These articles below can also be found in the June 2010 issue of Serviced Living Guide: Contents: Back to index   Smooth Operators There are many opportunities to invest in property. We discover a new way to break into the serviced apartments sector and reveal how to simplify the entire investment property management process.     With  the  recent  success  of  the  serviced apartment  sector  clear,  investing  in  this form of property  is also gaining  traction and there are several ways to do so. With a company such as Castle Asset Holdings investors are invited to buy  into single units while the company undertakes all  management  and  day-to-day  running.  Different from the traditional serviced apartment model, Castle acquires single units in existing buildings, rather than blocks.  It’s  a  strategy  that  has  allowed  continual growth, says Richard Elms, an Investment Property Consultant with  the group. Since  forming five years ago,  the  company  has  acquired  around  eight  new properties a month, for units that command between HK$10,000  –  HK$25,000  per  month.  Now  the company  is  ready  to  expand,  and  has  taken  over the Soho Boutique apartment brand, which supplies larger properties and bring in higher rents. Projected rentals offer a  typical net  return of  five-six per cent gross, after fees, says Elms. In the next two years, he is expecting that figure to rise to seven per cent. For  those  interested  in  converting  existing  blocks, there are obvious upsides. By taking on a complete offering rooms and common areas can be refurbished to match a common theme and standard. Concierge and  building  managers  are  always  on-site,  and operators have 24-hour  access  to  all  flats  –  vital  if tenants complain of a problem which originates in a different unit. And  for  those who want  larger  ownership without having  to  worry  about  day-to-day  challenges associated with renovating and running apartments, outsourcing is a viable option. Firms like CP Property Services  offer  tailor-made  asset  management packages  designed  to  maximise  the  value  and performance of an  investment property, and clients come to the company with a range of requests. “We typically begin by helping solve very practical issues first,”  says  CP  Property  Services’  Asset  Manager, Vincci  Young.  “These  could  range  from  collecting rent,  handling  contractor  issues,  fulfilling  statutory formalities or dealing with  tenant  requests  to name a  few,”  she  says. With  daily management  a  time-consuming  challenge,  a  dedicated  manager  can consolidate  enquiries  and  requests  simplifying  the whole  process.  Once  those  initial  structures  are in  place,  the  asset manager  can  begin  to  uncover hidden opportunities within, many of which are easily overlooked.  “Managing  a  property  investment  is  a  specialist task  and  requires  intimate  knowledge  of  the market  combined with  a  lot  of  care  and  attention. Any  strategic  or  tactical  compromise made  during this  management  process  typically  results  in  lost opportunities,” says Young. “Our made-to-measure management  approach  enables us  to  actively help our clients seek new opportunities and work towards realising the full potential of their asset.”