Exciting New Venture
Although this kind of service is new to Egypt, RE / MAX Property Management assures property owners that this is something that will positively affect their investments.“ We have a strong reputation in the market. Whether it’ s RE / MAX on a global scale, or Hassan Allam on a national scale. There is significant credibility”, Mr. Khaled Nasser says. Keeping this in mind, it won’ t be long before people are made aware of the significant help this will provide for landlords.“ There’ s a cultural shift that has to take place. Owners of real estate have to get comfortable with a third party managing their tenants. Once they realize that this is a service that can be reliably outsourced, I think the market will quickly realize that it’ s hugely convenient and allows you to enter the real estate market without having to worry about whether you’ ve got time to actually manage your investment”, Mr. Hossam Allam explains.
When property is managed by such reputable entities, this can only reflect positively on it.“ Many landlords try to deal with foreign tenants, if their property is managed by RE / MAX Egypt, this will encourage more foreign tenants to rent their properties, because that way the quality of maintenance and services will be guaranteed, and instead of having to deal with the landlord directly, they will be dealing with us”, Rida Abdul Rahim, Chief Operating Officer of RE / MAX Property Management, tells.
Landlords’ Dream Come True
RE / MAX Property Management is all about making the lives of both tenants and landlords easier. Making the life of the landlord easier happens through meticulously customized services.“ We believe that our services will solve a lot of the rental issues present in Egypt at the moment, from a legal perspective and from a tenant / landlord relationship perspective”, Mr. Khaled Nasser says. The services change in accordance to the landlord’ s needs.“ We do everything there is to be done with rental properties; arranged viewings, securing tenants, coming up with agreements, collecting the rent, depositing it back to the landlord’ s bank account, maintenance, services, and moving in and out inspections. Basically, we will arrange everything on behalf of the landlord, and he gets periodic reports”, Mr. Reda Abdul Rahim tells.
Customized Service to Property Owners
The services are tweaked and changed to suit the landlords and their property. For example, some landlords are living abroad and need someone to handle their property in Egypt, while other landlords have a portfolio of properties.“ Some full buildings need day to day service. For example, if we’ re managing an apartment there won’ t be day to day services requested from the property manager, but if the tenant has an issue the property manager will help them. However, if we’ re managing a medical building, there will be daily security, maintenance and cleaning needed”, Mr. Khaled Nasser explains. This customization is done by RE / MAX Property Management to make sure their service is used to its full potential.“ Depending on the scope of work that the client needs, we assess the needs of the project and present the offer accordingly”, Mr. Khaled Nasser tells.
the property was well maintained or not? In our case, we retain the security deposits and make an inspection report before the tenant moves in. And when the tenant is leaving, we perform another inspection. So there’ s a fair mediator here between the landlord and tenant. And if there’ s anything damaged, it gets deducted from the security deposit and the rest goes back to the tenant”, Mr. Khaled Nasser says.
Rules and Principles
There is a certain set of rules that RE / MAX Property Management follows when choosing the properties they accept to manage. After all, it is not a haphazard process.“ There’ s a minimum amount of rental that we can’ t go below, otherwise it wouldn’ t justify the cost. The conditions of the properties are very important; if the property is not in good condition and the landlord is not willing to improve or fix it, we probably will not step into it, and if it has legal issues as well. And the landlord has to gauge with us in a proper legal framework”, Mr. Khaled Nasser explains.
�o� it �i�� ��ect the �ar�et
When it comes to something as big as RE / MAX Property Management, an increase in investment is expected. The fact that international investment will be made easier should positively affect the market.“ People who may be interested in investing in the Egyptian real estate market but it is too far removed and too difficult to manage, because they need an intermediary between them and the developer and are not there themselves, there’ s an opportunity to bridge that gap”, Mr. Hossam Allam concludes. A new project of this magnitude is surely going to positively affect the market. A property management project with the names of RE / MAX and Hassan Allam will encourage many international and local investors to buy real estate in Egypt, which is bound to give the real estate market a positive boost.
Top Quality Service for Tenants
RE / MAX Property Management’ s services don’ t only help the landlords, but the tenants as well. A property cared for by RE / MAX, is a property where tenants enjoy quality service.“ The maintenance contract is compulsory for all managed properties, tenants won’ t wait three or four days to get something fixed”, Mr. Reda Abdul Rahim continues,“ if they have any issues, there will always be someone to help, rent will be collected by us instead of the tenant going to the landlord and we’ ll give them the receipts”. That is not all, there is also the issue of the security deposit.“ In Egypt, we have a problem that the deposit is considered wasted money, because who will judge if
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