Property Management Professionally – Metro Nuevo & Puerto Vallarta Mexico
There tends to be a general public misconception at the consumer level about property management. Urbane’s professional property management team is trained and ready to get you results! Put rental cash into your bank account.
Many ask, “Why would I pay for a professional Property Manager? Can’t I just do it myself and save the money I would pay to the Property Management Firm?”
The simple, quick answer is this: Of course, you can go it alone and manage your own property. It is entirely possible to DIY and act as your own property manager. Consequently, you are missing out on some pretty significant benefits! And, you better prepare to make a large commitment of time, patience and money. Not to mention that you may not be from Mexico and therefore, perhaps you aren’t familiar with the Mexican Tenancy or Condominium laws. Therefore, you might want to read on, to find our more.
Why A Professional Property Management Firm?
On this page, we will attempt to break some of it down and demystify it for you. That way you can make a knowledgeable decision. One of our goals is helping you can learn more about the way we work, for you!
To help illustrate, we’ve included a small photo portfolio presentation of a professionally managed Urbane condominium. This one, on El Tigre Golf Course, is in Paradise Village, Nuevo Vallarta, Mexico.
These owners are from New York City. Therefore, since they are not from Mexico, it is impossible for them to ‘have eyes’ in both places. Consequently, they opted for professional property management services. Urbane International Real Estate Group proudly manages and maintains this condo.
Our Firm also manages and maintains many more condos, homes, vacation properties and commercial spaces for ‘distanced owners’. These properties are kept in tip-top condition at all times. That way, they can be shown to potential renters, and/or, buyers at a moments notice.
Role of the Property Manager & Property Management Firm
A task as seemingly simple, as ‘managing a home or condo’, entails a lot more than what one might think.
Or, than what meets the eye for that matter. It all appears quite simple to the onlooker. That’s because the pro’s make it look easy. Much like a mechanic makes doing repair-work to your car look routine.
But the reality and truth of the matter is very different. These people, like the mechanic in our example, have all been professionally trained. They are experienced in their fields of expertise. Experts in objectivity. Experts at marketing. Experts at presentation. Experts at delivering the whole picture. Experts at showing property. Experts at closing and getting deals written.
Skills Of The Property Manager
Professional property managers also have established networks of other respected real estate and rental professionals. They work closely with this group, sharing listings and leads, to get top-dollar for the owners. Because they all get paid on a percentage basis, it is in their best interests to squeeze every penny out of every property rental deal. Just as in typical real estate, the gross earned commissions are split 50-50 between cooperating brokers.
Contrary to what many might think, being a property manager is no easy task. For starters, you must have a really thick skin. You need a very high tolerance level to questions (in some cases ridiculous ones). Great customer relations skills must be posessed to deal with inquiries, problems and complaints, groundless or otherwise.
In addition, you must know a lot of ‘tricks of the trade’. Scams, fraud schemes and all sorts of other undesirables lurk in the shadows, waiting to pounce on the right opportunity or the unsuspecting.
Property Management Strengths
Generally speaking, residential property management professionals are college graduates. Any that are worth the salt for their soup, have been educated at reputable colleges, post-graduate institutes and universities.
They are not part-timers dabbling or making an extra buck after hours at their normal job. They are expert managers and organizers of time, tasks and budgets for their clients (the property owners) themselves and others.
Equally critical, is the possession of skills and extensive knowledge in marketing and supervision. Professional property managers must be proficient in the staging, booking appointments and showing property. Not only to potential renters, but also to other rental and real estate colleagues, who may have potential clients, as well.
Professional Property Management Benefits
There are a few very significant benefits to having professional property management. We’ll just touch briefly on a few of the big ones:
> The keys to your condo or home are managed and controlled at all times.
> Your property is kept clean, tidy, pristine and ready to rent at all times. Spic and span – always. Professionally cleaned after each rental – laundry and all.
> You will have a single point-of-contact with the property management Firm. That property manager is accountable to you the owner, in every way.
> Professionally managed properties have market exposure to at least a hundred times more places than any one person could do by themselves.
> There are literally thousands of real estate agents, property managers and rental agents around the globe. Your property is represented, on your behalf, to them all.
> At our Firm, we never exclude anyone. You just never know who will have the most suitable client for the showing.
The Property Management Process
- Then, there is the process of screening and selecting renters, doing up legal paperwork, such as a lease, or Hospitality Contract Agreement.
- All this is in addition to the post-renting, day-to-day management of the home, condo or property.
- And, what happens if something goes wrong? Are you protected?
- Professional Property Management and Real Estate Firms are covered for those types of unfortunate situations. Through our professional Associations & networks we are required to carry insurances and bonding.
- Almost invariably, a professional property management and real estate Firm will be able to get you a better price as well. The reason is a simple one word answer. Competition.
- Potential tenants, and/or, buyers for that matter, searching for high-quality rental properties, compete to get them. Professional property managers and real estate agents create that environment through their marketing expertise and initiatives.
The Biggest Benefit Of Professional Property Management
- Lastly, and perhaps the biggest benefit to an owner, is the hands-off manner in which, everything is handled.
- No muss and fuss.
- It is all handled by the property manager and the property management Firm.
- All the owner needs to do is say “yes” or “no” to the final offer, sign the completed paperwork and watch the bank account grow.
Do It Yourself Property Management
With today’s technology and the information available online and in other places, you could “do it yourself,” no doubt. However, some of the key questions you may want to ask yourself before making the commitment are:
- What knowledge do I have of the real estate process and all that it involves?
- Where will I find my tenants or do my solicitation advertising?
- How much time do I want to allocate to this property management task?
- How will I screen and background check the applying candidates?
- What guarantee or assurance do I have that I will make a good selection of the right tenants?
- Who will I contact to get repairs done if something in the property malfunctions?
- What happens if they default on paying the rent?
When doing this self-analysis to see if you are cut out for the task, also ask yourself this key property management question:
- How much do I know about Landlord and Tenancy Legislation and all the intricacies that go along with it? Especially so, in Mexico?
Professional Property Management Inclusions
There are a number of primary functions in the role of effective Property Management:
- Analyzing the property to determine its’ rentability and true rental potential in a given real estate market.
- This process includes an objective (and sometimes harsh and critical look) at the property to make improvement recommendations to it’s owner, thus making it more rentable, at a better price.
- Outlining and specifying property objectives and plans.
- This includes delineation of scope, budgeting, scheduling, setting performance requirements, and selecting participants who will partake in the marketing and property management.
- Marketing the property to its’ full potential in a manner that interests as many potential candidates as possible.
- And, attracting as many other real estate and rental professionals as possible to assist in working the listing.
- This process also includes answering inquiries, staging, showing, key control, screening, background, employment and credit checking potential tenants.
Daily Property Management Tasks
- Ongoing care, preservation and regular inspections of the property.
- Dealing with day to day issues with not only tenants, but also equipment, appliances, etc., thus maximizing the resource efficiency through the procurement process of labor and materials for repairs.
- Implementing various team operations through proper coordination and control of showings, supervision, planning, estimating, collections and day to day overseeing in the entire process.
- Developing effective communications practices and mechanisms for informing both owners and tenants, and/or, resolving any issues or conflicts.
Professional property management firms typically have an established protocol for handling all the foregoing. But it takes a full team – not any one person to do the job effectively. That’s why quality Firms employ professionally trained Property Managers.
A Dedicated Property Management Client Care Team Working For You
Within the Firm as well, there is generally an established network of trades, maintenance and repair people who are tried, tested and proven. These can be called upon when issues arise.
Expert property management personnel generally work for high-quality Firms and Real Estate companies. They do exactly as the term ‘property management’ implies. They professionally attend to, market and manage real estate properties on behalf of the owners.
Premium-Quality Listing For Your Property Management
Premium-quality Property Management Firms, such as Urbane International Real Estate Group for example, will recruit for and solicit such individuals. Applicants are rigorously screened at the outset, to ensure they fit within the Firm’s values, areas of practice and Code of Ethics.
To ensure transparency and single-point-of-contact, a designated Property Manager is then assigned to a residential property by the Firm. That person has a full team of leading support staff working with him/her, to provide the level of service needed.
In our case, we have the advantage of being an international Firm. We are also much more diverse than most. Your property will have a professionally prepared listing that will be displayed to the maximum number of potential renters. Most significantly, it will be digitally mastered for online presentation, as well as print.
On Site Property Management Personnel
An additional huge benefit to you, is that our property management personnel live right in the communities where they work. Condo communities such as Playa Royale, Taheima, Isla Palmaras, Green Bay, Peninsula, Mariposa, Pensinsula Golf, El Tigre and Paradise Village.
This unique combination gives Urbane Puerto Vallarta Real Estate & Property Management Group a significant edge. Plus, our focus is not all over the place. It is predominantly in Nuevo Vallarta, Bucerias, metro Puerto Vallarta, La Cruz and Punta de Mita, on the Bahia de Banderas.
Urbane International Real Estate Group’s experience and practices have resulted in over 5,800 highly-satisfied, repeat Clients for the Firm, since 1971. And not only in Property Management, but in every aspect of residential lifestyle, real estate and custom homes design-build. We’d be delighted to earn you on our growing list of Clients by assessing your property listing today.
Finally, once we’ve earned your business; we’ll keep you as a client for years to come, through our professionalism, expertise, experience and 5 Gold Star Customer Service. Read some of our client reviews to see for yourself. If however, you are going to try ‘going the task alone’, we wish you every success. Whatever your choice, we’ll be happy to help out if we can.
If You Need Property Management Help
Should it turn out that you need some help from our property management professionals, just get in touch with us. To list your property, learn more about your possibilities, or to simply inquire about our fees, click the big orange button below. Then, complete and submit the easy-to-use online property management inquiry form.
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