Good for Business, Latvia, Real Estate

Rigas namu parvaldnieks was also the largest company, in terms of turnover, in the entire property sector last year, informs LETA.

The other largest housing management companies in 2011 were Namu apsaimniekosana with LVL 5.94 million in turnover and Daugavpils dzivoklu un komunalas saimniecibas uznemums with LVL 4.46 million in turnover.

Speks-R posted LVL 4.22 million in turnover in 2011, Anhelika – LVL 3.85 million, Jurmalas namsaimnieks – LVL 3.6 million, YIT Tehsistem – LVL 3.56 million, Liepajas namu apsaimniekotajs – LVL 3.41 million, Cleanhouse – LVL 3.21 million, and Jelgavas nekustama ipasuma parvalde – LVL 2.76 million.

The report notes that after a number of small and medium-sized companies left the housing management business, it became more orderly. Nevertheless, the competition in this type of business is segmented – companies are interested only in houses that are in a comparatively good technical condition, and without debts.

Rigas namu parvaldnieks CEO Ervins Straupe informs the edition that there are several problems that are still hampering the work of housing management companies.

The first problem is that many apartment houses are built on land plots that belong to someone else, and the ensuing problems in the relations between apartment owners and the landlords. The other problem is the cumbersome procurement procedure, as a result the scheduled maintenance and renovation works often get delayed, informs Straupe.

Finally, the technical condition of many apartment buildings in Riga and their low energy efficiency is a pressing problem, and the housing management companies' limited opportunities to improve their condition, says Straupe.

As reported, the Latvian Business Report is a unique annual publication offering information about enterprises that account for 95% of all Latvian companies' turnover.

The report is based on companies' annual report. The report offers information about companies with annual turnover of over LVL 100,000. There are more than 20,000 such companies in Latvia altogether, and their total turnover in 2011 was over LVL 30 billion, which is 95% of the total turnover of Latvian companies in 2011.