Residential Property Management in Singapore
You can add great value to your rental property investments in Singapore by hiring a professional property manager. This is the reason why so many experienced property investors agree that working with a property management company is the best decision.
A Property Manager can be a firm or an individual who may look after a group of properties, such as a block of HDB flats or condo, on behalf of a landlord or a management company.
Some responsibilities of a Property Manager include managing property for the benefit of landlord, providing services to leaseholders and tenants, collecting monies from leaseholders and tenants including service charges and rents, as well as handling general property maintenance.
Now, let’s dive into some of the most important benefits that landlords will receive by working with a Property Manager.
Tenant screening in Singapore can be a mind boggling process, and if you don’t have adequate involvement in the real estate industry, you might end up picking up a terrible tenant.
The main problem with bad tenants is that it can be quite difficult to make them leave your property. Good property management companies have a reliable and verified screening process that helps them select tenants who will:
- Pay long-term rent
- Pay rent on time
- Minimise the wear and tear of the property
- Cause minimal problems
A Property Manager that has been in the industry for a long time, has seen thousands of tenant applications. This will help them dig into facts about the potential tenants quicker and identify red flags.
If you allow a Property Manager to handle the tenant screening, you are also avoiding rental scams that are directed at property owners.
Additionally, you also ensure that you won’t have to deal with time-consuming discrimination lawsuits. Avoiding bad tenants, lawsuits, and scams is by far one of the main benefits that come with hiring a professional Property Manager.
More efficient rental fees collection
Handling the collection of rent and late fees is an extremely important aspect of property management. To ensure consistent and reliable cash flow, rent must be collected on time every month, and it’s important that tenants understand that.
By hiring a professional Property Manager, the landlord puts a buffer between themselves and tenants, allowing them to be the bad cop who has to listen to tenants’ excuses, collect rent, and handle evictions if necessary.
Being too permissive, tenants may, walk over you. It should be made clear how important each clause in the lease is and if breach it there can be consequences.
Lower repair and maintenance costs
Tenants are always happy if you offer them good property maintenance, not to mention that by doing that you also preserve the value of your assets. By hiring a Property Manager, you gain access to professional maintenance and a network of licensed, insured, and bonded contractors. These contractors are trustworthy and have been vetted for quality work and good pricing. This can save you a lot of money compared to hiring someone from the yellow pages.
Additionally, a property management company will also be able to get discounts on account of their great volume of managed properties.
Increase the value of your rental property
By identifying and repairing any maintenance issues early on, you avoid larger and more expensive problems. A professional Property Manager will tell you that the key to increasing the value of your property is preventive maintenance.
This requires routine maintenance checks and inspections, a written maintenance schedule, and detailed documentation. A Property Manager may also offer you valuable feedback and suggestions on upgrades and modifications that the tenants prefer.
So, how can we help?
Whether you are a landlord looking for someone to manage your property or a management company owned by the leaseholders wishing to appoint a manager to manage their properties, we can put you in touch with our Property Managers who specialise in residential property management.
Our Property Managers are regulated, adhere to Rules of Conduct and have Complaints handling procedures in place.
For more information regarding our Property Management service, please contact us. We will try our best to reply as soon as possible!
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