How to Maintain Property From Abroad
Category Advice
Buying property overseas to use as a holiday home, or to hold as a spot for future retirement, is a worthy investment! That being said, property management is a challenge enough from the same town, so how do you take on a task so demanding from across the world? It's possible!
In order to avoid getting stuck in a big management mess that is out of your reach, you need to know the types of management to get in order, being rental management and property management:
Rental management
Rental maintenance ultimately involves long-term tenant management.
You would need to get someone trustworthy in the area to market your property and find a suitable tenant. Thereafter, they are responsible for collecting the property's deposit and monthly rent as it's due. If damage or missing property is reported once a tenant leaves, the manager will also collect the compensation.
Property management
You will also need someone to manage your tangible property and its utilities.
If it's not being taken care of by the tenant, someone will need to physically pay the utility and tax bills. The manager will also oversee maintenance and repairs on the property, and report to either the rental manager, or you as the landlord, any damage done by the tenant.
If you've decided your property will do best as a short-term rental, a property manager will need to be there to check your guests in and out on a regular basis, making sure the property is clean and up-to-standard. This will be more time-consuming than renting out your property long-term, which would only require someone to be available and responsive at the tenant's request.
There isn't a great deal you will be able to do yourself from abroad, so hiring someone to take care of the management on your behalf is necessary.
Reach out to us for your property management needs in Cape Town, Johannesburg, and their surroundings!
Author: SApropety.com
