The local market expansion takes place as a result of the merger with The Estate, the local company specialized in property management, with an experience of over 5 years and over 160 active contracts currently.
As the segment Buy-to-Let has grown, the context is favorable. Also, 15 percent of the overall market transactions’ objective is the acquisition of an apartment to invest in for a following rental, the yields exceeding in some cases 9 percent/year. The acquisition volume for renting is higher on new apartments segment from residential assemblies in areas with rents over the average market level.
„After the growth of our portfolio with a series of new projects, a natural step that followed in the company’s development is to expand our services to become a complete real estate agency, which offers the entire range of services, from business consultancy to property management, a growing niche in this period,” says Andreea Comsa, CEO Premier Estate Management (photo).
„The partnership with Premier Estate Management team is a natural step in The Estate company’ development. We are working for over 5 years with private investors and real estate developers to which we offer management services of rented properties,” said Laura Baciu, co-founder The Estate.
The expansion of company’s services focus on the consolidation of acquisitions segment for investment. The Property Management services will include the permanent relation with the tenant. The communication with the landlord takes place through a specialized soft developed for this kind of services developed by The Estate team.
„Also within the property management services packages offered by Premier Estate Management, The estate team will be in charge of the apartments rentals. The main difference compared with the services of the real estate agency in this case is that we carefully choose the tenant and agree a collaboration beneficial for all the parties,” said Baciu.
The average rent requested for the residential properties for property management services is slightly higher than the market average, as there are new apartments.