Property Management for your Merida Rental
Why you need a property management company in Merida
A good property management company can easily become one of your greatest assets. If you own property in the Yucatan region and you aren’t living there on a regular basis (or even if you are) hiring a property management company will ensure your home is taken care of at all times. It can be hard to trust just anyone, you want a property manager that will make critical decisions on your behalf, making it extremely important that you find the right company for you.
The first step to finding a property management company is to understand the basics of property management. This will help you understand exactly what they will and will not do for you and your property.
Maintenance and repairs
Property management companies will provide you with an in-house maintenance crew. This includes housekeeping, landscaping, trash removal, pool service and general repair projects as well as any emergency repairs that may come up. They should also be there to oversee any projects and keep you updated on everything that is done.
Handle all aspects of rental situations
If you don’t plan on utilizing your property very often, renting it out when not in use is a smart way to keep costs out of your pocket and keep the house active. A property management company should be able to handle all facets of the rental process including marketing the property, screening potential tenants, prepare the home for rent, rental rates, collecting rents, tenant move-ins, and move-outs and cleaning the property after each rental, just to name a few. A good property management company will supply you with a comprehensive list of what they can do to help you get your property rented and keep it rented.
Keeping your house secure at all levels when tenants are not occupying the house is essential. The Internet is filled with crazy stories of how squatters occupied rental properties that were vacant for long periods of time. Other stories tell of properties that were looted with all the furniture, appliances, and personal property taken when the house was empty just for a couple of weeks. A good property management company will come by to inspect the property when no one is there to make certain everything is safe and sound.
Financial and legal aspects
Most property management companies can arrange to make payments on your behalf to all maintenance and repair companies and supply you with detailed documentation of expenses via invoices and receipts. They will handle all financial and legal aspects associated with renters and supply you with annual reporting on your properties income and expenses. If you are out of the country, they should also be able to help you obtain any visas or documentation you may need to leave and enter the country as well as explain what is necessary for you to own property in Mexico.
This isn’t a detailed list of property management services but it should give you a good idea of the scope of a property management company’s activities and what you can expect from their services. Once you know what services they can provide to you and your rental property, you need to make sure they are a good fit for you and your real estate investment. A property management company like Merida Property Management should be able to release some of your stress and anxiety of having a second home that you are not able to be near on a daily or weekly basis. You should trust them and know they have your best interest in mind. That your home is being looked after and well cared for when you can’t do it yourself.