Property management from A to Z

Property management

It’s like Tetris – how to place different tenants in a very specifically divided complex, and occupy it fully?

When the leading press distributor Mediaprint & Kapa was leaving its then office in 2011, a new use was sought for it. We saw an opportunity to enter a new service segment, and we convinced the owner that we‘d take over management and leasing. We took over the empty complex, went through all the documentation, and performed a technical and spatial certification. We had to change the focus, and divide the premises to create functional units that are as easy to lease as possible, because finding one tenant for the entire property wasn’t realistic. The project included approximately four thousand meters of warehouses, and a three-storey administration building of an area of around three thousand square meters. It was built to suit its original purpose, and had an extremely specific structure.

At the same time, the complex didn’t have any name on the market, so we also took charge of marketing, came up with a name, and created an identity and a logo. Within six months, we leased the complex to the first five tenants, so it was 99 percent occupied.

In addition to regular management and maintenance, we also look after communication with tenants, modifications according to their requirements, contracts, accounting and resolution of all problems. We also deal with the further development of the property, and upon agreement with the owner, who only needs to make strategic decisions, we’re planning to add another 1,500 metres of warehouses, arranging everything from the permit to the construction itself.

Over a decade, revenue from the complex has increased by roughly a half. Although around twenty tenants have come and gone, the owner’s income was never at risk. We always immediately found replacements for those who left. Even a tenant’s bankruptcy didn’t cause a major problem, thanks to the well-constructed contracts that we prepared and concluded. We’ve been successfully operating the Štěrboholská Business Center complex for over ten years, and the owner can enjoy the growing rental income.

“It was our entry into property management. We reached such a symbiosis with the owner that he just sends an invoice for rent every month, and doesn’t have to worry about anything. In order not to lose personal contact, we go for dinner twice a year,“ says head of the Property Management Team in 108 AGENCY, Ondřej Konopásek.