Property Management & Land Administration
Property Management/Land Administration in modern real estate business is a highly technical specialty that entails entrusting one’s property to a professionally qualified firm or person whom then runs it for a consideration. Property management and estate agency in general are still in their infancy in Tanzania. The reason is that during the socialist era, the practice was regarded capitalistic and henceforth frown upon. Most of the big estates were either acquired or developed by the government through its parastatal arm and were managed by in- house staff.
Following the socio-political and economic changes that are taking place in Tanzania, we have already started to witness many real estate transactions in the industry. Many big and complicated commercial and residential properties are coming up and this sends red signals that the property market monopoly which many developers like NIC, PPF, NPF etc used to enjoy is going to end in the near future. This calls for a need of a highly skilled property management team to penetrate the market with leasing promotion campaign. Together with promotional techniques, the team must possess high skills in space marketing and negotiations, interpreting market forces, interpreting laws governing land and buildings, drawing up lease agreements, accounting, record keeping and reporting.
The directors and associates of TRACE Associates are highly skilled and have vast experience in the field of “Property Management”. The Chairman has taught the subjects of Urban Land Appraisal and property management / land Economics at Ardhi Institute (now University college of Lands and Architectural Studies-UCLAS) for more than twenty years.
Areas where TRACE Associates offers its specialized service in Property management include the following:
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Land Administration |
Land acquisition and conveyance according to the requirement of the Land Act 1999 No. 4 and the Village Land Act No. 5 of 1999 and the respective 2001 Land Regulations thereof. |
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Marketing: |
Market space and select desirable tenants at the best rate obtainable in the market. |
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Look for buyers/sellers of property |
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Property Management: |
Take physical care of the property to the Satisfaction of both landlord and tenants |
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Leasing Management: |
Draw up lease agreements |
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Assess tenants during the lease/occupation of the premises to ensure optimum tenants mix of a given portfolio is attained. |
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Investment Maintenance: |
Demand and correct rent, carry out Valuations for rent review |
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Maintain income in the property in accordance with the instructions of the landlord and render periodic reports. |
Property developers / land lords who entrust their estates to TRACE Associates are assured of first class service from our highly skilled and motivated staff.
