How does Aedifica manage its portfolio?
Residential buildings with unfurnished apartments
At the moment, Aedifica outsources the management of its portfolio of unfurnished apartment buildings. It uses external intermediaries with a good reputation on the property management market in Belgium for two reasons:
However, Aedifica has hired an operations manager to co-ordinate the services of these sub-contractors and to ensure the quality thereof. In addition, a sales and marketing manager ensures the proper rental of the portfolio and maintains direct contacts with tenants.
In order to limit the management risks, Aedifica has spread its portfolio over mulitple property managers, partially based on their experience. These property managers are in charge of the full management of the buildings, both administratively and technically. Aedifica controls their effectiveness trough periodic reports and controls.
Property managers are generaly paid based on the rental revenue.
Furnished apartments
In order to manage its 192 furnished apartments, Aedifica disposes of a marketing manager and an operations manager, which is being assisted by 3 persons. Besides, their is also 1 governant and 4 workers. This team is responsible for the management and the maintenance of the buildings as well as for all aspects of the rental.
Aedifica has decided to integrate this team internally for the following reasons: • The lease of furnished apartments, which is charachterised by a relatively higher risk than regular apartments because of the shorter average lease duration, requires an efficient and proactive management. In addition, the direct contact with clients certainly helps to imrpove the realtionship and to attract new clients. Finally, it provides the ability to quickly observe a decline in leases, which leads to a higher client rotation. • An excellent communication, good co-ordination and a good team spirit improve the coördination and service.
Aedifica commercialises its furnished apartments trough 3 websites.
Senior housing
Aedifica invests in this sector in the context of long-term contracts (property leasing or long-term lease) with professional, specialist operators. These investments provide a triple net return, given that the operating charges, maintenance charges and vacancy risks will be taken care of in full by these operators. Therefore there is no particular management or maintenance required, however Aedifica controls the quality of its buildings through regular visits.
Project management
Finally, Aedifica disposes of an engineer architect who is reponsible for the project management, renovation projects, and who controls the quality of the work that is given to specialist contractors or to Aedifica's own team of workers. The project managers leads a team of 4 workers who work in both apartments or mixed buildings and in furnished apartments. He also organises the techical due diligence within the scope of investment projects.
Who are Aedifica's main shareholders and what is the part of the shares held by the public?
Click here: Shareholding structure
Which are the advantages for a particular investor to contribute in kind his real estate portfolio to a sicafi?
The advantages are various:
What will be the next dividend and when will it be paid?
Click here: Dividend policy
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