what your customers are saying about your business on Google and across the web, in one place. If you have a verified business listing, you will now see your customer ratings and reviews in the easy-to-use review inbox.

Read and respond to customer reviews in the reviews inbox

Easily respond to customer reviews
Reviews also allows you to start a conversation with your customers by directly responding to comments left by users on Google. Are your customers happy with your service? Thank them for the kind words so they recommend you to their friends. Do they mention some areas for improvement? Ask them for suggestions so they visit you again.

And if you feel your business deserves more good reviews, or if you are missing feedback on your work, all you need to do now is to encourage your customers to post reviews on your Google+ page.

Business owners using the new Places for Business interface can now find the Reviews tab when they log into their dashboard as usual.

Not verified yet? Seize the moment and get started now at

Friday, November 22, 2013

41: Disturbing Wisdom

The Project
Nearly finished chapter 4 (Portfolio Management) but I’m struggling to create a yin and yang graphic to illustrate the portfolio life cycle. I’ve created the basic shape with one large and two small circles and made the two small circles black and white but I can’t work out how to make the other two segments black and white. If anyone out there knows how to create a smooth curved vector or how to flood fill a segment of two overlapping objects in InDesign please help!

Things happen on a project and it is important that the project manager finds out how and why. The wise project manager finds out and acts accordingly.  The poor project manager, even if they do manage to find out, dismisses it as nonsense.  The poor project manager thinks kindness is weakness and selflessness is not the way to get ahead.  

The Way  
People who do not see how things happen are sceptical about the wise project manager’s behaviour.  Because his motives are obscure he is hard to figure out.  It is not easy to understand a person whose foundation is invisible.  But this is the way things happen.  

The best scholar hears of the Tao,  
And practices it diligently.  
The average scholar hears of the Tao,  
And sometimes practices it and sometimes not.  
The foolish scholar hears of the Tao,  
And ridicules it.  

Friday, November 15, 2013

40: Meditation

The Project
I've now received the new templates from the publishers and started typesetting the first couple of chapters of "Project Program and Portfolio Management in easy steps". The new layout looks good. It's due for publication next March so I've plenty of time but it's a big subject to cover in easy steps. Working largely on my own these days I sometimes forget about taking a break when I'm in the middle of a interesting topic but I usually find a little time for meditation at least once a day.

Meditation requires peace and quiet but in the hurly-burly of project life there are very few moments like that.  We do need these moments of tranquility to slow down, take stock and re-charge our batteries.  But how does a project manager use them?  

The poor project manager worries about what is happening or not happening on their project, frets about what else might go wrong and gets angry at life and the world for their problems.  

The Way  
The wise project manager uses the time to meditate calmly, returning to his inner self and becoming silent.  Through meditation we can start to understand the process and through understanding the process we can begin to understand the principle.  This is the way things happen so we begin to understand what is happening on the project.  

Returning is the movement of the Tao.  
Yielding is the way of the Tao.  
The ten thousand things are born of being.  
Being is born of not being.