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Think Project Turnkey. Think Property Management. Think monetising your investment through long term rentals. At Frank Salt Real Estate these three services come together thanks to the agency’s one-stop shop concept for its clients. Proof of this is the team’s latest transformation – a block of five dilapidated apartments in St Julian’s which have been expertly converted into bespoke rental apartments by the agency’s Home Interiors Division, then rented out in no time by the letting team with the block and the rentals being managed by the company’s Property Management Division.
The client’s brief was simple – to convert the apartments and obtain the maximum return with a conservative investment, whilst of course ensuring that the properties looked at their best. The investor also wanted to have as little involvement with managing the properties as possible, especially after the properties are put on the rental market.
This brief was not a first for Frank Salt Real Estate. With 50 years of experience in real estate, the Group was one of the very first to set up a property letting operation, the first estate agency in malta to offer Property Management services and the first estate agency in Malta to also offer its clients professional guidance when finishing and furnishing the property they would have purchased.
So how did the respective teams go about it? The first phase required the Home Interiors Division to sit down with the client and discuss how to transform the older type properties into modern homes reflecting today’s tenants’ expectations. The conversion involved minor structural changes to modernise the building. New floor plans and furniture layouts were drawn out and proposed to the client before proceeding to carry out the works required in the shortest time possible.
‘We offered design ideas to create a better use of space whilst keeping a functional living environment for the prospective tenants, whilst keeping costs as low as possible,’ says Leonard, a member of the Home Interiors team. ‘We not only had to bring out the best the properties had to offer, but work within a tight budget and within short timeframes’.
Admittedly, the coordination of the various trades people involved is a daunting task regardless of the scale of the project, but with the right (expert) help, most of the conventional headaches can be avoided. Frank Salt Real Estate has been offering this turnkey service for over 16 years and has today garnered a reputation for a timely execution of any project whilst ensuring that budgets are met.
The division’s client base is predominantly existing Frank Salt Real Estate clients who would have purchased a property through the agency, with a mix of both local investors as well as investors from overseas.
Regardless of who the client is, Frank Salt Real Estate’s Home Interiors ethos revolves around providing a professional and ethical service – always keeping its clients updated with what is happening and what will follow next.
“Clients know that our team are passionate and target oriented, whatever the nature of the project. We treat each project as if it were our own. We are just as excited to see the end results as they are!” says director Grahame Salt.
Once all furniture was in place and the finishing touches added, the agency lost no time to start promoting the properties and find suitable tenants. Professional photography was taken, a marketing plan was executed and the requests for viewings started rolling in. The strong letting team that the agency operates succeeded to rent out all five apartments in less than 6 weeks.
The properties are now managed by the firm’s Property Management division. Set up more than 20 years ago, the division is one of the largest in its field with a 10+ team of handymen and executives who handle just about anything for their assigned properties. This includes a dedicated handyman service, collection of rent due, management and payment of bills, coordinating home insurance requirements, cleaning service and more.
For property owners who want to maximise on their investment without getting involved in the day to day management or sourcing and then looking after tenants, Frank Salt Real Estate’s services are a no brainer. The Group offers a full hands-on management and rental service.
Your property is in safe hands, looked after by a responsible team of people who genuinely care about what they do”, says Bronia, Property Division Manager. ‘We are motivated to help you increase your rental income, and together we will plan the best approach to achieve this,’ adds Philippa, Property Letting Manager.
