Jul 26

When You Should Hire a Property Management Company

Real estate management companies can be the answer to a successful property management. However, their expertise doesn’t come cheap, and you might find the expenses associated with it unreasonable on the long run.

So, in order for you to know whether or not hiring a Singapore estate agent is necessary, consider the following factors we’ve discussed below.

    • You have a number of units for rent. Bear in mind that the more rental units you have, the more work it requires—from tenant billing to maintenance duties. When you hire a management company, they will be the one to execute the operations for you and, therefore, all you have to do is to supervise and wait for the deposits.

    • You live miles away from your property. If your rental building is located far from where you’re residing, you should consider hiring a management company, as it will be very difficult for you to deal with management operations from afar.
    • You have very limited time. If managing your property is not your only job, you may not have enough time to devote to address issues pertaining to your investment. Also, if you wish to grow your property rental business without affecting your current job, a good managing agent can do all the tasks for you, such as searching for properties on sale, improving your business structure, and arranging and financing renovations.

    • You’re not into hands-on management. Though many landlords like the challenge of finding quality tenants and doing all the management duties on their own, there are some who doesn’t want to get involved with the demanding day-to-day management of their rental property. If you’re one of the latter, hiring a property management company may be a good choice to keep your investment up and running.

    • You don’t want the employer accounting tasks. When maintaining a property, you will need to hire a number of people as your employees to make sure everything is well-covered. Therefore, the property manager in Singapore will need to handle their payroll and deal with other legal requirements. But if you hire an estate management company, which is an independent contractor, you spare yourself the headache from being an employer.

    • Your rental property is part of a housing program. Rental property owners under an affordable housing program follows a complicated set of rules in order to claim financial assistance, which may be in the form of tax credits, grants, or interest loans, in exchange for allowing low-incomers to rent their properties for a cheaper price. With so many rules and procedures to follow, it’s often worth using a managing agent to handle your investment under such housing programs.

Though using a management company is undeniably expensive, many property owners in Singapore still choose to employ their unmatched skills primarily because agents secure continuous flow of income and take off loads of work from their day-to-day schedule. By using a management company, everything associated with property rental, including marketing of units, dealing with tenants and prospects, handling maintenance issues, and even pursuing rental evictions, are well taken care of. The experiences and abilities of these professionals are brought into your business, giving you peace of mind that comes along with knowing that your property is in good hands.

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