The aim of Elite Asset Management was to assign property management services (administration, technical systems and finances) to a single reliable service provider. As the number of properties managed by the fund was increasing, the customer's plan from the very beginning was to outsource property management services. Realia Management has been the partner of Elite Asset Management starting from the first property purchased.
Elite Asset Management Plc
Elite Asset Management Plc is an investment service company that offers various asset management services to consumer customers, companies and professional investors. Of the funds managed by Elite Asset Management, Elite Real Estate Development Fund I mainly invests in commercial facilities located in Finnish growth centres. Elite Rental Yield Fund invests in rental apartments in the Helsinki region and commercial facilities in thoroughly selected cities and towns.
- Initial situation:
Elite Real Estate Development Fund I has been a customer of Realia Management since 2016 and Elite Rental Yield Fund (non-UCITS) since its establishment in 2017. Realia Management provides Elite Real Estate Development Fund with real estate company management services (e.g. service agreements, maintenance company control), technical services (e.g. maintenance and adjustment of building systems, and repairs in buildings) and financial services (e.g. rent accounting, sales ledger and general accounting), as well as real estate evaluation services. For Elite Rental Yield Fund, Realia Management provides sales ledger services in addition to the aforementioned services. Realia Management is also in charge of apartment rental services, rent monitoring and management.
Cooperation between Realia Management and Elite Asset Management has constantly become better and more functional. Elite Asset Management considers that Realia Management has highly skilled employees throughout the organisation. Realia's support in real estate evaluations has been particularly valuable for the customer: Realia Management has adopted an active role, starting from the purchasing stage, and its managers have taken part in condition evaluations when necessary and helped the customer to clarify technical details for decision-making purposes.