Criteria for professionalisation Tran Minh Ai Director of Property Management, Savills Ho Chi Minh City Property management is essentially the process of operation, control, and oversight of real estate as used in its most broad terms. This is much akin to the role of management in any business. Besides involving daily management, including security, sanitary tasks, landscaping, and maintenance as well as physical capital assets that are acquired, property management is responsible for accountability, financial planning, and risk administration harmonised with investors and the administrative board’s demands. After several years of familiarising themselves with the concept of property management, developers now command a solid grasp of the true benefits of property management provided by well-known brand names and reputable international corporations with ample localised experience. Not only ensuring safety and satisfaction for residents, property management services also play a meaningful role in increasing business asset value and helping shape future opportunities. For projects in the finalisation phase, the contribution of a professional property management agency is highlighted by reduced design amendment fees and giving developers an accurate cost estimation. In the handover phase, a trustworthy property management brand could increase buyers’ belief and put customers in a buying mood, thus… Read full this story
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