Welcome to Ma clef Property Managment Service
Ma Clef Property Management Services extends its professional Services to rental property owners with in the city of Addis Ababa, Ethiopia.
Ma Clef Property Management Services is proud to own this website, equally usable
- By tenants looking for property to rent within the city
- By rental property owners to post their vacancies or to get any possible professional, handymen, supliers of building material manufacturers or even better Universities and colleges where the art of building takes shape.
- Property owners living out of town can from time to time check out our page “Am I concerned” to follow local government newspaper posts in terms of property administration.
What is property management :
A slight historical overview: Property Management in Ethiopian context
Nearly yes. Oh no! that is really a short and mistaken answer. Properties in the privately run rental market are nationalized through Proclamation 47/70. These rented properties became under government ownership. Directives following the proclamation 47/70, put these nationalized residential properties under two distinctive jurisdiction: those set under Rental Housing Agency (RHA), at central government level and those commonly named “Kebele Houses” under local government authority and ownership. The nationalization created a paradox of ownership status by making of these properties, entities owned by everyone and nobody at the same time. So who is managing who’s property? Who is paying for the service? Who is taking care of the properties physical condition?
However, before generalizing one should admit the existence of one company that miraculously survived such national turmoil: Commercial Nominees. Commercial Nominees (CN) was established in 1965 by the then Commercial Bank of Ethiopia Sh. Co. and Mortgage Bank Of Ethiopia that are known today as Commercial Bank Of Ethiopia (CBE) and the Construction and Business Bank (CBB). CN is therefore founded and owned by the two banks but operating as an independent business entity. CN was administering properties owned by these two Banks and those these banks acquire from their bad debtors.
As we all know, the last regime was ruling with socialism ideology, discouraging private ownership and limiting the private sector. Besides, as it had nationalized extra houses, those set into the rental market, thus there was double ban in freezing or annulling the property management service as a business sector. Not only the local private economy was nearly absent, but also no fertile ground for property management services to be carried out in the country.
Later on the introduction of the mixed economy, then the current government commitment to its market led economy… are two important elements that encouraged the proliferation of the … gave dynamism to the development of privately owned properties The diaspora encouraged by relative political stability and economic dvlpt to invest in its homeland The first generation to inherit property after the nationalization…