With the property market reminding troubled in Bahrain and project financing for new developments becoming more difficult to come by, existing property owners need to find new ways of differentiating themselves, according to an expert.
“There is an imminent need for a crucial set of property management guidelines and the direct linkage between a building’s future and good property and facilities management,” said Glover, while highlighting the salient features of current dynamic market conditions in Bahrain.
“Residential and Commercial developers need to forage ahead, despite the current situation, and not make compromises when it comes to property management, “said Tim Glover, CEO Cluttons Bahrain.
According to Glover and his team of experts, including Steve Browne, Director, Head of Facilities and Property Management at Cluttons, employing a professional Management company gives owners equanimity in their business dealings. “When you hire a property management company, you are basically removing all of the headaches that with owning a building. We make sure that efficient rent collection systems, building maintenance standards and tenant policies are in place and thus maximize the long term income and increase the asset value of the building,” said Browne.
“Good Property Management attracts good long-term clients – this is a proven fact,” said Glover. “Tenants today want to be assured that their day to day needs are being met and all enquiries pertaining to the building are handled professionally and efficiently. This is the job for a property management company,” added Glover.
“Today in Bahrain, how many buildings conduct health and safety audits for their properties,” said Glover. “This is an important issue that needed to be addressed immediately either on a developer level or even as a government regulation. With a professional such international standards are addressed making it easier to attract MNCs as tenants,” added Browne.
Cluttons strongly recommends that Property Management companies be involved from the design stage. “A review of a building’s design at the concept stage can help save the client money in the long run by insuring the building is easily letable and can be maintained economically,” added Glover.
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