Venco Property Management
Venco Property Management – Gold Coast Property Management is a State of California Licensed Realtor CA BRE # 01835788 with extensive Real Estate experience in Southern California, especially in Ventura County. Our other company, Gold Coast Commercial Real Estate, has provided realtor services to the real estate market for over 10 years. Our experience, dedication and education allows us to offer our property management services to property owners throughout the area. Gold Coast Property Management acts as a complete property manager for a wide array of residential and commercial properties. Additionally, our Ventura County website hosts commercial and residential listings for commercial properties.
At Gold Coast Property Management, we offer specialized services to our clients. Whether you’re looking for a great home, or you’re looking to rent your property, we’re here for you.
Venco Property Management
Are you looking to find a rental home in Ventura County or Santa Barbara County? Our website is a top source for house rentals, apartment rentals, condominium rentals, and other residential rentals. Browse through our home rental listings here.
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In Ventura County or Santa Barbara County, we make it easier and faster for you to find the perfect bargain. Whether you’re looking for industrial, retail, office, or mixed-use rental properties, we have something for you. Browse through our commercial rentals for lease here.
Gold Coast Property Management is an experienced and professional Ventura property management company serving all types of residential and commercial properties. Our goal is to provide you with the service you would expect if you own the goods. We provide a full range of property management services, such as handling all tenant issues, including collecting rent, handling property repair and maintenance requests, marketing your rent and leases, and more.
Gold Coast Property Management State of California Licensed Realtor CA BRE # 01835788. We do business equal housing opportunity in accordance with the Federal Housing Law. In the past seven months we have seen the price per liter of diesel increase by a staggering 136% from 330. to 780. The results have been varied, including an increase in inflation, at a 5-year mark in June of 18.6%, as well as rising costs for residential and commercial property owners.
In March, we began documenting how residential property owners and facility managers respond. With the help of Venco and Gatepass, we also tracked trends in tariffs and energy changes in multiple residential communities within the country. Here are the 6 major trends we have noticed so far;
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We surveyed 22 farms in Yaba, Ikeja, Surulere, Victoria Island, Lekki Phase 1, Ikoyi, Osapa, Chevron and Ajah. Our analysis shows that the average tariff increased by 76% from 90/KwH to 178/KwH between February and July.
To put this in context, a typical breakdown of costs in managed properties or services is usually broken down, as shown below:
Since it is impossible to accurately estimate the amount of power that will be supplied from the national grid, facility operators and owners are typically asked to pay a deposit based on expected consumption. This deposit shall be deducted from the use of the metric or simple division between all the tenants. Rollovers or top-up requests will be made as required.
All the farms serving and the communities that he chose for this analysis operate a tariff system that involves a single energy cost that covers the national demand and the payment of internally generated energy, usually diesel. These tariffs, typically measured in Naira per Kilowatt Hour, allow for a relatively simple way for homeowners to account for all their energy consumption.
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Based on the above analysis, this average 3-bedroom apartment saw its total energy costs go from ₦70, 000 to ₦140, 000 per month, over a period of 6 months. We are in an environment of high inflation where incomes are still rising, this should highlight how difficult things are for the average Nigerian.
Speaking on the tariff increases, Nahel Jarmakani, Managing Director of Key Green Management explained: ‘Before the crisis, anyone who had surveyed the market would have seen tariffs ranging from N70 per KwH to N95 per kWh. GreenKey was ranked at the bottom of N72-N78 across all the farms we manage. Having an affordable rate was a key competitive advantage and helped to keep our retention rate high. When the crisis hit, these rates could not be reached, a sharp increase was expected. What was not expected was how bitter it was when some farms started charging as much as N320 per kWh! Naturally, many board owners or community managers began to investigate how these fees were calculated, any facility manager was working without a good and transparent system.’
A central theme emerging from our research was the importance of property managers in multi-family residential properties or estates.
When diesel prices rose, tenants spend more time than they are spending and they also demand a better account of all expenses from the capacity manager, who is responsible. This extra scrutiny reveals how poorly the assets have been managed.
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These challenges have shown the need for better management with some owners preferring properties with a better management track record.
A newly married couple who occupy an apartment on Victoria Island had this to say about their experience over the past six months: “For us, the price increases have exposed the ineffectiveness of our manager’s ability and ineffective management process. Before the recent change, we were not accounting for how the service was being spent, so we knew it would be difficult if we had surpluses or shortages. Obviously, when diesel prices went up and the facility manager demanded more money, the tenants refused to pay, not because we didn’t know the increase, but because we were skeptical about how the money was being managed. Although the old facility manager was replaced, a new person also replaced the facility He doesn’t have much to do. He decided to leave my family, and we also know some other settlers who make similar arrangements.”
On the other hand, in good management of estates, the price of diesel increases, it just strengthened the ability of managers to facilitate management.
Samuel, the occupier of 2 beds in Lekki Phase 1 attributes the resilience and ability of his estate to keep stable operations simple, clear and brief reporting, the facility has been leading managers for years. While price increases meant that adjustments had to be made in practice, the existence of organizational transparency made it easy to navigate new challenges.
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In a 2017 survey conducted by Estate Intel to understand the apartment buying behavior for HNIs in Ikoyi, Victoria Island, Lekki Phase and Oniru, the facility of managing the property emerged as the main factor that respondents were willing to pay the highest premium on average prices. Prospective buyers have indicated a willingness to pay up to a 12.4% premium above market value for a property managed by an expert facility manager.
The number of confirmed hours has been reduced by half in most farms surveyed
Among the 22 residential estates examined, we noted that up to 60% of their 24-hour power reserve has been reduced to 12-15 hours. While this is sufficient in some cases, it presents a challenge to farmers, especially in the emerging trend towards remote operation. This results in some residents staying in the office, despite the flexibility of working at home.
Among the communities we worked with, only a few wanted to maintain their power availability with a 24-hour plan. Interestingly, a common theme among these farms was the level of transparency that preceded the diesel price hike. This made it easy for people to easily decide where to cut excesses and make savings, and what to adjust so that service changes were not made.
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MKO Balogun, director of Global PFI Curator explained to us “…residential properties have navigated the current challenges in 4 major ways, which are reducing generator operating hours, considering power modes, constant recovery through the use of meters and efficient use of energy”.
On energy efficiency, Nahel from Green Key Facility Management also noted: “Many farms have also begun to feel that their generator inspection, relative to actual consumption, was far away. For example, we had a farm to approach the assessment of their energy systems and we found that they have a generator of 250kVA at a load of 25kVA run!”
Finally, when Real Estate Intel first showed this erroneous view of how diesel prices and inflation affect the Nigerian average, we explained that this was not achieved through an increase in the household income. If the growth of industry and building operating costs is sustained, the amount available to spend on rent will be reduced. People are now looking for properties, more and more they see the difference between energy costs and closing cracks quickly. Unfortunately, given the state of the economy, the top budgets for rent are highly unlikely. So when
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