MANAGING AND MAINTAINING PROPERTY

Introduction to managing and maintaining property

Introduction to managing and maintaining property

Introduction

Managing and maintaining property can be very complex especially when it involves technicalities involving engineering activities. It is because of this element of the strong hold on technical aspects that make researchers believe that engineers can make better project managers in construction projects and supply chain. In the next section we will provide answers related to the questions asked in the assignment

Property portfolio

The organization I have selected is Sun Hung Kai Properties Limited. My company invests, develops, sells, and rents properties in primarily in Hong Kong, and Mainland China. The company has a diversified property portfolio consists of residential, office, and industrial properties, as well as shopping centres and hotels. As of 2011, its land bank consisted of 44.2 million square feet of gross floor area, including 16.5 million square feet of properties under development and 27.7 million square feet of completed investment properties in Hong Kong; and 86.1 million square feet of gross floor area comprising 78.6 million square feet of properties under development and 7.5 million square feet of completed investment properties in Mainland China (Gray, 2009, pp. 112-131).

The company also owns 7 hotels with approximately 3,100 rooms; and trades marks. In addition, it provides property and facility management, cleaning, and furnished apartment management services in residential, office, and retail premises; data centre, facilities management,

Other than the properties and real estate management services, it is also one of the biggest retail operators in Asia, where it operates department stores and observation deck; manages clubs; and builds and operates expressways.

Sun Hung Kai is a very active real estate investors, its portfolio includes both traditional and non-traditional real estate projects; it also invests in many hotels and resorts outside China.

Benefits and disadvantage of being a tenant and a owner occupier

Owning a house is great for long term. But renting a house has its own benefits too. Tenants who rent houses get the most out of renting when they pay low rent. Sometimes, this is due to living in a rent-controlled building. One of the many benefits is obvious. Being a tenant or a renter would also mean not having to maintain your house. All responsibility lies on the landlord himself. Another main advantage is that you can move at ease anytime you want. For example, moving to another location to stay is much easier due as a tenant (rather than as a landlord). You will gain benefits psychologically and mentally.

Being a renter also means you do not have money being stuck in a particular house. Why is this a problem? It is when you could have used the money to invest into something else, which could prove more profitable. People who enter their retirement age will also have a better time retiring. Renters who have no obligations to pay unpaid loan balances have the clear advantage here (Wickeri, 2009, pp. 33-41).

There would be also smaller amount of money needed to pay ...