The Master's thesis focuses on business plan of a company operating in property management. Theoretical part defines business plan itself, his functions and evaluation criterion. The greatest emphasis is placed on structure of the business plan. The practical part is based on theoretical assumptions. Business plan captures the major aspects of starting a property management company. Practical part is focused on product description, it's competitive advantage, marketing and financial analysis and project viability. Project viability is shown in three different options of progress.

The tool due diligence is used to analyze different aspects in a potential investment. Due diligence started to apply in connection to real estate investments in Sweden twenty five years ago. Gradually the connection between real estate investments and due diligence became more frequent. Today is due diligence performed ordinary in connection with real estate investments. The designated purpose with a due diligence is to analyze relevant aspects who is connected to the success of the investment. In a due diligence process several actors are involved to perform a specific due diligence. Professionals who are involved in the process can be accountants, lawyers, technical consultants with targeted knowledge of specific areas of property investments. The purpose of this study is to describe how the part who attempts to acquire a residential property applies due diligence and the expectations connected to the tool. Totally the study contains five interviews with actors who are connected to property investments. The theoretical part of the study is connected to due diligence and aspects who applies in property investments.The results of the study indicates that due diligence in connection to residential acquisition is object adapted after the properties characteristics and opportunities. The study also indicates that the due diligence isn’t a predetermined process who applies a regular pattern. Instead the process in reality is applied after the client’s preferences. / <p>Validerat; 20160621 (global_studentproject_submitter)</p>

Some rental property owners lack risk management strategies that enable them to budget for sustainable profitability. This study provides rental property owners with risk management strategies for sustainable profitability to maintain business stability during market volatility and create stable, well-maintained housing for tenants. A mini ethnographic case study was conducted to determine the key risk management budgeting strategies rental property owners in the greater Seattle area have used to achieve sustainable profitability for at least 10 years. Enterprise risk management was applied to assess the role risk played in small rental property businesses and budgeting for sustainable profitability. Participant observation, interviews, and document review were conducted with rental property owners who had achieved sustainable profitability for at least 10 years. Data analysis software was leveraged to code the data and identify 4 key risk management budgeting strategies that contributed to sustainable profitability. The rental property owners included these 4 risk management budgeting strategies into their business: incorporating risk identification, response, and monitoring into firm strategy; cultivating a risk management network that effectively enabled them to mitigate risk; risk response to industry regulations; and creating a positive social change impact. Building on the results, 4 models of risk management budgeting were created for rental property owners searching for strategies to achieve sustainable profitability. The rental property owners in the study applied these 4 risk management budgeting strategies to achieve sustainable profitability and contribute to positive social change such as improving the well-being of tenants and communities.

Syftet med detta arbete är att undersöka vilka faktorer som påverkar ett investeringsbeslut på den svenska samt den spanska fastighetsmarknaden med hänsyn till ekonomi, juridik, fysiska egenskaper och läge samt finansiering. För att  bedöma den ekonomiska lönsamheten kommer vi att göra en kassaflödesanalys för en utvald hyresfastighet på respektive marknad. Tillvägagångssättet för arbetet var att göra en undersökning där vi med bakgrund i den spanska och den svenska fastighetsmarknaden redogör för konsekvenserna av finanskrisen 2008, nuläget och framtiden. Fokus ligger på hyresmarknaden, men även ekonomin i stort behandlas. Fastighetsvärderingens grunder har redogjorts liksom resultatet från en enkätundersökning vilken behandlar privatpersoners fastighetsköp i Spanien, för att undersöka vilka faktorer som är betydande vid en fastighetsinvestering. En mäklare stationerad i Torrevieja från Fastighetsbyrån har bistått oss med information under arbetets gång.  Ekonomiska faktorer är det som i störst grad påverkar en investering i Spanien enligt svar från enkäten. Andra värdepåverkande faktorer, såsom klimat, läge och skick har också stor betydelse för investeringen.  Resultatet av kassaflödesanalysen visar att det är lönsamt att investera i en hyresfastighet i Spanien likväl som i Sverige, men att utfallet är känsligt för förändringar. Faktorer som bolåneränta, amorteringstid, avkastningskrav på eget kapital och vakansgrad är de som påverkar utfallet i störst grad. / The purpose of this work is to investigate the factors that influence an investment decision onthe Swedish and Spanish real estate market considering economic, legal, physical propertiesand location as well as financing. To assess the economic profitability, will we make aanalysis of the cash flow for a selected rental property on each market.The approach for the work has been to do a background survey of the Swedish and Spanishreal estate markets, where we have looked at the years during the financial crisis, the presentand the future. The basis of the property valuation will be described, as well as the resultfrom a survey that deals with private property purchases in Spain, to investigate what factorsaffect a real estate investment. A real estate agent from Fastighetsbyrån in Torrevieja hasbeen given us information continuously about the Spanish market throughout this work.According to the survey the factors that affected the investment the most were the economicalfactors. Other value affecting factors like climate, location, condition also have a significantmeaning on the investment decision.The result of the cash flow analysis shows that it is profitable to invest in both Spain andSweden, but that the outcome is delicate for changes. Factors like home mortgage,amortization time, rate of return och equity and vacancy are those that affect the outcome themost.

Den svenska fastighetsmarknaden har trots sina upp- och nedgångar varit relativt stadig under åren, fram till att coronapandemin drabbade landet. Marknaden drabbades av högre osäkerhetsnivåer och vakanserna ökade för flera fastighetssegment. Syftet med uppsatsen var att undersöka hur tre utvalda fastighetsbolag gick till väga vid värdering av sina avkastningsfastigheter under pandemin. Vidare undersöktes även de ökade vakanserna som var en konsekvens av pandemin, och hur bolagen påverkades av dessa. Avslutningsvis tydliggjordes lärdomarna som bolagen fick under pandemin, och hur dessa kommer tillämpas i framtida fastighetsvärdering. Med hjälp av semistrukturerade intervjuer fastställde studien att den praktiska värderingen var oförändrad under pandemin. Däremot uppkom högre osäkerhetsnivåer, vilket innebar att bevis på marknaden behövde inväntas innan förändringar gjordes i värderingen. Hyresgästernas betalningsförmåga var ännu en osäkerhet, men genom att inkludera statens coronabidrag i kalkylerna uppnåddes fortsatt realistiska resultat. Vidare tog bolagen hänsyn till vakanser för de fastighetssegment som påverkades av dem mest. Kunskapen implementerades dock på olika sätt, där ett bolag räknade med fortsatta hyresintäkter medan ett annat gjorde avdrag. Slutligen fastställdes det att användning av relevanta jämförelseobjekt, undvikande att skriva ned fastighetsvärden innan bevis på marknaden kan stödja antagandena och god kontakt med branschkollegor är de lärdomarna som bolagen kommer tillämpa i framtiden. / Despite its ups and downs, the Swedish real estate market has been relatively stable over the years, until the corona pandemic hit the country. The market was affected by higher levels of uncertainty and vacancies increased for several property segments. The purpose of the essay was to investigate how three selected real estate companies proceeded in valuing their rental properties during the pandemic. Furthermore, the increased vacancies were also examined, and how the companies were affected by these. Finally, the lessons learned from the companies during the pandemic were clarified, and how these will be applied in future property valuation. Using semi-structured interviews, the study established that the practical valuation was unchanged during the pandemic. On the other hand, higher levels of uncertainty arose, which meant that evidence on the market needed to be awaited before changes were made to the valuation. The tenants' ability to pay rent was another uncertainty, but by including the state's corona contribution in the calculations, continued realistic results were achieved. Furthermore, the companies took into account vacancies for the property segments that were most affected by them. However, the knowledge was implemented in different ways, where one company counted on continued rental income while another made deductions. Finally, it was established that the use of relevant comparative objects, avoiding writing down property values before evidence on the market can support the assumptions and good contact with industry colleagues are the lessons that the companies will apply in the future.

Under åren 2019 - 2021 uppgick den totala transaktionsvolymen för hyreshusenheter, inklusive portföljer med minst en fastighet taxerad som hyreshusenhet, till ett värde om  562 324 782 kronor. 71% av transaktionerna genomfördes genom bolagstransaktioner och 29% med lagfart. Att paketera fastigheter i bolag inför försäljning är ett mycket vanligt förfarande på den svenska fastighetsmarknaden. Den ökade andelen av transaktioner genom bolag beror till stor del på en justering i Inkomstskattelagen (1999:1229) som möjliggjorde skattefri försäljning av näringsbetingade andelar. Nackdelen med försäljning genom bolag är att informationen som offentliggörs vid en bolagsöverlåtelse är mycket begränsad. Den bristande transparensen resulterar i problem vid bland annat förberedelsearbetet inför fastighetstaxering och vid ortsprisanalyser generellt. Syftet med studien är att analysera vilka faktorer som påverkar valet av överlåtelseform samt att undersöka hur transparensen för paketerade fastighetstransaktioner kan ökas.   Examensarbetet baserades på kvantitativ såväl som kvalitativ datainsamling. Data analyserades sedan för att hitta samband och avvikelser. Studiens resultat bekräftade att bolagsöverlåtelser är det dominerande förfarandet när köpeskillingen är hög, när ett köp avser flera fastigheter samt när den säljande aktören är ett noterat bolag, en fastighetsutvecklare, ett investmentbolag eller privat fastighetsbolag. Vidare visade resultatet att bolagstransaktioner är ett förfarande som sker i hela landet och inte enbart i Sveriges storstadsregioner.    För att hantera problematiken kring den bristande transparensen bör Lantmäteriet tillsammans med Skatteverket undersöka möjligheterna för att inkludera bolagstransaktioner i deras nuvarande system inför fastighetstaxering. Detta för att Skatteverket och Lantmäteriet ska kunna värdera taxeringsenheter trots att de lagfarna köpen fortsätter att minska. För att få tillgång till information som inte offentliggörs är ett förslag att Lantmäteriet inför fastighetstaxering upphandlar fler externa värderare alternativt koordinerar ett samarbete mellan värderare. För myndigheter är den bristande informationstillgängligheten ofta ett problem, medan det anses vara en konkurrensfördel för många rådgivare. Det är således svårt att hitta lösningar som är gynnsamma för samtliga aktörer. I slutändan krävs det en politisk vilja och tydliga initiativ från myndigheterna för att förändra situationen på fastighetsmarknaden. / During the years 2019 – 2021, the total transaction volume for rental properties units, including portfolios with at least one property taxed as a rental property unit, amounted to a value of 562 324 782 SEK. 71% of the transactions were carried out as corporate transactions and 29% as legal purchases. Packaging properties in companies prior to sale is a common procedure in the Swedish real estate market. The increased share of transactions through companies is largely due to an amendment in the Income Tax Act (1999: 1229) which enabled tax-free sales of business-related shares. A disadvantage of corporate transactions is that the information published is limited. The lack of transparency results in problems in the preparatory work for property taxation and in comparable sales methods in general. The purpose of the study is to analyze which factors influence the choice of transaction type and to investigate how the transparency of packaged real estate transactions can be increased.  The degree project has been carried out with a quantitative as well as qualitative data collection and then analyzed to find connections and deviations. The results of the study can confirm that company transactions are the dominant procedure when the purchase price is high, when a purchase includes several properties and when the selling actor is a listed company, a property developer, an investment company, or a private real estate company. Furthermore, the results show that company transactions take place throughout the country, not only in Sweden’s metropolitan regions.   To deal with the lack of transparency, Lantmäteriet and the Swedish Tax Agency should investigate the possibilities of including company transactions in their current system for property taxation. This to be able to carry out the preparatory work even if the legal purchases continue to decrease. To gain access to information that is not published, a proposal is that Lantmäteriet procures more external valuers prior to property taxation or alternatively coordinate a collaboration between the valuers. For authorities, the lack of access to market information is problematic, while it is a competitive advantage for advisers. It is thus difficult to find solutions that is attractive to all actors. In the end, a political will and clear initiatives from the authorities are required to change the situation on the real estate market.

The thesis provides basic information on the activities of real estate agent, including accounting and tax solutions for selected topics. The thesis is divided into four chapters. The first chapter describes the real estate market with its basic elements. The second chapter examines the regulation of real estate activities in the Czech Republic and selected legislation relating to contracts in real estate. The section focusing on accounting transactions are shown as a result of the major real estate services, namely, the purchase, sale, rental properties and brokering. The last chapter deals with tax issues, which are selected from the provisions relating to real estate activities.

Bakgrund: COVID-19-pandemin har kommit att påverka hela samhället och även fastighetsägarna. På grund av alltmer hemmavarande kom hemmet att få nya användningsområden och en större betydelse vilket har resulterat i förändrade boendepreferenser. På grund av dessa förändrade mönster hos kunder har fastighetsägarna mött nya utmaningar. Men hur dessa utmaningar har sett ut och vad det har inneburit för fastighetsägarna är ännu outforskat.  Syfte: Syftet med denna uppsats är att undersöka hur fastighetsägare med hyresbostadsbestånd har påverkats av COVID-19-pandemin.  Metod: Undersökningen har antagit en kvalitativ ansats där semistrukturerade intervjuer har legat till grund för datainsamlingen.   Resultat: Resultaten visar på hur kostnader kopplat till fastigheterna ökade, däribland vattenförbrukningen, städkostnaderna och sophanteringen. Vidare visar resultaten hur kundärendena kraftigt ökade under COVID-19-pandemin. Kundärendena kom att bestå av felanmälningar, rivnings- och underhållsanmälningar samt störningsärenden. För att möta kundernas ökade kontaktbehov kom digitaliseringen att få ett uppsving då mycket av tidigare dagligt arbete, kommunikation och service som har skett fysisk vilket resulterade i att det nu kom att behöva ersättas med digitala varianter under COVID-19-pandemin. Resultaten visar också på hur mycket av de förändringar som ägt rum kan förklaras av människans förändrade beteenden vilket grundar sig i att människan är ett flockdjur och är högst beroende av sin omgivning. / Background: The COVID-19-pandemic has come to affect the whole community including property owners. Due to the increasing number of people being at home, the home has been giving new uses and a bigger important, which has resulted in changed housing performances. Due to the this changed patterns at customers, property owners have faced new challenges. But what these challenges have looked like and what it has meant for property owners is still unexplored.    Purpose: The purpose of this thesis is to investigate how property owners with rental housing stocks have been affected by the COVID-19-panddemic.  Method: The survey has adopted a quality approach where semi-structed interviews have been the bases for the data collection.  Results: The results show how costs associated with properties increased, including water consumption, cleaning costs and waste management. Furthermore, the results show how costumer cases sharply increased during the COVID-19-pandemic. The costumer cases came to consist of fault reports, demolition and maintenance reports and disturbance cases. To meet customer’ increase contact needs, digitalization got a boost as match of previously daily work, communication and service that have taken place physically, which resulted in it now having to be replaced with digital variants during the COVID-19-pandemic.     The results also show how much of the changes that have taken place can be explained by the people’s changed behaviours which are based on the fact that human is a herd animal and it is highly dependent on it is environment.