With the Honeymoon period now over, it’s time for the real work to begin

Asian Achievers’ Awards Magazine (Asian Voice), September 2011

Click here to view PDF version of article

As we come to the end of another bustling, colourful and fun-filled wedding season, particularly memorable this year because it included my own, I thought why not share and compare some of the advice I have received this summer to the Prideview Properties work ethic.

First up, divorce is not an option (!). Sure, in today’s tough market, many who picked up properties in the pre-2008 ‘honeymoon period‘ have since been forced to sell. But via our subsidiary, Pride Management, we emphasise active management of our clients’ properties, much in the same way that we should all be actively managing our marriages. Among other things, we can:

 Leverage our relationships with commercial lenders to buy you some vital breathing space
 Reduce property costs – we have assisted our clients obtain £350,000 of insurance premiums in 2011, all at significantly lower prices
 Manage / find tenants - chasing late payers, dealing with ad-hoc issues and negotiating leases, rent reviews, dilapidations etc.
 Identify planning opportunities to increase the value of your property

Secondly, life is too short. We must always enjoy those special moments, rather than let the day-to-day issues of marriage overshadow them. Similarly, property management can be very taxing, undermining the satisfaction that owning solid ‘bricks and mortar’ should give you. For fees as low as 2.5% on commercial and 5% on residential management, we can remove that headache, allowing you to sit back and relax knowing your assets are in safe hands.

Thirdly, we’ve been advised to always keep each other at centre stage. Even in business, companies gradually begin to take their clients for granted. But as many of our clients will testify, our young team at Pride (not Bride!) Management are keen to build new, long-lasting relationships as well as maintain the older ones. Although most of our clients own just one or two properties, we still strive to give them the attention they deserve, because in these tough times any business is better than no business, and we remain grateful for that.

Fourthly, key to a successful marriage is clearly setting expectations from the outset. At Prideview, all our clients are different and all their properties differ. Being a family business with a long track record in property trading as well as a £50M portfolio under management, we have the unique mix of flexibility and skills to be able to offer a tailored approach to building your asset base.

Finally, please don’t forget to take a break once in a while. And where better to go than Incredible India, to enjoy the buzz, excitement and ordered disorder only found there! Indian property is booming, driven by economic growth, a burgeoning home-loan market and the desire of a young, ambitious population for a better life. But to tap into it you need guidance throughout and a name you can trust. We act as exclusive agents for several exciting projects – ideal as a second home or as a pure investment – and will stick with you from buying to holding to selling:
 Mumbai: Worli, 3.5-bedroom flats, approx. Rs. 25k psf – almost sold out
 Mumbai: Andheri East, 1.5, 2 and 3-bedroom flats, approx. Rs.10k psf – 85% sold out
 Vadodara: Sevasi (the New Alkapuri), 3-bedroom flats, approx. Rs.2.5k - available

To speak to one of our team, please don’t hesitate to call on 0208 863 8680 or visit our websites prideviewgroup.com and www.pridemanagement.co.uk. And to join our quarterly newsletter which summarises all the ways we are helping our clients make and save money, please email me at Nilesh@prideequity.co.uk

Lastly, we would like to congratulate all nominees for Asian Achievers’ awards – you have provided inspiration to us all and prove exactly why our community is so integral to the UK.

By Nilesh Raj Patel ACA

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