AKOYA GLOBAL - Our Advantage

In Florida area, most of the residential units are either in a condo complex being managed by Home Owner Associations and professional management companies and, very old. The amount of monthly HOA fees reach up to 25% of potential rent income and has significant consideration in feasibility and ROI calculations of the purchase. In addition to all that, the 40 year inspection of all buildings currently bring in unbelievable amounts of assessments posted by Associations which are never considered and not possible to foresee during the purchase decision. Moreover, older buildings tend to require more maintenance for plumbing, electrical systems, roof, outer paint and isolation features and even sometimes foundation and structural improvements are required or mandated. Worth to mention here, cost of all renovations including all repairs and necessary replacements are mostly five-fold the cost of new construction and require more time, which causes rental income losses during maintenance.

Our investors simply take advantage of owning a brand new unit constructed as per the latest codes and standards by using higher quality material than used 50 years ago. Overall cost of construction is usually slightly more than buying an old unit however, all units are under contractors warranty for up to five years and not likely to require any maintenance for the first fifteen years. As long as the units are rented and not sold, their yearly tax is lower than an existing unit, insurance is not mandatory, rent income is far more than an old unit and free from HOA fees, assessments, and costly management fees.

On top of all above, renting the unit on short term basis on systems like AirBNB generates up to four times the normal income, however, most Home Owner Associations don't allow an unit within their jurisdiction to be rented for short term. Building a new stand alone unit or a new multi unit apartment complex without any restrictions to its use is an option our clients prefer to have.

For our clients who have a higher investment capability, we propose Self Storage construction. Self Storage units are highly demanded and their unit rents follow an increasing trend in the last ten years. People tend to rent a storage space whether they have money and want to open up congested space at their homes or they lose their job and need to shrink their lifestyle temporarily.

Self Storage buildings are faster to design and construct, have far less cost of unit area as they are simpler constructions. They require incredibly less maintenance, almost no man power, very low cost of utilities, considerably less yearly tax and insurance. Self Storage investment has the highest return of investment which is comparable to ROI of running a business most of the time, with the least effort and involvement from the investors side possible.

This sort of construction requires specialized types of contractual agreements, consultants, contractors, material vendors, mortgage brokers and subject to a complete different set of permits. Akoya Global already has one completed Self Storage unit construction from design to construction, dealing with all phases of designer assignment, obtaining approvals, tendering construction, managing contractor and its sub contractors, dealing with material selections, authority inspections, to obtaining occupational permits and handing over the unit.

Akoya Global offers complete Project/Contract/Schedule Management services with complete follow up during design, permitting and construction of assets.

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