What is Property Management?
Buying a property to put in the rental market is still one of the best investments you can make, but the difficulties of tenant selection and the day-to-day management challenges deter many prospective landlords.
There are so many time-consuming and complex issues:
- How do you confidently select tenants?
- What about rent collection and inspecting the property regularly?
- How do you set rentals to attract good tenants and ensure a fair return?
- Who is responsible for routine maintenance?
- Tenant selection, rental collection, property inspections – we can take care of all of these aspects.
We recognise the importance of monitoring and managing your rental property to enhance its ongoing appreciation while maximising your short term returns. We have structured and well defined systems to provide consistency in service and deal with any problems quickly and efficiently.
By placing your property in the hands of Ping Property accredited Property Managers, you receive a total management service which will protect your investment and enhance its ongoing appreciation.
Frequently Asked Questions (FAQ)
Ping Property Management Package covers all our professional services in relation to renting your property. The services included in your Property Management Package are as follows:
- Drafting an advertisement of your property for internet advertising
- Comprehensive marketing of your property on Property Guru, 99.Co, SRX
- Arranging viewings
- Processing tenant applications and recommending appropriate tenants
- Arranging for the execution of Letter of Intent (LOI) & Tenancy Agreement (TA) with the successful applicant and ensuring all amounts due on lease execution have been paid
- Preparing property condition report & Inventory List at the time of entering into a TA
- Collection of rent on behalf of landlord
- Conducting periodic routine inspections of the property to ensure that the tenant is appropriately maintaining the property
- Arranging for maintenance and repairs as throughout the Tenancy period
- No upfront commission. We only get paid when Landlord gets paid
- We eyeball all rent payments
- We conduct routine inspections accompanied with a report after all inspections
- We can be your full proxy for the property
- Your property will be fully managed by us
- Landlord will receive monthly statement
- Landlord will receive an annual Financial Statement
- We are THE ONLY company who has a Property Management Phone Apps
Most importantly, lets that a look at what CEA stated:
The property agents (salesperson’s) role ended after a TA is signed. Any services rendered by salespersons after the signing of the TA will be out of goodwill. The salespersons are not obliged to help Landlord or Tenant in terms of payment of monthly rental or any other matters, unless there is a management contract signed between the Landlord and the salesperson.
However, CEA note that many salespersons do assist the Tenant/Landlord (depending on which party the salesperson is representing) with issues pertaining to the tenancy period so as to maintain cordial relationship with their client.
- They do not have the resources
- They do not have the knowledge or know how
- Property Management is taking up too much of their time
All other fees:
- Letting fee (one-off when new tenant is procured) S$200
- Advertising fee (one-off when new tenant is procured) S$200
- Lease renewal fee S$100