Real estate can be a very potential source of income when it is leased to others. On the other hand, it also represents a substantial business expense when it is leased from others. It is precisely for this reason that real estate management companies perform an important function in increasing and maintaining the value of real estate investments for investors.

Prominent and mega sized Real estate management companies are very few in India because the business is only becoming consolidated recently. However, the business is only set to grow since the real estate boom is here to stay in India. Though the home loan rates have been hiked by a few banks recently, the real estate transactions continue to be on a rise in the country.

Real estate management companies, administer income-producing commercial and residential properties and manage the communal property and services of community associations. Real estate management companies also plan and direct the purchase, development, and disposal of real estate for businesses.

Most real estate management companies work in the field of property management, wherein when the owners of apartments, office buildings, retail and industrial properties lack the time or expertise to assume the day- to-day management of their real estate investments, they often hire a real estate manager, or contract for one's services with a real estate management company.

Most real estate managers handle several properties simultaneously. They act as the owners' agent and adviser for the property. They market vacant space to prospective tenants, through the use of a leasing agent, advertising, or by other means, and establish rental rates in accordance with prevailing local conditions. They negotiate and prepare lease or rental agreements with tenants and collect their rent payments and other fees.

It is the real estate managers who also handle the bookkeeping for the property. They see to it that rents are received and make sure that mortgages, taxes, insurance premiums, payroll, and maintenance bills are paid on time. They also supervise the preparation of financial statements and periodically report to the owners on the status of the property, occupancy rates, dates of lease expirations, and other matters.
 

~ Category editor Sakina Kadiwala. copyright data indianchild.com

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