Working in partnership with a Property Management Company will not only guarantee that your property will be kept in order, but it will also guarantee that you will make a profit from rentals.
Experienced property managers are experts at finding good tenants and will take care of all the details, like carrying out security checks on prospective tenants, from criminal records, running credit reports and verifying employment to collecting previous landlord references. This can be a fruitful partnership for both the property owner and property Management Company. The owner can either opt for a percentage of the monthly rental cost or fixed sum of money. The profit from margin for an effectively managed property in Cyprus can be between 6 and 7 percent annually.
By signing with a professional property management company, the owner of the property not only avoid problems associated with the management of their property, but will also save money and time.
Property management includes:
- Marketing and advertising your property to find the right tenants;
- Preparing your property for renting;
- Making reports with indications of profitability;
- Security control of the property;
- Property Maintenance.