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Maximizing Occupancy Rates in Property Management in Bahrain

Maintaining high occupancy rates in buildings is crucial to the success of property management. Occupancy in a building directly impacts the revenue stream. For example, a residential or commercial building with low occupancy can be difficult to maintain because of the lack of funds.

Therefore, maximizing occupancy in a building is an important aspect of property management.

So, how do you ensure maximum occupancy? Iris Property Managers, the top real estate property management and development company in Bahrain offer expert solutions to maximize occupancy in residential and commercial buildings in Bahrain.

Let’s look at the unique rental property strategies of Iris Property Managers in Bahrain to maximize occupancy.

Market research

For maximizing occupancy it is essential to conduct thorough market research to understand the preferences of tenants in the particular area. Understanding these preferences can help you fix rental rates in tune with the market trends.

Iris Property Management Company is a leading real estate agency in Bahrain with several years of experience in the sales and leasing of property. We also understand the market conditions and offer the most appropriate rental rates for tenant retention.   

Property maintenance

Another important factor ensuring high occupancy rates in residential and commercial buildings in Bahrain is the maintenance of the property. Prospective tenants will be impressed with a building if it is well-maintained. On the other hand, an ill-maintained building will not attract any buyers or tenants.

Hiring a property management company can help to maintain the property including building electrical works, renovation and repair, and also building AC maintenance. Iris Property Management Company is one of the best property maintenance companies in Bahrain. We undertake property and building maintenance including plumbing, decorative painting, and also handyman services among other property maintenance services. We ensure regular property inspections to retain the property value.

Amenities

Today, offering amenities plays a significant role in maximizing occupancy in buildings in Bahrain. Residential buildings that offer amenities like a fully functional gymnasium, laundry services, and walking area,  among other services, are more likely to attract new tenants and also retain old tenants. Further, commercial buildings offering amenities like high-speed internet and cleaning services attract tenants.

Enhanced tenant screening process

As one of the best property management companies in Bahrain, Iris Property Management Company offers enhanced tenant screening as an effective rental property strategy to maximize occupancy.

So, how does an enhanced tenant screening process improve tenant retention? Thoroughly screening tenants, eliminates the chances of leasing the house to tenants without a stable income and who cannot pay timely rents. Also, tenant screening reduces the rate of frequent tenant turnover. That is why tenant screening is crucial to improve tenant retention.

Tenant communication and feedback

Another rental property strategy is to ensure the satisfaction of your tenants. To gauge the satisfaction of tenants on your property you must implement an open communication policy that allows tenants to provide appropriate feedback about their satisfaction. Tenants will only be happy if they are satisfied that they are getting their money’s worth. Therefore, always encourage tenant communication and feedback.

Iris Property Managers

With properties in some of the most popular locations in Bahrain, Iris Property is one of the most preferred real estate agents in the Kingdom. Apart from Property maintenance services, we offer comprehensive real estate services like facilities and homeowners association management.

Our Projects include a range of completed and ongoing properties including Suha Plaza 1 and Orchid Plaza.

With Iris Property as your sales and leasing agent, you can find a range of properties within your budget.

Contact Iris Property Management Company for all your real estate requirements in Bahrain.

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Why Choose IRIS W.L.L. for Your Owners Association Management?

At IRIS W.L.L., we pride ourselves on delivering top-notch management services tailored to your needs. With years of experience and a dedicated team, we ensure your property is well-maintained and efficiently managed.

Our Services Include:

Financial Management

Maintenance Coordination

Administrative Support

Legal Compliance

Join our community and experience the difference with IRIS W.L.L.!

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Unlocking the endless possibilities of Bahrain's real estate market: Discover the key to your dream investment with IRIS WLL's insightful blog

https://www.iriswll.com/blog/bahrain-real-estate-market/

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Strata Management to fit your fiddle

Whenever there are a huge number of people live in a community, there emerges a problem regarding many aspects amongst themselves which cannot be solved by them. Here, they require some third party's help, who can help you at the maximum level without creating a mess or a problem to the people. So a strata management can be one amongst them, which can be of best help to you, in all possible ways. They perform the day-to-day operations of a property which is actually jointly managed by many entities. .There is numerous aspects, where you can seek help from them.

General aspects covered:·        

General accounting·        

Budgeting issues·        

Managing orders, certificates, and other paper works·        

Management of contracts·        

Collection of arrears·        

Preparation for a meeting·        

Law enforcement

The strata managers take control over all the issues faced by the homeowners association. Each and every problem can be perfectly handled in a way, which brings reputation and faith to the customers of the home and other members. They actually take over all activities regarding the election for the association and also its registration, which is a predominant and a hierarchical one also.

Financial services: When it comes to this, complex service, they take care of the account of the association, budgets and service charges' preparation. Also, another important thing would be the generation of the invoices, which involves more confusion. Again, the insurance, repair, and maintenance aspects are also thoroughly managed by these managers, in a highly fulfilling manner.

Administration services: Maintaining records is yet another area, where the help of qualified officers is needed. Getting the licenses and being in contact with the notary and other organizations are also considered important by these managers and given utmost priority. Selection of the committee members and other board members is also managed by these officials, which are very much essential for taking some vital decisions during hardships.

So here, just with a certain amount of money, you are about to manage all the aspects of these house associations and the other difficulties faced by them, which are actually in turn very confusing and complex. Here, since you cannot perform everything wholly by yourself, this  http://www.iriswll.com be of high use to them, to manage the A to Z aspects, where you necessarily need assistance, without which you cannot perform certain things.

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Advantages of proper property search

Does looking for the proper property take a lot of time? Are you still confused about your dream home?  Well, worry not! Well, we know about something that will be immensely beneficial to you. If you are transferring it interested in buying property in a new city but can't find one properly, there are good companies like IRIS- http://www.iriswll.com/ which can become the one-stop solution to all your problems.

Not everyone is talented or has the proper know - how for this kind of work.  Property search entails looking for the right kind of apartment or house which matches with all your needs and wants, fits right into your budget without causing any additional strain and can be the new starting point of your life. Of course, you definitely do your own property search as well, but using a company will be definitely more hassle-free and easy.

  If you still feel unconvinced,  here are a couple of pointers on why you should consider these above companies for property search :- 1.    They charge a nominal fee and have trustworthy professionals who will get down to the job and find you the perfect property you have been looking for.

2.    They keep track of the specifications you need and your budget restraints and will endeavor to give you the best choice among those options.

3.    They will keep in mind, the needs of your family and conduct a property search for good apartments, right near all useful amenities.

4.    They can also get special rates and discounts which may not be given to you if you approached them directly.

5.    They will search for only accredited or at least registered apartments so that you don't get caught in any kind of a legal rigmarole.

6.    They will help you to avoid one shot hasty decisions.  With a multitude of options along with their pros and cons, you can now take adequate time to think it through.

7.    It will save you the hassle and inconvenience of going around to different developers and having to search for useful information all by yourself.  These experts will be able to categories all kinds of properties that you are looking for, and in shorter time!

Thus, using above companies like this is indeed a good choice when you are looking for your dream home.  So don't hesitate! Contact them immediately and start working on finding the “Casa mia” worthy of your hard earned money!

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Property sales and leasing with IRIS

A popular investment amongst the people is buying/selling and leasing of the property since a risk factor is low and returns are guaranteed.  However, selling your property can end up costing you in taxes if you do not plan the sale of the property wisely.  If any real estate property is sold within two years of its purchase is treated as a short-term capital gain and the profit from the sale is added to the income of the seller and taxed at 30%. However, if you make the sale after two years, then any income from the sale of the house is treated as a long-term capital gain and is taxed at only 20%, after indexation.

  The sale agreement includes the names, residential addresses, and age details of the parties involved, with the parties being referred to as the seller and buyer or lessee and the lessor in the agreement. Once the sale agreement is signed by both the parties, the buyer gets the title of being the property’s legal owner with complete rights to the property.

Besides selling a property, people also tend to mortgage or lease their immovable assets, so the agreement has to mention if it's a deed of sale or deed of mortgage. A lease is a contract between landlord and property user. Leasing is very popular with small business owners, such arrangements allow new or financially down businesses to divert their capital to other business needs.

Property lease type:

Full-service lease: This type of lease is used primarily in multi-lessee office buildings. In essence, lessees who agree to such arrangements pay a single lump sum for a wide range of supplementary services in addition to the lease payment.

Gross lease: Under this terms of a gross lease contract, the lessees pay the lessor a gross amount for rent, as well as sales tax when applicable. Property costs such as property taxes, insurance, and maintenance are the landlord's responsibility; the lessees are responsible for utilities.

Net lease: Under the terms of a net lease, the lessees pay the landlord a base rent plus an additional sum that covers the lessee’s share of property taxes. When taxes increase, it is the lessee’s responsibility to cover those costs.

Percentage lease: This arrangement calls for lessees to pay a base rent or a percentage of the lessee's gross revenue. This percentage can run as high as 9 to 11 percent in some contracts, is paid on an annual, semi-annual or quarterly basis at some malls and shopping centres, however, call for even more frequent payments. IRIS makes it easy for you to get your own dream house, selling of your property and renting your house just by one click to this site https://www.iriswll.com/.

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Facility Management Services

Facility management refers to the integrated management of multiple and interdisciplinary technologies or the resources availed. The goal of facility management is to promote an efficient and collaborative environment to meet and fulfill the key objectives and mission of an organization.

It can also be termed as managing the property in such a manner that illegal activities do not occur. The people who are paying and renting must get an access to the property during the business hours as agreed upon whereas those who are not paying should be locked out such that the property remains well kept and rented.

The facilities manager is concerned with a variety of organizational goals and regarding them, he/she carry out the essential duties which include: ●       Making sure operations run efficiently

●       Ensuring the safety of workers

●       Meeting building codes and government regulations

●       Saving money

●       Boosting productivity

●       A pleasant environment creation suitable for both clients and customers.

Facilities managers use facility management software because it can help track and reach these goals. Facility management is a complex coordination of everything that is happening within a facility.

Cost reduction has become imperative in almost all sectors, be it manufacturing, corporate, educational, or residential. Facilities management proves to be an ideal feature which has been offering the essential services like the maintenance and security at a price which is quite affordable. The economic pressure that most companies have been under is owing to consistently rising maintenance and operation costs, which impacts the performance of the firm in the long run.

Facilities management help in automating various tasks in significantly reducing the energy consumption of buildings, while bringing down the overall maintenance cost. With demand for smart buildings gathering steam in various developing and developed regions, the adoption of facilities management services is likely to get a boisterous boost over the assessment period.

The rapid strides experienced by residential and commercial sectors, especially in emerging economies, is bolstering the demand for a variety of soft facilities management services, including mail-room, catering, pest control, cleaning, security, and waste management. Most countries are expected to witness a high increase in the demand for facility management services.

IRIS is one of the leading real estate, property management and Development Company of Bahrain offering an incomparable real estate experience and services for both domestic and commercial real estate in Bahrain. All the other required information about the about the company can easily be obtained from the official website http://www.iriswll.com/

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Roadbook to property management

Property management is one of the growing career fields. It requires both the skills needed in the fields of real estate and business management. Property management is additionally the management of private property, equipment, tooling, and physical capital assets that are no inheritable and used to build, repair, and maintain end item deliverable. Property management involves the processes, systems, and workforce needed to manage the life cycle of all no inheritable property as outlined on top of together with an acquisition, control, responsibility, responsibility, maintenance, utilization, and disposition.

Work of property manager

There are several aspects to this profession, together with managing the accounts and finances of the real estate properties, and taking part in or initiating the judicial proceeding with tenants, contractors and insurance agencies. the judicial proceeding is sometimes thought of a separate function, put aside for trained attorneys. although an individual is going to be liable for this in his/her verbal description, there is also a professional person operating underneath a property manager. Special consideration is given to landowner/occupant law and most usually expulsions, non-installment, provocation, the decrease of pre-orchestrated administrations, and normal aggravation are legitimate subjects that pick up the preeminent amount of consideration from property administrators. A property manager might be an outsider who is utilized to deal with the day to day tasks of a land venture. They manage all sorts of properties, from single-family homes to giant housing complexes. A property manager is liable for the guardianship and management of a physical building or property.

Property licensing in Bahrain

In Bahrain, there's no statutory regulation of property management firms, property agents or developers. In 2013, a real Estate Regulation and Development Bill was gone the Union cabinet, however, has nevertheless to require impact. The bill seeks to line up three regulative bodies within the country. the Real Estate Regulation and Development Bill was passed by the Union cabinet in early 2016 and this can be expected to induce a transformation within the management of real estate in Bahrain.

Property management system

Property management software system continues to grow in quality and importance because it decreases in worth, smaller firms and amateur property managers are able to perform using a number of identifying best practices and potency as larger firms. Property administration framework, likewise called a PMS, could be a complete programming framework application acclimated cover strategies like organizing the operational elements of the front working environment, appointments, correspondence with visitors, arranging, scope and so forth this kind of programming framework is created lodgings and investment properties.