Interview | Afzal Chaudhry, Sparkle Homes Property Management
 
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Before we get to know how to start a property management company, we would have a look at inspirational story. Afzal Chaudhry, originally from Pakistan, came to North Cyprus in 1999 for academic purposes and soon joined a businessman who was about to initiate holiday lettings for luxury villas in Kyrenia. They operated the travel company which was based in UK. At the same time they hired some private luxury villas from different owners and started to let them on weekly bases, providing to their clients a full holiday package including airline tickets and rental cars as well as other local services.
He then started his own property management business in 2006, which in the course of years has grown into a reputable and successful company. Now in 2021 Sparkle Homes has a large pool and garden maintenance subdivision, an office for selling pool chemicals and parts, and a real estate company.

• People hear about Property Management but some do not really realize what it is. So why would the property owner hire a property management company?

It has become quite straight forward in North Cyprus, as most apartments in Northern Cyprus with a communal infrastructure already have Property Management included in their sale contracts, new owners are just joining in and start paying the monthly maintenance fees. If everyone is happy with a service, this is the end if any worries.

To some property owners though it remains completely unknown till they move in their property, especially villa owners! Then they realize there must be someone looking after their properties at their absence! The only solution we mostly recommend to our clients is to hire a professional property management company and there are few reasons why:

Same company for house cleaning, garden and pool cleaning. No need to look for different people to perform different jobs. There are unprofessional and unreliable people around and this can be your friendly neighbor who may be a very good man, but not so good house manager. Is his service cheaper?  Stress and hassle from low-quality work would not be worth it!

You have your standards! And you are absolutely right! We understand how hard it can be to leave your home in hands of other people and rely on them. When it comes to looking after your house the way you do it yourself you can hardly believe anybody in this world will match your standard! This will be even more crucial if you own a villa that you rent out to holiday-makers - your guests deserve the best and top quality treatment while staying at your villa, without any complaints at all!

 

• Which services will the Property Management Company provide?

The list can go long but mention a few:
• Swimming Pool Maintenance
• Housekeeping service
• Window cleaning
• Gardening
• Landscaping
• Painting/Decorating
• Laundry service
• Welcome pack of groceries for your holiday-makers
• Plumber & Electrician service
• Small construction and repair jobs
• Roof Sealing
• Power wash for terraces
• Baby equipment hire
• Paying utility bills and taxes   
• Solving any emergency situations and dealing with local authorities

 

• How to choose a right Property Management Company?

It is very important to choose a reliable and professional Property Management company to avoid any issues in the near future. Having one and the same company to deal with everyday jobs and emergencies will save you time and money. A real property manager takes care of your property on your behalf like it was his own!

Speak to your neighbors and Facebook friends, you will receive tons of recommendations, but be sure to meet with every one of those you are considering, in person. Visiting an office will also be a good idea.

It will be wise to avoid hiring individuals as they may not have sufficient skills, not to mention work permits and insurance, which may become a matter in case of any accident.

 

• Can Property Management Company assist holiday rentals if you purchased your property for investment reasons?

Literally any holiday home can be rented out short-term and with help of a good Property Maintenance Company it will generate the cash flow which will cover all maintenance costs and leave some significant income to the owner-investor.

There are definite benefits of holiday rentals such as:
The property can be used by owners at any moment and can be let out for holiday-makers at other times. So you can plan your stay in your own house at the same time keeping the bookings going and generating income.

The property will be regularly cleaned, maintained and kept fresh. Any time, regardless, it will be in ready-to-move in condition. Minor regular maintenance saves a lot of hassle compared with long-term rentals when the owners often face some serious damage to their properties leading to extra costs.

After one-two bookings many holiday-makers might return and book your property again for their next holidays. Happy frequent customers – more bookings – more income!

 

• How to start a Property Management company?

According to the regulations currently in place in North Cyprus any local citizen or foreign investor can form a property management business by registering their company following the standard procedures. Mostly Lawyers or Charted accountants are the ones who are involved in setting up the company. As you may guess, legally formed company and its founders, directors and employees requires formal registrations in all local authorities, including tax board and State insurance. The workers must be legally employed and their taxes should be regularly paid.

 

• Company taxes – Pay your taxes in a timely manner!

Vehicles, tools and other machinery and equipment – invest in a quality products with a longer and quality performance.

Hire skilful and professional workers, get recommendations from your friends, suppliers and partners from the industry. Look for specialists with multiple qualifications.

Start small – grow big. Keep your reputation from day one and word by mouth will become your permanent source of customers!

 

• What to avoid when managing communal sites?

There are difficulties we sometimes come across, especially while managing communal sites and there are not always avoidable. You will always have non-payers who often give illogical excuses, pets being left alone openly in communal areas or use of communal facilities without paying maintenance fees. Does it upset the owners who are paying their maintenance fees timely and responsibly? No doubt!

As soon as the standard of the communal site goes down, some of the owners lose their patience and make a decision to sell their property and relocate somewhere else.

In such cases we always recommend to involve authorities, it normally helps to resolve such issues quickly without going through long legal procedures. It will also encourage more people to buy properties in such complexes. As you know, communal sites are still very appealing for the buyers, and not only financially. A lot of such complexes have beautiful gardens, few large swimming pools, water slides, tennis courts, SPA, gym, and  even restaurants – all offered for one set monthly fees. It is a common work of site management company, the builder and the owners committee (when exists) to set up an easy and transparent payment system, following which will keep any communal site to the top standard at any moment of time.

 

• Does Property Management look like an essential and high potential business in TRNC?

We never had any doubt in this! We are in North Cyprus with a summer going for most of the year! The potential of this business is very wide and clearly seen!

Sparkle Homes Property Management has been successfully operating and growing since 15 years ago. We have our own teams of multi-skilled workers, professional and experienced, as well as a chain of out-source partners, connections with suppliers and a large stock of products, regular retail sales. Established office, a fleet of cars, and vans. Happy regular customers with long-going relationships and many new clients. We are now offering any property-related services for private residential properties and all-scale communal sites.

 
Everyone is going through difficult times during this Covid pandemic, both economically and mentally. Many people lost their loved ones while others are struggling financially. We can do nothing but hoping for better days and keep ourselves safe. Best wishes to all the readers of Propertync!