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The property owner in this case signs a property management agreement with the company, giving the latter the right to let it out to new tenants and collect rent. The owners don't usually even know who the tenants are. The property management company usually keeps 10-15% of the rent amount and shares the rest with the property owner.
An external property management company that will issue and chase up the service charges, supervise the annual budget, and approve any additional works and requirements so that the development complies with current health and safety legislation and to ensure that the residential development, building, or estate is maintained in accordance with the lease requirements and the service level ...
Multifamily residential, also known as multidwelling unit (MDU), is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. [1] Units can be next to each other (side-by-side units), or stacked on top of each other (top and bottom units).
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
A property manager or estate manager is a person or firm charged with operating a real estate property for a fee. The property may be individual title owned or owned under the sectional title, share block company owned, and may be registered for residential, commercial office, and retail or industrial use.
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Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.