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Property management

An attractive and interesting scheme in order to increase your income is as follow. To purchase a property and to rent it out in order to ensure stable monthly income. Taken into account the explosive numbers of tourists coming to Pattaya and the growing rental demand, this scheme is extremely profitable.

Nevertheless it gives rise to the following concerns: somebody has to monitor the property in your absence, regularly pay maintenance fees, look for lodgers and solve further innumerous small issues, while you have staying abroad.

The solution to the above is to hire professional managers. Nowadays many developers offer property management and rental aid as a free bonus. A specially founded property management company will take care of your purchase – keep it clean, rent it out on your request and even re-sell it.

For this purpose, many developers hire well-renowned real-estate agencies like Colliers, Remax, CBRE, Savills, etc. The latter have offices all over the world and run own client databases, which will then include your apartment as well.

Some small real-estate agencies also provide this service. The owner receives accounts on the apartment state and monthly or yearly rental payments with a fee subtracted in favor of the company-mediator.

As a rule, the fee comprises at least 20% of the yearly profit, but there are still agencies on the market that ask just 8-10%.

There are also companies that conclude agreements with the purchase on the given period of time. The guaranteed profit from the rented apartment equals to 10% of the apartment cost annually.

What does the service include? Absolutely everything. A good company operates on the turn-key basis. The renter may not visit Thailand for years, but the company will transfer money abroad, take care of regular maintenance fees, will find a lodger, will renew inner furnishing and finishing of the apartment. When the tenants left, the company will renovate the apartment with an aid of the deposit fee. Do not forget that the management company can also assist in reselling the apartment and transfer the money abroad.

By no means unimportant is the fact that the company is liable and responsible for your apartments based on the concluded service contract. It makes a dramatic difference with just a good acquaintance of yours whom you asked to drop by your property once in a while. Professional management company will provide professional service!

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