MANAGEMENT
Over the decades, the Group has acquired an extensive property portfolio. These properties have traditionally been handled by various agents around the country, on the basis of each agent being close at hand and having specialist local knowledge. However, over the years it became apparent that we had as much legal expertise and asset planning ability as those we employed. In the recession, matters came to a head with excessive vacancies and litigation issues.
In 1995 a strategic decision was made to bring all management in-house. We saw immediate results in increased cashflow, reduction of debtors and improved lessee/lessor relations. Vacancies soon reduced at record rents and length of term, far above the agents’ recommended benchmarks.
Many long-term legal disputes were resolved by cutting out the middleman and taking a much more proactive management attitude. Over the years, many buildings had suffered from neglect due to lack of attention from tenant and agent alike - these issues too have been tackled. The management company now handles all aspects of residential and commercial leases and building maintenance.
The net result has been properly maintained buildings with low vacancy rates, better tenant relations and improved asset potential realisation, producing better return on investment.
