Revolutionizing Property Management
RE / MAX Property Management; a Striking Partnership between RE / MAX Egypt and Hassan Allam
Property rental has become an essential part of all Egyptians’ lives. From tenants in search for a nice apartment, to big companies in search for office buildings, everyone is on the lookout for a well-maintained property to rent. On the other hand, maintaining property and renting it out is something that not all landlords are capable of doing professionally. Whether it be because of their many other engagements, or the fact that they don’ t even live in Egypt, many landlords find that their property is dormant, when it can generate revenue for them. And when it comes to corporate clients, or investment funds of multiple properties, it is not easy to make sure everything is top notch especially when the buildings require maintenance on a regular basis. This is why RE / MAX Egypt joined forces with Hassan Allam to bring forth RE / MAX Property Management, a project which is the first of its kind on this scale. Combining RE / MAX Egypt’ s stellar real estate brokerage expertise with Hassan Allam’ s reputable facility management services, the RE / MAX Property Management is ready to usher in a new age of property management in Egypt.
Introducing RE / MAX Property Management
There are plenty of reasons why some landlords own dormant property, property which does not generate any revenue, because they are simply closed. These reasons vary greatly; some people own multiple properties and only live in one, some only buy properties for investment, some live outside of Egypt, some have bought them for their children, and many other reasons.“ There are around 5 million locked up properties in Egypt”, Mr. Khaled Nasser, Chairman and Regional Director of RE / MAX Egypt says.“ These properties can generate significant revenue for their owners and in the meantime, they will solve the problems of many others who want to rent properties”, he explains.
However, many people choose not to lease out their properties, most of the time because of legal issues, such as fearing that a tenant could refuse to pay rent, refuse to leave the apartment or even ruin the property. Seeing that Egypt is in dire need of property management, RE / MAX stepped up.“ A property manager basically represents the landlord and is responsible to do everything from A to Z on their behalf. Since RE / MAX has been already in the market, dealing with thousands of customers, we see that there’ s significant need for this service in the market”, Mr. Khaled Nasser continues,“ one of our biggest concerns was that the labor quality in Egypt is very low, so we found a significant opportunity with Hassan Allam. They are a reputable Egyptian company working in contracting, development and they have a facility management company with over 800 personnel working there”.
This exciting new challenge was met head on by Hassan Allam.“ I think there’ s an opportunity here for us, because we can unlock a lot of local unused property, bring that into the real estate liquidity in the local market, and also overseas capital”, Hossam Allam, Managing Director of Hassan Allam Facilities Management, says,“ it’ s interesting for us, Hassan Allam, to be able to provide maintenance and to outsource services to the real estate market in Egypt. Having the RE / MAX Property Management vehicle available to tap into a large number of property is interesting for us”, he concludes.
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