Suadiye is among the most valuable stretches of the Bağdat Caddesi corridor. In recent years its older low-rise blocks have given way to boutique developments: buildings of six to twelve units, highly equipped.
Why management differs in a small building
In a boutique development the common costs are divided among far fewer people. A lift service, a generator fault or a facade repair barely registers in the budget of a sixty-flat building, but is felt immediately in one with eight.
Two consequences follow. First, unplanned spending is unforgiving: provisions must be set aside in advance for major items. Second, owners follow every lira closely, and they are entirely right to.
In these buildings we build the annual budget to include a provision for major repairs and report each cost line separately.
When the owner does not live in the building
In Suadiye a good share of flats are held as investments, or the owner spends part of the year abroad. That creates two practical problems.
Meeting quorums. Assemblies struggle to reach the required numbers, so proper notice for a second meeting and a sound proxy arrangement become important.
Access to information. An owner who is not in the building cannot see the work with their own eyes. Reporting therefore has to be remote and legible. In the buildings we manage, owners can see their balance, their payments and the building’s income and expense statement through NovaBina from wherever they are.
High specification, high maintenance
Boutique developments combine generators, smart-building systems, underground parking and landscaping. Each of these has its own warranty period and service calendar; when they are not tracked, a fault still under warranty ends up being paid for.