ventanamagazine.com
Author: Roger Vales & Diego Garcia
One of the key decision-making factors when considering and investment in a foreign country is to have someone you can rely on to solve all of the different aspects of owning a property while you are hundreds or thousands of miles away. This is when Property Managers come into the picture.
Property management is the operation of real estate, the range of functions that a manager does, include but are not limited to: maintenance, provision of services, supervision of staff employed for services, payment of outgoings, payment of property taxes , together with negotiations with tenants and prospective tenants and the collection of rents.
Finding a good property manager could be the difference of you truly enjoying your second home or vacation rental property or having a very disappointing experience. Imagine coming to your beautiful new condo on the beach in Mexico and dealing with receiving furniture, installing satellite tv or cable, internet and not being able to communicate with providers because you do not speak Spanish or having to wait for hours when you could be at the beach relaxing.
If you do not have someone taking care of your property, on your second visit to your condo to hopefully relax because your first trip you worked more than you would have wanted to, you find that there is mold everywhere, your plants are dead, and you have no hot water, so you spend your “vacation” working and fixing problems so maybe, just maybe on your next trip you will be able to relax and enjoy.
Once you have a property manager with the local knowledge you will not only feel more comfortable with going forward with your investment, but will also have the peace of mind that you will not need to deal with any of the problems yourself, and when you arrive to your house you will find it in pristine condition. Additional benefits of having a property manager could be having a housekeeping service during your stay, concierge services, airport pick up, etc.
If you are using your property for vacation rentals most property management companies provide the service of offering your property in the vacation rental market, but not all of them have the infrastructure to aggressively market your property and provide hotel like services to the vacation rental guests. Although renting your property could be just to have some money in return to pay the expenses, paying the mortgage or making a business out of it, it is important to consider the infrastructure behind the property management company to truly understand their capabilities and therefore make a wise decision.
Having a property manager will also help to increase the value of your Real Estate, because a well maintained property with an attractive vacation rental record will make it a strong candidate for an easy sale.
No comments:
Post a Comment