scholarly journals Property Valuation in the Property Management System: Analysis of Conceptual Problems

2020 ◽  
Vol 24 (1) ◽  
pp. 194-199
Author(s):  
L. Tymoshchyk ◽  
Keyword(s):  
Real Estate ◽  
Management System ◽  
System Analysis ◽  
Objective Assessment ◽  
Effective Property ◽  
Legal Framework ◽  
Property Management ◽  
Property Valuation ◽  
Conceptual Problems ◽  
The Impact

Introduction. Today, significant property assets in the form of real estate and land are in the possession of Ukraine. To make a profit from property requires an effective management system, an important tool of which is the assessment of property value. Purpose. The main purpose of the article is to consider the obstacles to the development of property valuation as one of the tools of property management. The article also explores the peculiarities of the development of Ukrainian legislation in the field of property valuation and management, presents general recommendations for the development of the property procedure. Results. The author identifies eleven conceptual problems of use and development of property valuation in the property management system. Among the most important is the lack of detailed legislative and procedural support of the property valuation procedure, in particular – the lack of a register of state property (both functionally real estate and unfinished), insufficient regulation of land and property legislation. Insufficient guarantees of observance of the rights to possession and use of property (real estate) are considered as obstacles to the growth of the role of small and medium business, and as a negative trend in the lives of people in the temporarily occupied territory. The influence on the development of property valuation of such market characteristics as competitiveness and lack of free competition, which contribute to the determination of the final value of property such factors as monopoly and government decisions, is analyzed. Conclusions. The process of property valuation occupies a significant place in the process of effective property management, but in our country this procedure is still developing. The author emphasizes that a fair and objective assessment requires, above all, respect for constitutional rights and guarantees in the field of property. The second priority area for improvement is the formation of an integrated and complete legal framework in the areas of property management and land law, the creation of a complete register of all state-owned real estate. It is recommended to pay attention to the need to study the impact of the market on the final valuation. Keywords: property valuation; property management valuation; property valuation mechanism; small business; real estate use right.

scholarly journals Assessment of the Property of a Territorial Community: Topical Problems and Ways to Solve them

2021 ◽  
Vol 25 (1) ◽  
pp. 148-152
Author(s):  
Liliia Tymoshchyk ◽  
Keyword(s):  
Real Estate ◽  
Effective Property ◽  
Economic Benefits ◽  
Real Estate Market ◽  
Property Management ◽  
The Real ◽  
The Real Estate ◽  
Property Valuation ◽  
Communal Property ◽  
Municipal Management

Annotation. Introduction. One of the trends in the development of the modern real estate market in Ukraine is the gradual growth of the real estate owners, and, accordingly, the change of the real estate management system, in particular, in the field of municipal management. Real estate, as a strategic asset, needs to be managed at a professional level. Therefore, the mechanism of property valuation of territorial communities is perceived as one of the tools of effective property management. Purpose. The purpose of this article is to find and scientifically substantiate the priority areas for improving the effectiveness of property valuation of territorial communities, and analysis related to the mechanism of evaluation of management aspects – goals, approaches, methods and characteristics. Results. The article analyzes the essence of effective management of municipal property – focuses on management goals, the priority of which is the creation of conditions for normal activities, both for each resident and all in general, analyzes the process of determining the effectiveness of municipal management in various fields and its characteristics, methods of evaluating the effectiveness of management. The main provision that guides real estate activities is that real estate development projects should meet the needs of consumers as much as possible. The views of domestic researcher N. Smentina on approaches to assessing the effectiveness of communal property – economic and social. The article provides a detailed substantive analysis of the concept of “real estate” within the complex development and its spatio-temporal characteristics that affect its value. The importance of the characteristic “optimal use of real estate” is determined. The “optimal use of real estate” reveals the conceptual content of the process of assessing the effectiveness of property use. Conclusions. Summing up, property valuation is especially important in the context of increasing the economic benefits from the sale of communal property, but the mechanism of property valuation of territorial communities in Ukrainian legislation still does not determine some specific aspects of municipal property valuation.. Keywords: property; property management; management efficiency; territorial community.

scholarly journals The Impact of Property Management on the Value of Residential Product in Saudi Arabia

2019 ◽  
Vol 2 (2) ◽  
pp. p99
Author(s):  
Omar M. Al-Otaibi ◽  
Waleed S. Alzamil
Keyword(s):  
Saudi Arabia ◽  
Real Estate ◽  
Management System ◽  
Economic Cost ◽  
Property Management ◽  
Residential Properties ◽  
Real Value ◽  
Management Institutions ◽  
Real Estate Management ◽  
The Impact

This paper discusses the impact of property management in maintaining the value of residential product in Saudi Arabia. The paper reviewed a comparison of two property models: the first is managed by the property management system, and the second is managed by the owner only. In addition, the field questionnaire was used and distributed to a sample of the study community consisting of 125 real estate management institutions and real estate office in Riyadh. The results of the analysis indicate that property management contributes to raising the quality of the residential product and maintaining its market value. The residential product which managed by the property management system loses 10% of its value after 5 years. On the other hand, the product that managed by the owner loses more than 50% of its real value after 5 years. The paper proposes to strengthen cooperation between governmental and private institutions to establish a Real Estate Data Center (REDC) for the classification of residential properties subject to the criteria of management, quality and economic cost.

scholarly journals Foreign Direct Investments and Real Estate. Practice and Models for a Sustainable Territorial Development. The Lombardia Experience.

ECONOMICS ◽  
2020 ◽  
Vol 8 (2) ◽  
pp. 123-137
Author(s):  
Alberto Celani ◽  
Gianandrea Ciaramella ◽  
Ludovica Lomacci
Keyword(s):  
Real Estate ◽  
Foreign Direct Investments ◽  
Property Management ◽  
Territorial Development ◽  
Foreign Investments ◽  
Corporate Strategies ◽  
The Impact

AbstractThis article analyzes practices of attraction of foreign investments, studying their perspective of territorial competitiveness. The analysis of investment attraction practices is assessed for the impact on the territory, from a territorial enhancement perspective. The perspective of corporate and property management and its complementarity with the needs of territorial competitiveness in a global competitive scenario is analyzed. The methodology follows what has been proposed by the literature for the implementation of corporate strategies, adapting methods and models to the context.

Selling a house and the decision to use a real estate broker in Norway

2015 ◽  
Vol 33 (2) ◽  
pp. 173-186
Author(s):  
Mary Ann Stamsø
Keyword(s):  
Real Estate ◽  
Web Sites ◽  
Property Management ◽  
Real Estate Broker ◽  
Sales Price ◽  
Content Type ◽  
Sales Process ◽  
The Usa ◽  
The Impact ◽  
Estate Broker

Purpose – The purpose of this paper is to examine the widespread of property sellers choosing to sell by themselves or through an estate agent, what characterises them and the reason for their choice. In addition the paper contains comparisons of the gap between sales price and asking price between the sales methods and satisfaction with the sales process. This study is the first study of these phenomena carried out in Norway. Design/methodology/approach – The data used for this study was obtained from a national survey including 1,649 house sellers. A logistic regression analysis is used to analyse the impact of household’s characteristics on the sales method. Findings – The main findings of this study are that 83 per cent of the house sellers used an estate agent through the whole sales process and differences in the choices are related to urbanisation, age and education. The most important reason for preferring a real estate broker is that doing the sale on your own is considered too much work. Conversely, the most important reason for doing the sale on your own is that estate agents are too expensive. Those selling without an estate agent were more satisfied and the gap between sales price and asking price was smaller than for those selling through a real estate broker. Originality/value – Issues concerning competition within the market for estate agents should be central topics for property management. Property sellers selling their property by themselves are an important contribution to increase the competition in the market for estate agents. This issue has not been on the agenda in Norway, or in Europe, in the same way as in the USA. This is probably due to the complexity in the legislation and strict laws within property sales in Central and Southern Europe. However, in Norway, UK and in the Nordic countries, the legal system is not complicated. It is rather the lockout of private individuals from the housing web sites and the fact that the property sellers are not familiar with this kind of transaction that has prevented property sellers to sell their house by themselves. Today Norway is one of few countries with a booming housing market, which also has increased the commission for estate agents. From 2010 private individuals got access to advertise their house on the housing web sites in Norway. These have influenced the focus on alternative sales methods.

scholarly journals The specificity of the functioning of the quality cost account within the quality management system of an enterprise

2021 ◽  
Vol 27 (4) ◽  
pp. 283-290
Author(s):  
Patrycja Kokot-Stępień
Keyword(s):  
Quality Management ◽  
Management System ◽  
Quality Management System ◽  
Objective Assessment ◽  
Production Costs ◽  
Cost Calculation ◽  
Quality Cost ◽  
Quality Costs ◽  
The Impact

Abstract Along with the development of quality systems, there was a need to analyze the expenditure incurred to obtain the appropriate quality of products or services and the impact of the actions taken on the results achieved by an entity. Quality costs are an important tool for improving the quality of offered products and efficiency of management, provided that the enterprise maintains a quality cost calculation. It is a system for capturing and analyzing all costs related to quality and taking actions aimed at increasing quality while minimizing production costs. The purpose of quality cost account is not only to identify areas in need of improvement, but most of all to provide information enabling the assessment of the effectiveness of the QMS implemented in the enterprise. The article indicates the essence of quality cost account. It also presents a method of implementing quality cost account in an enterprise which can be the basis for the development of a procedure within the scope of the quality management system. The presented methodology of quality cost account comprehensively indicates the scope of its conduct, responsibility for the activities carried out within it, the method of recording quality costs in the enterprise and indicators the analysis of which allows for an objective assessment of the effectiveness of the implemented quality management system.

Improvement of the property management system at the municipal level

2020 ◽  
pp. 88-95
Author(s):  
Е.В. Рожков
Keyword(s):  
Real Estate ◽  
Management System ◽  
Local Level ◽  
Property Management ◽  
Advantages And Disadvantages ◽  
Private Person ◽  
Freedom Of Will ◽  
Municipal Level

В статье анализируются данные по сделкам с земельными участками частных лиц, индивидуальных предпринимателей и коммерческих компаний, а также изъятия недвижимости. Автором рассмотрен вопрос о целесообразности проведения национализации на местном уровне в виде изъятия собственности. Рассмотрены преимущества и недостатки проходящих сделок организованными муниципальными органами власти. Представлен промежуточный вывод, говорящий о правоотношениях между частным лицом и муниципалитетом, в которых нет ни равноправия, ни свободы волеизъявления частного лица. The article provides the analyzes data concerning deals with land plots of individuals, individual entrepreneurs and commercial companies, as well as real estate forfeitures. The author considers the feasibility of nationalization at the local level represented as property forfeiture. The advantages and disadvantages of deals being established by municipal authorities are considered within. The intermediate conclusion describing legal relations between a private person and the municipality within which there is neither equality, nor freedom of will of a private person is presented therein.

scholarly journals Incentives in Swedish commercial real estate companies: the property manager function

2017 ◽  
Vol 35 (2) ◽  
pp. 150-164 ◽  
Author(s):  
Peter Palm
Keyword(s):  
Real Estate ◽  
Effective Property ◽  
Commercial Real Estate ◽  
Property Management ◽  
Real Estate Industry ◽  
Content Type ◽  
Management Level ◽  
Real Estate Sector ◽  
Work Tasks ◽  
Management Organisation

Purpose The purpose of this paper is to identify factors on the property management level for analysing incentives for an effective property management with a focus on organising it in-house. Design/methodology/approach This research is based on an interview study of 11 firm representatives from the Swedish commercial real estate sector with in-house property management. Findings The study concludes that the property management organisation in the in-house setting is governed in an informal way, with a large portion of “freedom with responsibilities” setup instead of regulations. Research limitations/implications The research in this paper is limited to the Swedish commercial real estate sector. Practical implications The insights into the paper regarding how decision makers create incentives for the property management organisation can provide inspiration to design incentives for effort. Originality/value It provides an insight regarding how the commercial real estate industry prioritises different work tasks and how incentives are created to enable effort.

scholarly journals STATE PROPERTY: ECONOMIC ANALYSIS AND MANAGEMENT

Ekonomika ◽  
2012 ◽  
Vol 91 (2) ◽  
pp. 117-128
Author(s):  
Jonas Mackevičius ◽  
Erika Ragauskienė
Keyword(s):  
Quality Of Life ◽  
Economic Analysis ◽  
Management System ◽  
Property Values ◽  
Political Stability ◽  
Economic Welfare ◽  
Property Management ◽  
Property Valuation ◽  
A Value

State property serves as an essential provision for ensuring the improvement of society‘s quality of life, the growth of economic welfare, social security, political stability and cohesive development in all facets of life. The purpose of the article is to analyze the current variety of property classifications, to perform an analysis of state property values and their management system. When transforming the state property management system towards a higher level of effectiveness, it is necessary to perform a comprehensive state property valuation which would fully reflect the structure of state property in both a quantitative and a value sense.

Impact of safety management system on safety performance: the mediating role of safety responsibility

2020 ◽  
Vol 27 (10) ◽  
pp. 3155-3170 ◽  
Author(s):  
Ruipeng Tong ◽  
Na Zhang ◽  
Xiaolong Wang ◽  
Hui Zhao
Keyword(s):  
Real Estate ◽  
Management System ◽  
Safety Management ◽  
Safety Performance ◽  
Real Estate Industry ◽  
Content Type ◽  
Mediating Role ◽  
The Impact ◽  
The Relationship

PurposeSafety management system (SMS) has been widely adopted to explore its influence on safety performance (SP). However, most existing researches recognized SMS as a one-dimension structure and neglected the influences of its subdimensions. Similarly, the impact of safety responsibility (SR) on SP received little attention. This study aims to explore the relationship between subdimensions of SMS and SP, while incorporating the mediating effect of SR.Design/methodology/approachThe research data were gathered from safety management evaluation report of a large real estate enterprise in China during 2010–2017. This paper carries out a series of data analyses to explore the impact of SMS and SR on SP. In order to analyze the synergistic impacts of SMS and SR on SP, path analysis, correlation analysis and mediation analysis were conducted using hypotheses concerning with the main subdimensions.FindingsThe results indicated SMS and SR decreased the project risk level and improved SP of real estate projects. Furthermore, the effect of SR partially mediated the relationship between the SMS and SP.Practical implicationsFindings in this research contribute to improve SP in real estate industry as well as other industries by the active assumption of SR and the successful implementation of SMS.Originality/valueThis research shows the relationship between subdimensions of SMS and SP and the mediating role of SR on SMS–SP relationship to improve SP in real estate industry.

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