What is Property Management? What kind of service is this? What are the benefits of this service?
The number of property management companies in Croatia is growing. Does that make sense? Very few people in Croatia know the concept of property management.
Much better known is the term building management. Property management is like building management, but it is much more complex.
In other words, agreement with the professional property management company in Croatia, owners:
– do not have to worry about maintaining and renting a real estate
– ensure the fastest return on the money invested in the property
– improve the quality of life in their property
– vacation property generates extra income
When contracting a management service, it is not enough to only sign a contract
Read the contract and make sure you understand the responsibilities and rights. In other words, it is important that both parties of the contract are safe.
The management agreement gives security:
– to You because you have defined rights and obligations in it
– to the management company, because of revenue
In other words, it’s a win-win situation for both of you
Services and fees
Choose one of the available management packages or arrange the package as per your needs.
We recommend defining in the contract:
– which services we will include in a fee
– also define services which are not included in the fee
Responsibilities of the property owner
The second part of the contract also applies to your responsibilities as an owner.
This part of the contract will determine:
– what you have to do by signing the contract
– activities which you don’t have to do
The duration of the management talk can be:
– set a timeline in advance
– renew every year
– define that it lasts until termination
It is important to specify in the contract the terms and conditions for termination.
Expectations and reality
A holiday Real estate is a great investment. Maintaining it takes time and money. Instead of a professional property management service, you can do it yourself or give it to a friend. In the first period, you might save money, but in the long run you can lose a lot more than you save.
A professional management company works with experts who provide you with:
– prevention and maintenance of the Real estate
– promotion and reservations, if you want to rent a property
– legal counseling as regulations and laws change
– managing the payment of your real estate bills
– participates in the selection of tenants in the long-term lease. Also, takes care when concluding the contract
When we settle all financial obligations, we will give you a profit.
Will you get a return of investment in a very short time? Of course not. In other words, you will get it much faster than leaving your property unused or taking care of it yourself.