Property management and Investment management in Ireland are two very different professions

Property management and Investment management in Ireland are two very different professions
Conor Fitzpatrick

Property management and Investment management in Ireland are two very different professions

 

Spire Capital assists investors with all of the administrative, financial, capital and operations of an assigned portfolio. Our network of Property management partners are focused more on the day to day operational activities such as physical maintenance, repairs and renovations, rent collection, payment of expenses.

 

Foreign clients often ask: “Why do I need an asset manager? ” or “Why do I need to use a company structure to invest?”, the short answer is “”asset managers are better positioned and more experienced at making investments grow than their clients”.

 

Property management and Investment management are two very different professions.

 

Property management concentrates on the day-to-day operations of a property.  People who work at specific properties are typically fulfilling property management responsibilities.  A property manager maintains the value of a property.  Property management includes, but is not limited to:

 

  • Maintenance of the property and facilities
  • Renting dwellings, sites, rooms, etc.
  • Collecting rent and other charges
  • Working with staff and contractors
  • Dealing with resident, tenant and guest issues
  • Enforcing rules, regulations, covenants, guidelines
  • Risk management

Investment management is centred on financial matters; maximizing the return on investment and value of property.  They are adept at streamlining operations and repositioning a property to reduce costs and increase income.

Investment managers understand real estate as an investment.  Investment management tasks include:

 

  • Prepare long term financial forecasts and perform cash flow analysis and compute internal rate of return in order to determine a property’s financial performance.
  • Perform due diligence for acquisition or disposition of property and provide recommendations.
  • Determine value of a property and what can be done to increase the value.
  • Find and work with lenders.
  • Negotiate on behalf of the owner
  • Market an asset to increase revenue.

 

Frequently asked Questions to Investment Managers

 

1. Why do I need an Irish company to invest through?

there are many equally important reasons/benefits for using a company which include:

 

  • Tax optimisation
  • Access to mortgages
  • Legally protection for owner
  • Investor Privacy/Confidentiality
  • Estate planning
  • Investment management

 

Spire Capital establishes and manages investment companies (Propco’s) in Ireland on behalf of its foreign based investors.

 

2.How can I control the bank account of the company?

Investors have 24/7 online viewing access to the company’s bank account to check the rental income and expenses. As managing directors of the PropCo, Spire Capital will be restricted to only manage the monthly cashflows and banking activities on behalf of the investors as per the pre-agreed Investment management agreement.

 

3.How often should I come to Ireland?

When Investors initially come to Ireland, Spire capital will assist them to set-up a company and open a company bank account. During this initial visit, Spire Capital will arrange some investment opportunities for review. Once a property has been acquired, Investors will receive regular updates and depending on the size of their investment they would typically visit Ireland once per year for the initial couple of years and once they are satisfied that the investment is meeting their expectations they will usually visit less frequently.

 

Spire Capital prides itself on a rigorous process of due diligence before selecting an investment into one of our portfolios. This allows us to make successful investment decisions about the ongoing management, rental, and resale of investments

If you are thinking of investing in property as a source of alternative income, 

why not contact us today to discuss your requirements in more detail?

Phone: +353 86 325 0048 I Email: info@spirecapital.ie

  • Property Market

    TikTok looks at Dublin office space for 5,000 workers

    TikTok looks at Dublin office space for 5,000 workers TikTok is weighing plans to take on up to 500,000sq ft of office space in Dublin to facilitate a major expansion of its Irish-based operations.   The Chinese-headquartered social media company issued a request for proposal (RFP) to several commercial real estate advisers last week, with a view to securing office space in the capital capable of accommodating up to 5,000 workers.   While news of the move will be welcomed by the property sector and wider business community, coming as it does in the midst of the uncertainty being caused by the Covid-19 pandemic, a source familiar with the matter cautioned that should it proceed, any expansion by TikTok of its operations here would likely take place over several years. Global tech Such a growth pattern would however be in keeping with the pace set by the mainly US-headquartered global tech companies that dominate Dublin’s so-called Silicon Docks currently.   In the case of Google for example, its arrival here in 2003 involved just five employees and the use of serviced offices on Harcourt Street.   While the search engine giant made the headlines last week when it abandoned plans to rent a further 202,000sq ft of space at the Sorting Office, its footprint in the capital extends today to a massive 1.1 million sq ft. Total area When taken together, the collective presence which is in the process of being established by Google, Amazon, LinkedIn, Facebook and Salesforce at their respective campuses across the city will cover a total area of 3.4 million sq ft (31.6 hectares) – or enough space for 34,000 workers.   Although it would take some time for TikTok to grow its operations in the capital to a scale equivalent to its American competitors, the Chinese-owned social media app gave a clear indication of the importance it attaches to Dublin last January when it announced the establishment of its EMEA trust and safety hub here, creating 100 jobs.   More recently, the company, which is owned by Chinese group, Bytedance, signalled its intention to add a data privacy division to its Dublin team, and to locate a $500 million (¤420 million) data centre in Ireland.TikTok’s search in Dublin for what could become its European headquarters comes just two months after it pulled back from talks with the UK government on a new London headquarters. If you are thinking of investing in property as a source of alternative income, ​ why not contact us today to discuss your requirements in more detail?​ ​ Phone: +353 86 325 0048 I Email:info@spirecapital.ie Source: The Irish Times  – Ronald Quinlan.  
    Author: Conor Fitzpatrick
    Read Time: 4 mins