Why pandemic has propelled property management to the forefront
COVID-19 has forever shaped how the world is. People are forced to stay home to study or work. People have realised that working from home allows them to be more productive and enjoy the flexibility of a more flexible schedule. Few people publicly express their dissatisfaction with their early journey.
By the end of 2020, prices for office spaces dropped by 10.3% and demand shrunk substantially as office workers are now able to convert their study room at home into their personal office. This rotation of demand has accelerated our need to go online to accomplish many things, such as buying food, online shopping, and virtual consultation. The era of the digital age begins.
People have begun to rely a lot on convenience provider services such as Grab Food Riders for food delivery, Amazon Delivery Service for online shopping goods, and a property manager for supervising and managing multiple properties.
Property Managers have begun to see an increase in demand as some foreigners or Singaporeans are stuck abroad, and the need for property management services to make sure the house is in proper order becomes essential. Some of the clients also like the idea of hassle-free management of their houses. With a property manager, the convenience of having just a phone call away to resolve any house issue is great!
Here are some of the services we provide in BUTLER property management:
- Property Management
- Facility Management
- Hospitality Management
- Service for real estate research and analysis
- Transaction and advisory services in real estate
- Residential concierge and household staffing services
Will property management die down after the end of this pandemic? We believe this is highly unlikely as we have found demand growing exponentially. The need for convenience service providers is deeply ingrained in the world, and we doubt they will lose steam anytime soon.
There are approximately 500 heritage homes left today. The Singapore Land Authority manages and preserves them because they are primarily state-owned (SLA). While the majority of black and white residences are rented for commercial reasons (such as restaurants and companies), others are set aside for domestic usage. Owners are not permitted to make alterations to the look and feel of these colonial bungalows in order to maintain their legacy.
Heritage homes always hold a special place in our heart. They are usually filled with a lot of history, be it the land or the occupants. Each property is unique and has its own identity. Some view it as a private space to reconnect with themselves. To others, it is a gateway into their life and personality.
Why people avoid purchasing Heritage homes?
Heritage homes are notorious for being dark and humid. The main reason why people avoid these houses is because the structure design of the home has to remain the same unless they are able to seek approval from URA (Urban Redevelopment Authority), which can be quite costly and troublesome.
Here are the common problems of owning a heritage home and what to look out for before thinking about buying such houses.
Bad Air Circulation
These homes are long narrow homes with only windows on the front and back of the home causing bad air circulation. Therefore, these homes tend to have large windows to allow more breeze into the home.
To make it a much cooler environment, some owners have even created larger airwell in the centre of the home or created water features as a cooling measure for their homes.
The supporting beams used for these heritage homes have to be made of timber wood. These wood require special care to monitor and wax to prevent it from termite and other pests from destroying the beam structure.
The clay roof tiles are thick and heavy, which makes a great roofing but the property structure has to be tested quarterly by conservationists to ensure the structure integrity of the home.
The structure of the home is very delicate, the old cherry or oak wood used for the flooring may need more care, the paint used for some of the homes to have the exact paint for the exterior and cracks within the homes need to be patch up quickly to avoid pests from entering.
Why are people still buying Heritage homes?
Despite its bad reputation, many people are still buying these homes simply for a few reasons. Here are some of the reasons.
Great Property Investment Portfolio
As a property investor, there are some heritage shophouses with dual key functions that allow residential and commercial usage.
The location of a business reflects its philosophy and character (its “flavour,” if you will), yet it might be difficult to achieve in some places — malls and office buildings tend to have a homogeneous, modern-looking design and interior. Because of its particular character, finding a commercial tenant for a shophouse is typically not difficult.
Much like fine wine or art, shophouses provide a cultural value that’s not always easy to quantify. Moreover, a combination of the prestige that comes with owning a shophouse, along with the scarcity of these properties, helps them to hold value even during downturns. In the current pandemic, we see more investors buying up these houses for their large spaces and great wealth preservation.
Large Living Space
Sometimes you don’t want the hassle of maintaining a bungalow, or you find it too small for your family. Condo living, on the other hand, may be a little too restrictive for you.
A shophouse is an excellent compromise between the two, and it is far more appealing than a typical terrace house. It has more room than a condo. While the upkeep costs are somewhat greater, they are not as costly as a bungalow.
You’re probably thinking of small places when you think of living or working spaces in densely populated districts like the CBD, Chinatown, or Joo Chiat. There aren’t a lot of new developments that can fit into these already crowded neighbourhoods. The good news is that shophouses existed in this region even before it became so densely populated. Despite being close to main facilities, this affords you a lot of space (typically at least 1,200 square feet).
Why are people asking for Butler Property Management service?
Butler property management has helped a large number of clients with their heritage home. We specialise in luxury and high maintenance properties, such houses require weekly visit and contractor work to make sure the houses are properly managed. Here is what you can expect from our services:
- Saves time and effort in the long-run
- Work with an experienced professional
- Hands-off investing and management
- Easier to scale for your investment portfolio
- Experience working with multiple contractor partner
- Contractors used are tried and stress tested, reliable and trusted, pricing are competitive
What do we have to offer?
Butler has an outstanding reputation for having a team of specialists in various sectors in the real estate industry. Each of them have decided to collaborate together to form what Butler property management to what it is today. Here are what we have to offer
- Property Management
- Facility Management
- Hospitality Management
- Real Estate Research and Analysis Services
- Real Estate Transaction and Advisory Services
- Residential Concierge and Household Staffing Services