JHI Properties currently manages an extensive portfolio of commercial property to a total value of approximately R50 billion, which includes office, retail, industrial and mixed-use property, while JHI Residential will focus on management of residential property.
"This is a natural progression for as collectively we already have extensive experience not only in managing commercial property, but in managing various mixed-use properties which include a residential component," says Thea Bezuidenhout, director of JHI Residential.
"We have already been awarded the management contract to manage ten properties for International Housing Solutions, an established company which develops community-central housing projects. These ten buildings comprise some 1 800 units - mainly providing student accommodation, and including some retail and other flats or lofts. While the buildings are all situated in the Johannesburg inner city, we plan to roll out our services nationwide as we grow the business. We are also exploring further opportunities in Pretoria, Durban and elsewhere in Africa - including Namibia."
Bezuidenhout says the services provided to International Housing Solutions include not only residential property management but also the leasing and letting of accommodation, the latter being outsourced to Mafadi Property Management, which focuses on the inner city.
"With regard to the student accommodation we are also handling maintenance of the facilities, arranging security and transport of students to and from nearby Wits University, collection of rentals, managing the trust account and keeping of management accounts on behalf of the landlord. The buildings are well positioned within easy reach of the University of Johannesburg and various colleges situated in Braamfontein," says. Bezuidenhout.
