Carolina Burg, CEO of JFL Living, explains how the operation of the manager who has properties whose rental packages can exceed R$ 30 thousand per month works.
SÃO PAULO – Starting the operation of a company in the midst of an economic crisis is not an easy task. Although the opportunities may increase precisely in these contexts, having the courage to face a recessive environment, of low confidence and investments is for a few.
But that’s exactly what JFL Realty, a real estate developer and asset manager, decided to do when it took its first step five years ago.
“We started to buy assets in 2015, when talking about the real estate market was a bad word, talking about real estate investment was a bad word, talking about leverage for the sector was a bad word. What we didn’t imagine was that this opportunity would get much bigger ”, says Carolina Burg, CEO of JFL Living.
Long-stay brand of JFL Reality, JFL Living operates in the high-end residential market, currently only in São Paulo.
The executive participated in the fifth episode of the “Banco Imobiliário” podcast, in which she explained how this market is structured today, where her properties are, what the cost of rental packages is and how she sees the competition.
With a performance alongside the partners Jorge Felipe Lemann, son of businessman Jorge Paulo Lemann, and Guilherme Vilazante, Carolina says that the price of entry into the company corresponds to R$ 6,500 per month, in the case of a 36-meter apartment squares.
There are units, however, of more than 200 meters, with rental prices that accompany the increase in size, exceeding R $ 30 thousand per month.
The idea, says the executive, is that people feel at home. Therefore, the packages, or occupancy costs as Carolina names, include rent, condominium, property tax and electricity and water bills, as well as bed linen, cutlery, breakfast, cleaning service, internet and laundry, among others.
This is a typical residential lease agreement, with a minimum stay period of one month.
The portfolio totals more than 600 units in residential properties for rent, with varied profiles of tenants, such as newly separated, newlyweds and people outside São Paulo who come to the city more than ten times a month.
With a market in recovery, Carolina says that she worries about the return of euphoria and not being able to buy assets with the same profitability.
In addition to pursuing good properties, the company plans to hold an IPO or set up a real estate fund, which could allow new investors to enter the projects.