REAL ESTATE MANAGEMENT
The real estate market experienced significant growth in the 2000s. During this decade, banks were granting loans to individuals and businesses very easily for the purpose of purchasing properties. The situation became uncontrollable; banks were granting loans very easily without checking whether the individual met the requirements to obtain the loan. Consequently, by 2008-2009, on the one hand, 84% of Greeks owned their homes, while on the other hand, 56% of residents had additional income from properties.
Of course, Greeks’ predisposition has always been towards acquiring real estate. Throughout these years, there have been both small and large fortunes mainly composed of real estate. Despite property management being a challenging matter, until recently, there were no companies exclusively dedicated to managing third-party real estate.
Certainly the exploitation of a small estate and its rental procedure might be easy and one could not understand the reason why he would apply to a specialized company of real estate management. However, even for these small properties, engaging specialized property management companies would result in better and more efficient utilization of the property.
There are cases, however, where property management is difficult and complex. Many co-owners are involved in a property, making it challenging for them to manage it. There are individual owners, natural persons, who are involved with legal entities of the public sector. There are properties owned by relatives or heirs who cannot communicate effectively, resulting in a lack of initiative to utilize their assets. Another category of owners includes Greeks living abroad—expatriates—or foreigners who have invested in properties in Greece.
For them is very difficult to manage their property from abroad and mostly to exploit it efficiently.
Finally, a significant category of people—property owners for whom managing their real estate is difficult—are the elderly and seniors. In previous years, all of the above individuals dealt with their problems either by turning to relatives for help, seeking assistance from friendly acquaintances, or, in more complex cases, consulting with lawyer friends when they couldn’t handle the situation on their own.
The rapid reconstruction of properties in 2005, followed by the subsequent crisis, created an urgent need for the establishment of specialized property management companies. These companies would solely focus on property management and not engage in any other business. G-Epsilon was founded in 2006 by individuals with knowledge and experience in the real estate market. They created a company with the aim of covering the entire spectrum of property management and providing all the services required for effective property management. G-Epsilon handles financially, legally, technically, and insurance-wise all the processes necessary to support the proper exploitation of a property.
G-Epsilon manages its clients’ properties with professional diligence and delivers the best possible results for its owner clients.
G-Epsilon takes care of property management, preserves it, and ensures its optimal utilization and exploitation.