PRS - Leasing & Management

PRS

PRS is starting to become the norm when it comes to residential, multi-family investments in Ireland and specifically in the Dublin area. As the sector continues to grow, these Funds, REITs and large private investors are looking to ensure that their asset is being looked after by someone with the correct expertise to not just lease the units, but to have in-depth experience and knowledge to manage and maintain these assets over the life cycle of the building.

  • At MD Property we are uniquely placed in the market to satisfy the requirements of this sector. We have all the experience required in-house to lease the units and manage them and asset as a whole over the medium to long term. We currently have one of the largest portfolios of residential units under management at 4,500 units across 65 developments. 

 

  • We understand the specific needs of such institutional investors and also have the ground level experience and expertise to assist our clients in achieving their goals. We have all the expertise in house to provide the full complement of property services to our clients, from underwriting advice, leasing strategy, marketing, unit management and block management.

 

LEASING

  • Our involvement on the leasing side generally begins prior to an asset being purchased. We recognize the importance of accurate rental valuations of a client’s potential purchase and how that effects their view on the purchase.

 

  • We have become a market leader in providing underwriting to PRS. Our extensive experience in the marketplace and our volume of units allows us to accurately advise our clients of ERV's when making investment decisions. In addition, we also advise on the costs in addition to the acquisition such fit-out requirements, marketing strategy, vacancy rates, occupation timelines etc.

 

PRS UNIT MANAGEMENT & BLOCK MANAGEMENT 

At MD Property, we believe that efficient & effective Property Management is at the core of successful asset management. We recognise the fact that medium to long term cost control is essential to maintaining value. 

  • When it comes to the successful management of large scale residential developments for our PRS clients, REITs and large private landlords, we are best placed to understand and effect cost control for such clients. We achieve this by efficiency in our operations and software systems in house.  We also use our bulk buying power to obtain the best rates in the market for our clients on headline items such as waste, electricity, insurance etc. We are therefore able to run our properties more efficiently for our clients at gross to net percentages well under the market average. 

 

  • Accurate budgeting is central to gaining a real understanding of how an asset will perform over its life cycle. With this in mind, we prepare annual budgets for our clients on the Leasing, Unit Management and Block Management (service charges). We ensure that the highest standard of service is being provided to our clients at all times. We regularly evaluate all our 3rd parties’ service providers and carry out regular reviews to ensure that they are fulfilling their duties in a proper and timely manner. 

 

  • Due to the nature of our business, we are in constant contact with alternative suppliers and contractors which allows us to keep up to date with current market prices and services. We can then compare and contrast different suppliers in the same industry so as to ensure that our clients are receiving the best value for money service available. 

 

  • We have successfully cut our clients annual expenditure through auditing the services provided to the building and negotiating with suppliers in a constant bid to ensure value for money. As mentioned, we use our bulk buying power to secure competitive rates for our clients. This allows us to provide our clients with low annual rates which translates to lower gross to net ratios. 

 

  • Planning and advice on medium to long term funding for any property is essential to understand the real cost of the asset over time. At MD Property, we understand this process and assist our clients in preparing sinking fund or PPM plans from 2 years to 60 years depending on the life span of the items in the building. We carry out a survey of the property, identify the all components which will require maintenance and renewal in the medium to long term. Our Clients find this level of detail extremely valuable when it comes to making a decision to purchase one asset over another along with understanding the major cost points of their assets over their life span.

 

If you are interested in finding our more in relation to our PRS services, please email us at info@mdpm.ie or call + 353 1 660 7803