UGANDA, Kampala | Real Muloodi News | Uganda’s property sector has seen significant growth over the last 20 years. It is a thriving and vibrant industry which contributes to 13% of the republic’s GDP. Therefore, it’s no wonder Uganda’s real estate sector is acknowledged as an excellent investment opportunity because of its massive growth prospects.
But investing in real estate isn’t just about investing money, there is also an investment of time.
Do You Need a Property Manager?
Some consider the cost of property management services a deterrent because they detract from your bottom line. Others think of it as an investment, rather than a cost; a property manager protects your real estate investment, while also ensuring your passive income actually stays passive. You pay the management fee to make the headaches of rental property ownership go away.
If you own multiple investment properties, or buy one that’s far away from where you live, you almost certainly need outside management help. Even if you do live nearby, property management takes a lot of work. If you value your time, a management company is worth considering.
What do Property Management Companies Do?
Property management companies assume responsibility for the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate.
Marketing and Leasing
Property managers, through many years of experience, have an in-depth understanding of how to maximise property marketing avenues and platforms to lease your property as quickly as possible. They help you set accurate market rates and ensure you’re not leaving money on the table with incorrect pricing strategies.
Besides marketing for tenants, they show the property and screen prospective renters. A management company also specialises in drafting lease agreements for both residential and commercial properties. In addition, they resolve any lease-related matters should they arise.
Collecting Rent
A property management company will collect the rent on behalf of the property owners. They manage income and expenses related to the property, and will manage insurance costs and claims where the need arises. Property management companies also handle rent defaults.
Maintenance
A property management company will conduct scheduled inspections before the occupation, during and after a tenant has vacated to ensure the property is in a good state. They will handle tenant complaints, and arrange for repairs and maintenance on behalf of the owner.
Knowing landlord-tenant laws and regulations
Keeping abreast of landlord-tenant laws and regulations can overwhelm property owners, particularly if they own rental homes in multiple locations. Property managers have expertise in laws, regulations and ordinances related to your tenants, and know how to adhere to them.
Bookkeeping
Property management companies keep detailed records of all income and expenditures, and will provide you with copies of vendor invoices related to the management of your property. Bookkeeping and invoice handling is critical for minimising taxes and keeping the cash flowing.
Real Muloodi’s Top 10 Property Management Companies in Uganda for 2021:
Crane Management is a subsidiary of the Ruparelia Group of Companies that started in the 1990s. Crane Management Services is the leading real estate company in Uganda offering real estate management, marketing and consultancy services. Its real estate market includes office space, retail space, commercial space, residential space, warehousing and consultancy.
2. Spectrum Real Estate Solutions and Property Management, Uganda
Spectrum Real Estate Solutions is located in Ntinda Kampala Uganda. They are a multi-faceted brokerage and property management company dedicated to finding and implementing the most effective operating and investment strategies available for the owners of income-producing real estate.
Knight Frank offers property valuation and consultancy, residential and commercial agency, and property management. Knight Frank’s property management department boasts a superior residential and commercial agency portfolio, managing a wide range of properties, including large mixed-use commercial properties and luxury estates in and around Kampala.
Property Services Limited manages, purchases and sells property within Uganda. Established in 1990 as a land and estates management company, Property Services Limited has contributed to the development of many properties that have become notable landmarks within Kampala. Property Services Limited offers effective management services, with many properties under its management portfolio.
Eastlands Agency offers property management, brokerage business, title transfer, property consultancy and development. They specialise in property management for foreign-based Ugandan property owners.
Nile Properties offers property consultancy within and around Jinja. They offer property brokerage, valuation and management, real estate consultancy, real estate investment advice, architecture, design, and planning. Having an excellent understanding of its clients’ needs, the company provides real estate and development services tailored to match the clients’ requirements.
Donville Properties offers expertise and personalized techniques for managing property. Donville has founded their management concepts on professionalism, integrity, accountability and quality service that guarantee the maximum returns of your investment, while maintaining your property at the highest standards to attract the best tenants/guests.
Incorporated in 2015 under the laws of Uganda, Property Management Riverstone Africa Limited initial focus was property management. Since then, they have diversified into property valuation and consultancy, project planning, and cost engineering.
Ecoland Property Services specialise in property sales, rent and lease. They are among the leading property agents in commercial, residential, agricultural and industrial property. They are a property management and real estate brokerage firm helping local and foreign real estate investors acquire properties in Uganda.
10. Royale Property Consultants
Fully registered in Uganda, Royale property Consultants have an exceptional experience in the Ugandans real estate market. Property management services, brokerage and real estate expert services to all Ugandans, both in and out of the country, are their major fields of operation.
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