Investments in operating companies grow

09.12.2009 09:40
In Russia the tradition of professional management of the buildings have come recently, and now held in its infancy. On the prospects of development of this direction, its features and attendant problems of the correspondent of RBC-Real Estate "Vera Kovaleva says CEO of the marketing group BESH Oksana Krymina.
As far as real estate management is now a profitable business? Which ensures its profitability?

- The characteristics of the real estate management as a business - a relatively low entry barrier, income stability, ease of forecasting cash flows. The nominal rate of return varies from 7% in the management of standard housing up to 20% - commercial real estate. Yield for each particular company depends on the amount of space in the management, optimization of management processes, company positioning, etc. For example, most state control structures involved in the management of massive housing losses. Companies that specialize in expensive housing tend to that of 15%, but often even those whom we believe the leaders have about 10
-11%. However, there are several companies that profitability is 50%. True, they are "loud" in the unconscious. But this is the yield, which is calculated as a percentage of turnover. If, however, calculate the return on investment - it is much higher, as the management company does not work for their money, but on the client's money. In the management company there is little of his property, only rags so drivers - and those at the facilities. Equipment for maintenance of the building is bought for money of the owner of the building and is usually included in the budget the first year of service. Our own maintenance bases have a few companies, and this is not a necessity.

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- Which market segments are subdivided residential property management?

- This market can be divided into two parts: a market already and not yet a market. First - this is all new housing, which has not had to do a major overhaul. It can be operated so as not to accumulate active physical wear (ie wear and tear caused by the excess of the time). There are houses more expensive (the club property, de lux), is slightly cheaper (business class), is quite simple, sometimes even serviced by private companies in virtually established by the state fare (economy class) - but there it is possible. Another segment - a house where there overhauled. In such houses the physical deterioration of communication, and sometimes bearing structures is much higher than the level when possible qualitative operation with payment according to the rate. In this segment of the business-class homes and not elite - expensive construction only began in the 90-ies. And these homes have not needed a major overhaul of the official rules, and where in fact was needed - he was executed.
- What are the fees for the management of various types of residential property? How much will cost services management company of the elite residents of homes, business class and economy class?
- Complete certainty is possible only for economy class, where the house is serviced DEZom. There's residents - owners and tenants - get a standard package for a standard fee. Today it is 5 rubles. 10 kopecks. - 5 rubles. 40 kop. per 1 sq. km. m per month. Separately may be offered the service of protection - a security guard or concierge. In all other cases, and a set of services and their value is determined by the contract. Operating cost housing in middle-class average is 15-25 rubles., Business and elite class - 1,5-3 dollars per 1 sq. km. m
- What are the fees for management of commercial and business centers, hotels and other types of commercial real estate?
- There are several approaches to pricing. The most valuable company in the market are companies with western capital or their franchisees. They have a high reputation and popularity. In pricing, they focus mainly on the "market price", setting a price above the "average". New leaders - companies recognized by the leading and most respected of Russian market participants. In pricing, they are guided by the conventional market price of the services and simultaneously shape it. Unlike the first category, the cost of intangible assets and compensation of top management are relatively small.
Pretenders - companies need to justify budgets, operating facility that is oriented toward the costs. An important competitive advantage for them is the ability to save the maximum number of cost items, such as advertising, management fees, as well as reduction in overhead costs due to the large volume of managed areas.
Companies new to the many segments not traditionally considered in studies describing the prevailing distribution of market shares, but they are important for studying the competition. These companies have extensive experience in other segments of the market real estate operation. Going on an attractive segment for these metropolitan commercial real estate, they are ready to focus on the lower level of profitability, to accumulate in areas of governance. However, they have a very high potential in the competition by optimizing the experience of the staff and the regulation of internal processes. These "newcomers" management offices, Class B, for example, can be regarded as the company operating the shelter of the elite and business class. Often this housing is equipped with no less complex engineering systems in operation than the commercial property that requires the associated costs. However, the profitability of operational services in this market segment tend to be lower.
- Tell us about the peculiarities of managing shopping centers (shopping mall).
- The main feature - a considerable weight of the function of selection, selection and management of tenants in the structure of governance and financial performance management. In this regard, significantly more divided function of the proper management and maintenance / cleaning. The success of the mall bring no tenants and buyers - those that are not related to the SEC any obligations. Renters, promotions, and even useful area - are only tools to achieve this success. This is reflected not only in the huge development of management functions and the tenants move an object, but especially the implementation of operational functions. Thus, the large flow of visitors increases the load on the supporting function of cleaning, the flow control on the parking lot, etc. - And each of these functions should be implemented as a friendly visitor to TRC.
- What is the specific business management centers?
- Office market is more conservative, and business center - the body more secretive in comparison with SEC, the results of the management company it appear a bit slower. Therefore, the function of your own business is crucial to building the reputation of the management company, location partners to trust. In general, the weight of the function of selecting and managing the tenants is considerably lower than in the segment of commercial real estate. Typically, the operating company has its own service manual, and frequently cleaning.
- What are the current trends in market management companies?
- Today, yet low entry barrier, so many large real estate owners create their own professional management companies. They have consciously invested in creating a full-fledged business, not pocket management companies. In a third-party control is transferred to either small or complex objects. Many management companies are thinking about the optimization of its activities, the formulation of a process approach to management of the quality management system certification. This means that the company really care about quality and about the money, including money for the client. If the company is wasteful with respect to itself, if it does not have a clear understanding of what its function is and how much resources it consumes - is unreasonable to expect that the company will be zealous towards the customer. Huge interest in the technology of building a business of property management in the regions. Companies are actively developing the technology, and today there are a few companies able to enter the Moscow market and compete with.
- What is the secret of success managing a profitable company?
- Good management company cares for the object and the money his client, builds a fair, transparent relationships with all partners and is focused on finding new ways of working. Success - it is not a miracle, and not an accident. This is the result of planned and professionally executed work, referred to as business development. There are laws and technology to build, market, development companies, and these laws should be used.

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