Latest news with #PropertyManagement
The Independent
4 days ago
- Entertainment
- The Independent
Fringe performers sleeping in cars as Edinburgh hotel prices soar
Accommodation prices in Edinburgh have soared by up to 74 per cent, with some rooms costing thousands of pounds, due to the clash between the Edinburgh Fringe Festival and Oasis reunion gigs. The simultaneous events have led to a city-wide scramble for beds, with 92 per cent of hotels and lodgings reportedly sold out on some booking sites. Comedian Marc Burrows has termed this the Oasis effect, making the already expensive Fringe catastrophically unaffordable for both attendees and performers. Fans have reported bookings being cancelled and re-sold at significantly higher prices, while some Fringe artists have resorted to sleeping in their cars due to the prohibitive costs. While Edinburgh City Council attributes the price hikes to high demand, property management companies suggest new holiday let regulations are also contributing to the increased costs.
Zawya
6 days ago
- Business
- Zawya
Al Saqer Property Management secures leadership in real estate portfolio management
Dubai, UAE: Al Saqer Property Management (ASPM), a key division of United Al Saqer Group L.L.C and a prominent service provider in Abu Dhabi, Al Ain, and the Northern Emirates, was granted the Leadership in Real Estate Portfolio Management honor, at the Pillar of Real Estate Awards 2025. The team was especially privileged to welcome Dr. Mahmoud AlBurai, Head of Policies and Innovation at the Dubai Land Department and President of the International Real Estate Federation (FIABCI) – UAE, whose presence at the event underscored his support and recognition of ASPM's contributions to the sector. In a prestigious gala dinner held at Al Habtoor Palace, Dubai, Construction Business News ME (CBNME) hosted the ceremony to praise distinguished companies and individuals for their groundbreaking developments, transformative initiatives, and exceptional contributions that continue to shape the region's dynamic property landscape. On this occasion, Hazem Al Hamed, Chief Executive Officer of Al Saqer Property Management, recognized the company's milestone as a testament to its strategic vision, saying: ' This award reflects the strategic vision and relentless efforts that drive our organization. Al Saqer Property Management continues to set high standards in the industry, and we remain committed to delivering excellence and innovation across all of our services.' From his part, Ahmad Abu Hayyeh, Property Management Director of Al Saqer Property Management, emphasized the team's role, adding: "This recognition is a result of our team's hard work, dedication, and passion. It inspires us to continue pushing boundaries and delivering exceptional value to our clients and tenants. We are honored to receive this award, and it motivates us to keep striving for excellence." This recognition is particularly noteworthy as it underscores ASPM's leadership and expertise in the UAE property management sector. It reflects the company's ongoing efforts to innovate and deliver world-class services that meet the highest standards of sustainability, efficiency, and customer satisfaction. About Al Saqer Property Management (ASPM): Al Saqer Property Management (ASPM), part of United Al Saqer Group LLC, is a leading property management company serving Abu Dhabi, Al Ain, and the Northern Emirates. ASPM specializes in providing high-quality property management solutions, focusing on innovation, sustainability, and client satisfaction. The company manages a wide range of residential, commercial, and retail properties, offering tailored services that exceed expectations. For more about ASPM, visit: About Pillars of Real Estate Awards 2025: Pillars of Real Estate Awards 2025 is a prestigious event celebrating innovation, vision, and achievement across the region's booming property sector. The awards recognize standout developers, architects, and industry influencers behind the most impactful residential, luxury, and mixed-use projects. As the region experiences rapid growth and transformation, the Pillars of Real Estate Awards aim to celebrate those redefining standards and inspiring the future of real estate in the GCC and beyond.
Globe and Mail
14-07-2025
- Business
- Globe and Mail
Professional Services Automation Powers Real Estate Efficiency in the USA, Led by IBN Technologies
"IBN Technologies [USA]" This news highlights the rising adoption of professional services automation in the U.S. real estate industry. It covers how automation streamlines lease management, vendor coordination, and financial workflows for retail-related services. Readers will find insights into improved operational speed, accuracy, and scalability driving competitive advantages. The article also discusses how AI and automation support smarter decision-making and workflow optimization. Miami, Florida, 14 July 2025 Real estate firms in the United States are rapidly strengthening operational capabilities by introducing smarter digital systems to streamline their day-to-day financial and property management services. From commercial leasing to property maintenance billing, professionals are adapting enhanced digital tools that improve turnaround times and help maintain transaction clarity. Professional services automation is being adopted in increasing numbers by property management companies, enabling them to centralize operations, reduce delays in task allocation, and accelerate response cycles with tenants, vendors, and internal teams. In recent developments, more real estate groups are advancing their financial workflows through process automation, reducing manual interventions in billing, vendor onboarding, and payment processing. The use of structured digital platforms supports maintaining consistent lease compliance, improving vendor communications, and handling high-volume property accounts with greater transparency. As firms in real estate services aim to deliver higher value to tenants and property owners, automation is becoming a crucial part of setting scalable goals and achieving them efficiently. These efforts are unlocking smoother experiences both on the business and service fronts, establishing a new direction for how property operations align with digital agility in the U.S. housing and commercial property sectors. Power your payables through automation. Manual Real Estate Struggles Intensify Manual operations in the real estate sector are under pressure as inflation impacts vendor pricing, utility costs, and service contracts. Without adaptive tools in place, property managers face increasing delays and inconsistencies that affect both service quality and revenue outcomes. Firms relying on paper-based tracking or disconnected systems are finding it harder to sustain pace in competitive leasing and property servicing environments. Rising errors in lease data entry and tenant billing Delayed vendor payments are affecting maintenance timelines Scattered recordkeeping leading to compliance risks Limited visibility on operating expenses and cash flows Time-consuming coordination among property and finance teams Increased administrative burden in multi-property tracking Difficulty in aligning field operations with office updates Slow turnaround on financial reporting and forecasting Industry experts are stepping forward with structured solutions to address these concerns at scale. Real estate professionals are aligning forms that streamline workflows and reduce friction in core processes. Professional services automation helps firms in the USA replace disjointed practices with integrated systems, leading to improved accountability, stronger portfolio control, and faster service delivery. As these solutions expand, real estate businesses are steadily regaining momentum in both operational and financial performance. Automation Services Driving Results Real estate operators in the USA are now seeking expert-backed service models to overcome manual process burdens and tighten financial accuracy. Strategic decisions are being guided by consultants who understand property workflows and help introduce systems that respond faster, reduce overhead, and align with revenue goals. ✅ Automated lease management for accurate renewals and updates ✅ Centralized invoice tracking and property expense reconciliation ✅ Streamlined vendor onboarding and contract documentation services ✅ Digital payment processing for faster rent and maintenance flows ✅ Consolidated reporting dashboards for multi-location property data ✅ Automated compliance checks for lease terms and audit trails ✅ Workflow automation tools for maintenance request coordination ✅ Digital documentation systems replacing scattered paper records ✅ Smart calendar alerts for lease expirations and service deadlines ✅ Automated communication systems for tenant and vendor updates Industry decisions are now leaning toward full-service outsourcing models that combine operational support with structured automation tools. Firms embracing this shift are witnessing fewer delays, more financial transparency, and improved management control. Real estate businesses in the USA are adopting professional services automation through expert-led frameworks, gaining speed in execution and consistency in delivery. Customized solutions provided by experienced teams are helping companies stay competitive, while firms like these continue setting new standards for efficiency. Proven Gains in Real Estate Real estate operations in the USA are demonstrating measurable results from adopting professional services automation, particularly in high-volume administrative tasks. A leading firm in the residential property segment enhanced its lease processing systems and internal coordination by embracing structured automation frameworks. Lease process time dropped by two-thirds, from 6 minutes to just 2 minutes. Transaction precision improved significantly, with error rates declining throughout U.S. offices. Over 80% of tenant communications are now automated, streamlining service interactions. Full transparency and task responsibility have been achieved nationwide operations. These outcomes highlight how automation-driven workflows are delivering real results for real estate businesses in the USA. Improved speed, consistent accuracy, and structured oversight are setting new performance benchmarks across the industry. Automation Shaping Real Estate Future U.S. real estate firms are increasingly turning toward structured digital solutions to remain competitive in a fast-moving service economy. Property management companies, brokerage firms, and leasing groups are witnessing tangible improvements in operational turnaround, financial control, and tenant servicing. The momentum surrounding professional services automation is guiding new business goals and enabling faster decisions in areas once slowed by manual intervention. With the integration of AI and automation, real estate operations are becoming more intelligent and responsive, cutting delays, boosting reporting accuracy, and allowing seamless property oversight. These tools are proving instrumental for retail-related service providers who handle complex lease cycles, multi-location assets, and fast-paced vendor coordination. The combined use of structured technology and expert-backed systems is unlocking a more scalable, accountable, and streamlined future for the sector. Companies like IBN Technologies are guiding this transformation by offering deep expertise in ERP and DMS systems. Their structured solutions support smart decision-making and workflow precision, helping real estate businesses move forward with confidence. Related Services: About IBN Technologies IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022 and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive AR efficiency and growth. Media Contact Company Name: IBN Technologies LLC Contact Person: Pradip Email: Send Email Phone: +1 844-644-8440 Address: 66, West Flagler Street Suite 900 Miami, FL, USA 33130 City: Miami State: Florida Country: United States Website:
Yahoo
16-05-2025
- Business
- Yahoo
PRO Real Estate Investment Trust (TSX:PRV. ...
Property Revenue: $25.7 million for Q1, slightly higher year over year. Net Operating Income (NOI): $14.9 million, stable compared to last year. Same Property NOI: $14.1 million, up 5% year over year. Net Cash Flows from Operating Activities: $7.4 million, compared to $9.7 million last year. Funds From Operations (FFO): $7.9 million, slightly higher year over year. Basic AFFO Payout Ratio: 93.8% in Q1, compared to 91.6% last year. Total Debt: $495 million, a $1.4 million reduction from last year. Total Debt to Total Assets: Improved to 49.3% from 50.0% at December 31, 2024. Weighted Average Capitalization Rate: Approximately 6.7% as of March 31, 2025. Portfolio Occupancy: Stable at 97.7%, including committed space. Weighted Average In-Place Rent for Industrial Portfolio: $9.92 per square foot, nearly 5% increase year over year. Distribution: Maintained at $3.75 per unit for Q1 2025. Warning! GuruFocus has detected 6 Warning Signs with TSX: Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. PRO Real Estate Investment Trust (TSX: reported a stable net operating income despite owning eight fewer properties compared to the previous year. The acquisition of six industrial properties in Winnipeg is expected to be accretive to AFFO per unit and strengthens their presence in the region. Same property NOI increased by 5%, driven by strong performance in the industrial portfolio. The company achieved robust leasing spreads, renewing 53.3% of 2025 GLA at an average spread of 34.1%. Debt management improved, with total debt to total assets reduced to 49.3% from 50.0% at the end of 2024. Net cash flows from operating activities decreased to $7.4 million from $9.7 million in the same quarter last year. The basic AFFO payout ratio increased to 93.8% from 91.6% last year, indicating higher costs relative to income. There is a potential risk with a single tenant not renewing a lease for a 176,000 square foot property in Quebec, which could impact Q4 results. The weighted average interest rate on maturing mortgages is relatively low, posing a refinancing challenge in the current higher interest rate environment. The acquisition strategy involves complex transactions, which may not always align with stock price expectations, posing a risk of overpaying for assets. Q: Gordy, regarding the strategic opportunity with Parkit, how does PROREIT plan to leverage this relationship? Does it involve acquiring more of their industrial properties? A: Gordon Lawlor, President and CEO, explained that Parkit has a significant portfolio of industrial properties in key areas like Winnipeg and Ottawa. The relationship is seen as an opportunity to manage stabilized assets and potentially collaborate on future deals, but specifics are still being developed. Q: Alison, with the upcoming debt maturities, how is PROREIT planning to handle refinancing, especially given the low existing rates? A: Alison Schafer, CFO, stated that the maturities are spread throughout 2026, with strong-performing industrial assets backing them. The company anticipates no issues in refinancing and expects potential for up-financing, with current market rates being favorable. Q: Mark, how does the accretion from the market transaction compare to the growth from future leases? A: Gordon Lawlor noted that the transaction is accretive on an AFFO per unit basis and has significant under-market rent potential, making it beneficial in the first few years and aligning with their growth strategy. Q: Brad, regarding the Parkit relationship, do you foresee opportunities to manage some of their assets and increase fee income? A: Gordon Lawlor mentioned that while formal management agreements haven't been discussed, the relationship opens up potential opportunities for collaboration and mutual benefit, especially in overlapping markets. Q: Zachary, what is the current vendor appetite for units in the acquisition pipeline, and is this a one-off strategy? A: Gordon Lawlor indicated that while there are tax synergies for sellers, these transactions are complex. The recent deal has sparked interest, but achieving a satisfactory price for both stock and assets remains challenging. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
CTV News
15-05-2025
- General
- CTV News
‘My apartment is 95 degrees inside'
Seniors at a Winnipeg high-rise say the property management company refuses to tun on air conditioning amid a heat wave. Joseph Bernacki reports.
