Finding a capable and trustworthy property manager can greatly impact how profitable your real estate investment is and how long the value of your home is maintained. A property manager’s role is to maximize your property’s potential and reduce the headaches associated with hands-on management. It can also relieve you of the burden of managing daily operations, tenant relations, and law compliance. In this article, we will discuss how to find a property manager in the Philippines.
Why you need a property manager
Being a landlord involves more than just owning a property, especially when you have multiple tenants or properties spread out over a wider geographical area. Numerous responsibilities come with property ownership, making it challenging to manage everything alone. Therefore, employing an efficient property manager becomes critical. Here are five reasons why you need a property manager in the Philippines:
- Managing tenants: Property managers serve as the main contact point for tenants, managing all interactions, leasing activities, and property upkeep.
- Streamlining rent collection: Property managers strive for efficient rent collection, providing various payment options, and tracking all transactions systematically.
- Ensuring property upkeep: They ensure good condition and safety of the property by conducting regular inspections, coordinating repairs, and handling contractor relationships.
- Upholding legal obligations: Property managers ensure compliance with rental laws by drafting lease documents, managing evictions when necessary, and keeping detailed records to secure both tenant and landlord rights.
- Preparing for emergencies: Property managers are ready to handle emergencies, keeping tenants safe and properties secure during unexpected events.
How to find a property manager in the Philippines?
Selecting a competent property manager is crucial for the success of your real estate investment. With numerous options available in the market, it becomes essential to identify the best fit for your needs. Here are three ways on how to find a property manager in the Philippines:
1. Online platforms
Property management services are listed on websites such as Lamudi, Dot Property, and Own Property Abroad, which are also used for property sales and rentals in the Philippines. You can look through the profiles of independent and company managers, as well as ratings and reviews left by previous property owners.
2. Real estate agencies
Contact prominent real estate agencies like KMC Savills, Inc. and Keller Williams Philippines. They often offer property management services or can recommend reliable professionals within their network.
3. Recommendations from other international investors
Engaging with other international investors in online forums, social media groups, or expat communities could yield useful advice and direct suggestions based on their personal experiences.
Tips for choosing a property manager in the Philippines
Managing a property in the Philippines can be challenging, especially for those new to real estate or not physically present. Therefore, choosing the right property manager is crucial. Here are three tips for choosing a property manager in the Philippines:
1. Understand the full scope of their services
Varying property management companies offer diverse services. Some offer comprehensive bookkeeping, while others focus more on transactions like depositing rent into international accounts. Your task is to understand what a property management company in the Philippines can provide so you can accurately compare them with competing companies. Look for a company that offers the specific services you require.
2. Prioritize checking references
Receiving recommendations from trusted individuals is always reassuring. This is why you should ask for references from the property management company. You can then contact other property owners they work with and hear their insights. While the company might lean towards suggesting happy customers, you could still gain more in-depth insights about potential challenges and other vital details that may not be readily available.
3. Ensure they can help you
A property management company in the Philippines may promote its services as outstanding, yet what truly matters is its ability to fulfill these promises. Verifying their competence in handling specific market segments and locations is essential. Question their ability to manage your property effectively if they have never managed similar properties. This consideration is particularly critical in the high-end segment, where tenants have a certain level of expectation for care and attention.
Get help with finding the best property manager in the Philippines
Are you looking for a property manager in the Philippines? Thanks to our extensive knowledge and local experience in the Philippine market, we can help with property management and other property-related matters, such as legal requirements, finding suitable properties, negotiating the best deals, and conducting due diligence.
For further information on how we can assist you, kindly drop your details below or email us at [email protected]. Let’s start working on your property success story today!
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Frequently Asked Questions (FAQs):
How much does a property manager in the Philippines cost?
The cost of hiring a property manager in the Philippines could range roughly between ₱ 30,000 ($540) to ₱ 60,000 ($1,080) per month.
How to find a reliable property manager in the Philippines?
To find a reliable property manager in the Philippines, explore online platforms, contact real estate agencies, and seek recommendations from other international investors.
Should I hire an individual property manager or a property management company?
The choice between hiring an individual property manager or a property management company in the Philippines largely depends on the scale of your property investment and the level of services and resources you require.
