{"id":3912,"date":"2023-11-19T22:06:16","date_gmt":"2023-11-19T22:06:16","guid":{"rendered":"https:\/\/localhost\/likiet\/?p=3912"},"modified":"2024-03-30T05:47:48","modified_gmt":"2024-03-30T05:47:48","slug":"property-management-service-in-addis-ababa-ethiopia","status":"publish","type":"post","link":"https:\/\/liketproperty.com\/index.php\/property-management-service-in-addis-ababa-ethiopia\/","title":{"rendered":"Property Management Services in Addis Ababa, Ethiopia"},"content":{"rendered":"<h2><strong>Introduction<br \/>\n<\/strong><\/h2>\n<p>Liket Property Valuation and Management PLC is a private company established to provide professional property management services in Ethiopia. In most parts of Ethiopia, there is a growing need for property management services. Especially, the property owners who live abroad and can&#8217;t avail themselves nearby to their property.<\/p>\n<h2><strong>Objective<\/strong><\/h2>\n<p>Our management team doesn\u2019t manage your property for nothing. Rather create a better cash flow that covers all the running costs and creates the highest returns. Our primary objectives are reducing costs, standardizing operations and improving the quality of facilities. We have years of experience in managing the impact of multi-disciplinary activities within the workplace, tailored to meet your expectations. We cover all areas and asset types from shopping centres and residential to industrial portfolios.<\/p>\n<h2><strong>The Process of Managing Properties<\/strong><\/h2>\n<h3><strong>Determine an accurate rental rate<\/strong><\/h3>\n<ul>\n<li>Provide detailed documentation of the interior and exterior including photos<\/li>\n<li>Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing a good return on investment (ROI)<\/li>\n<li>Gather data on rental rates in the area and work with owners to determine the optimal rental rate. Rent research will vary but should include looking at the recently rented comparables according to size and type<\/li>\n<li>Discuss with owners the pros and cons of property rent policies<\/li>\n<\/ul>\n<h3><strong>Preparation and marketing<br \/>\n<\/strong><\/h3>\n<ul>\n<li>Prepare all legally required documentation and licenses<\/li>\n<li>Clean home and optimize interior appeal<\/li>\n<li>Manicure landscaping to increase curb appeal<\/li>\n<li>Create marketing materials, photos, videos and ads tailored to the property and advertising medium. Some of the communication\/marketing channels commonly used are:\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Paid and free rental listing websites advertising<\/li>\n<li>Printed publications (Signs, Flyers)<\/li>\n<li>Work with other realtors and leasing agents to find tenants<\/li>\n<li>Provide a 24-hour hot-line where prospective tenants can get detailed information about the property<\/li>\n<li>Field calls from prospects for questions and viewings<\/li>\n<li>Meet prospective tenants for showings throughout the week and weekend<\/li>\n<li>Provide prospective tenants with rental applications that are legally compliant with local laws<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>Screening and Selection<\/strong><\/h3>\n<ul>\n<li>Perform a background check to verify identity, income, credit history, rental history, etc.<\/li>\n<li>Grade tenant according to predefined tenant criteria<\/li>\n<li>Inform tenants who were turned down<\/li>\n<\/ul>\n<h3><strong>Tenant Move-in<\/strong><\/h3>\n<ul>\n<li>Draw up a leasing agreement<\/li>\n<li>Confirm the move-in date with a tenant<\/li>\n<li>Review lease guidelines with a tenant regarding things like rental payment terms and required property maintenance<\/li>\n<li>Ensure all agreements have been properly executed<\/li>\n<li>Perform a detailed move-in inspection to have the tenant\/guest verify the property&#8217;s condition before move-in.<\/li>\n<li>Collect the first month\u2019s rent and a security deposit<\/li>\n<\/ul>\n<h3><strong>Rent collection<\/strong><\/h3>\n<ul>\n<li>Receiving rent<\/li>\n<li>Hunting down late payments<\/li>\n<li>Sending out pay or quit notices<\/li>\n<li>Enforcing late fees<\/li>\n<\/ul>\n<h3><strong>Evictions<\/strong><\/h3>\n<ul>\n<li>Filing relevant paperwork to initiate and complete an unlawful detainer action<\/li>\n<li>Representing an owner in court<\/li>\n<li>Coordinating with law enforcement to remove a tenant or a guest and tenant or guests and guest\u2019s possessions from the unit<\/li>\n<\/ul>\n<h3><strong>Legal<\/strong><\/h3>\n<ul>\n<li>Represent the owner with utility companies, and local and governmental bodies related to renting the property<\/li>\n<li>Advise in the event of a legal dispute or litigation<\/li>\n<li>Refer the owner to a qualified attorney when necessary<\/li>\n<li>Understand and abide by the latest local and state legislation about rental properties.<\/li>\n<\/ul>\n<h3><strong>Inspections<\/strong><\/h3>\n<ul>\n<li>Perform periodic inspections on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.<\/li>\n<li>Send owner periodic reports on the condition of the property<\/li>\n<\/ul>\n<h3><strong>Financial<\/strong><\/h3>\n<ul>\n<li>Make payments on behalf of the owner (bills, Mortgage, insurance, etc.)<\/li>\n<li>Detailed documentation of expenses via invoices and receipts<\/li>\n<li>Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.)<\/li>\n<li>Advice owner on relevant tax deductions related to their rental property<\/li>\n<li>Provide easy-to-read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses<\/li>\n<\/ul>\n<h3><strong>Maintenance, Repairs, and Remodeling<\/strong><\/h3>\n<ul>\n<li>Provide and oversee an in-house maintenance crew<\/li>\n<li>Establish a preventative maintenance policy to identify and deal with repair needs<\/li>\n<li>List licensed, bonded, and insured contractors who have been vetted for good pricing and work<\/li>\n<li>Assign jobs to different parties (in-house employees, handyman and professional contractors) based on who will do the best job for the best price<\/li>\n<\/ul>\n<h3><strong>Maintain outdoor areas<\/strong><\/h3>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Landscaping<\/li>\n<li>Removing trash and debris<\/li>\n<li>Provide recommendations on how the project can maximize rental income<\/li>\n<li>Prepare preliminary cost estimates<\/li>\n<li>Get multiple independent bids for the work<\/li>\n<li>Act as general contractor overseeing the work<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>Tenant Move Out<\/strong><\/h3>\n<ul>\n<li>Inspect the property&#8217;s condition and fill out the inspection form report.<\/li>\n<li>Provide the tenant with a copy of the estimated damages<\/li>\n<li>Return the balance of the security deposit to the tenant<\/li>\n<li>Forward any portion of the owner\u2019s portion of the tenant deposit to the owner or hold in owner reserves for repairs<\/li>\n<li>Clean units and perform any needed repairs or upgrades<\/li>\n<li>Re-key the locks<\/li>\n<li>Put the property back on the market for rent<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Introduction Liket Property Valuation and Management PLC is a private company established to provide professional property management services in Ethiopia. In most parts of Ethiopia, there is a growing need for property management services. Especially, the property owners who live abroad and can&#8217;t avail themselves nearby to their property. Objective Our management team doesn\u2019t manage [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3643,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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