Property management is the term used in connection with the management of real property and, by inference, is a specialized form of management.

Property management services are needed in the private, corporate and public sectors by owner-occupiers, landlords and tenants and for commercial property such as shopping centres, office blocks and industrial estates. Most property is held as an investment, so reviewing financial returns and property values is an important part of the work.

In this context, professional property management will, by necessity, involve day-to-day, week-to-week, month-to-month, and year-to-year management strategies and programmes designed specifically to accommodate, within agreed reasonable parameters, all the requirements of the particular real estate investment.

 
 
The objectives of professional property management are to provide informed supervision of the real estate investment so as to ensure its optimum utilisation over as long a period as possible, with the highest reasonable nett return that is obtainable without prejudice to the original capital investment.

It is therefore reasonable to state that the scope of professional property management is, by necessity, very wide and requires real estate knowledge which is both balanced and specific to the task.

Thus, in accepting instructions to manage a property ranging from a single dwelling-house or apartment unit to a block of apartments or office units, we at the Azmi Group would normally provide the following services:

 
 
Taking care of the day-to-day operations and administering the maintenance of the property;
 
Monitoring outgoings for the property and making payments out of the income from the property;
 
Preparing budgets and maintaining the financial records for the property;
 
Enforcing the terms of leases and other agreements pertaining to the property;
 
Advising on sale and purchase decisions;
 
Advising on legal and insurance matters;
 
Advising on the opportunities for the realisation of the development or investment potential of the property;
 
Advising on the necessity for upgrading the property or for the merging of interests.