Property is a valuable asset that requires proper attention and management to optimize its value and return on investment. This is the job of Property Management, which covers various aspects to maintain, repair, and increase the value of the property. This article will discuss more about Property Management, its purpose, types, and a brief overview of some Property Management companies in Indonesia.

Definition of Property Management

Based on the source of the article published by lancar.id, Property management is an activity of managing and supervising property assets such as industrial and commercial residential real estate carried out by contractors and or third parties. In other words, property management is the process of managing and regulating physical property and property assets owned or operated by an organization or individual. This includes various aspects, including planning, development, maintenance, repair, lease management, and property sales.

The definition of Property Management according to experts is as follows:

Scarret

Property management serves to realize the short and long-term goals desired by the owner. For this reason, the existence of this property management is to ensure that the policies (policy making) made are appropriate and have been implemented so that the existence and continuity of the property can be maintained.

Michael Thorncorf

Property Management is the provision and supervision of a property with the aim of obtaining optimal profit is not always based solely on monetary value, but also includes the requirements of community interests, status, authority, political maps, with various interests or desires of a group.

Kyle and Bairad

Property management is organizing, maintaining the operations and carrying out the objectives of real property such as land, residential buildings or office buildings of the property owner (Kyle and Baird, 1995); while a property manager is someone who carries out the duties of the property owner to maintain and even if possible increase the value of the property (Kyle and Baird, 1995).

Prof. Eiji Ogawa

Management is the planning, implementation and control of activities including the system of manufacturing goods carried out by business organizations by first setting goals for work that can be refined in accordance with changing environmental conditions.

Ricky W. Griffin

Property Management as a process of planning, organizing, coordinating, and controlling resources to achieve goals effectively and efficiently. Effective means that goals can be achieved in accordance with planning, while efficient means that the tasks at hand are carried out correctly, organized, and according to schedule.

Property Management Objectives

1. Increase Property Value: Property Management has a role to play in increasing the value of property assets through regular maintenance and proper upkeep and appropriate development.

2. Stable Income: Ensure the income from the property remains stable through efficient rental management by performing several property management activities aimed at maximizing income and investor capital.

3. Operational Efficiency: Manage and execute various physical aspects in an efficient and effective manner aimed at obtaining optimal results at the least possible cost.

4. Organizing Systems: Property Management plays a role in organizing administrative, financial, billing, and rent management systems.

5. Customer Satisfaction: Creating a safe, comfortable, and satisfying environment for tenants or property owners.

Types of Property Management

1. Residential Property Management:

Apartments: Apartment management involves managing apartment complexes, including the admission and discharge of tenants, maintenance of facilities, and handling of day-to-day issues.
Residential Homes: This deals with the management of individual homes that are rented out or managed by owners.
Community Housing: This includes the management of gated housing or large residential communities with shared facilities such as parks, swimming pools, and others.

2. Commercial Property Management:

Office: Office property management involves managing office buildings, managing lease contracts, facility maintenance, and space planning.
Retail: This deals with the management of retail properties such as shopping centers, individual stores, or malls.
Industrial and Warehouse: Industrial property management involves managing industrial facilities, factories, or warehouses used for production or storage.

3. Hospitality Property Management:

Hotels: Hotel management involves managing hotel operations, room reservations, guest services, and facility maintenance.
Resort: Resort management involves managing a vacation resort, including accommodation, restaurants, and recreational activities.

4. Investment Property Management:

Rental Property: This covers the management of a portfolio of rental properties, which can include different types of properties such as apartments, houses, or commercial units owned to generate rental income.
Commercial Investment Property: Involves the management of commercial properties owned as investments, with the aim of maximizing investment returns.

5. Association Property Management:

Homeowners' Association: Homeowners' association property management is responsible for the maintenance and management of shared facilities such as roads, parks, and security within a residential community.
Commercial Owners Association: Commercial owners' association management is similar to homeowners' associations but focuses on commercial properties and shopping centers.

Each type of property management has its own characteristics and challenges, and success in property management depends on a deep understanding of the type of property being managed and the ability to manage its operations efficiently and profitably.

Property Management Company in Indonesia

1. Tomps by Telkom Indonesia: Tomps is a company under Telkom Indonesia that provides web-based and mobile management system services for real-time planning, control, and monitoring. Tomps Building is one of Tomps' products that provides operational management systems for residential, industrial and commercial buildings. Various property management features can be found easily through one integrated application there is from Tomps Building Application.

2. Colliers International: Colliers is a global company that provides Property Management services and other related real estate services in Indonesia. They have extensive experience in managing commercial properties.

3. Jones Lang LaSalle (JLL): JLL is a global Property Management company that has long been operating in Indonesia. They have expertise in managing business properties and providing real estate consulting services.

Conclusion

Property Management is a key element in ensuring your property investment remains profitable. With an understanding of the definition, purpose, and types of Property Management, you can make wiser decisions regarding the management of your property. Tomps Building is one of the smartest solutions for your building property management. Use Tomps Building now and feel the convenience!