Property Management in New Delhi-India Coursework

Property Management in New Delhi-India - Coursework Example According to the economic time's report, DFL- a real estate developer in New Delhi-India, is planning to outsource property management to third parties. It is close to coming into agreement and signing a contract with some companies to manage its commercial and retail spaces. The DFL enjoys ownership of huge commercial and retail space in the Indian capital and outside. From these properties, they earn good revenue that enables them to run its activities. Despite the huge revenues, they have accrued a debt which they have been trying to reduce by selling non-core assets (Sharma, 2013). Transfer of property management to third parties has several advantages accrued. It will facilitate the addition of value to the existing property, which can be achieved through proper maintenance of the buildings. This will, in turn, save the reputation of the property developer which is at risk (Sharma, 2013). Leasing, remittance or statutory dues and other related areas facilitate services for the property management. This will help real estate investors manage their assets without overdependence from family and/or friends. The transfer has also encouraged small parties and companies to capitalize on the opportunity to invest in specific asset category, hence thereof, earning periodical income. Above all, it will help salvage the debt shadow that they are currently being covered in (Sharma, 2013). On the coins other side, acts such as leasing or resale of buildings would sound costly to the real estate provider. For instance, an old building sold will not have the same income as when the building would have been renovated and rented to a tenant. Also leasing an apartment may end up in the hands of the wrong company. Such companies would provide fewer quality services as expected, which will, in turn, tarnish the name of the real owner. In addition, leasing or selling a property will, in the long run, result in a reduction of the company's revenues.