Saturday, May 1, 2010

Property Management

Why should you engage the services of a professional property management company?

Most of us do lack the experience needed for the day-to-day management of a property, especially if it comes to property you own in a foreign country. Property managers know the rental market and can assist you to maximize your income. They will source and evaluate potential tenants and negotiate rental agreements according to local laws and regulations.

Property managers respond to the tenant's requests and coordinate and handle emergency and routine repairs and - above all- help you to avoid unnecessary repairs which will cut your expenses.

Property managers even offer to handle your taxes, determine profitability and present monthly statements on your rental income and expenses.

In Singapore the fees for this service depend on the number of units, type of property, location and any specific requirements from owners. Typically, for a 1 or 2 bedrooms apartment in prime district, the fees are about S$250 per month.

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