When you are expanding your real estate portfolio and getting valuable properties, what you need the most is a helping hand so you can maximize your profit and balance your time efficiently. Property management helps in this area since overseeing operations from start (finding tenants) to finish (repairs) is covered.
Property managers help in the management of different types of real estate properties as seen below:
- Industrial properties
- Residential properties
- Commercial properties
Managing these properties can be a team working together to ensure their daily operation continues smoothly or just one person, depending on the number of properties under their belt.
Core responsibilities of a Property Management team
Since someone is tasked to check the property daily, everything that needs maintenance and repairs are addressed quickly. Therefore, any possible losses from this liability are reduced or removed, allowing you to get the full profit for that property. Additionally, part of the operations is ensuring there is good security for the real estate, from security guards to making sure security cameras are working without any problems.
Besides that, here are other responsibilities that property managers do:
- Adhering to strict budgets for maintenance on properties
- Finding high-quality tenants
- Creating, signing and renewing tenant leases
- Collecting rent
- Handles the process of eviction.
The core of property management is to generate profits and manage real estate. This means there is little to no responsibility that you would have to do if you hire a property management team. All you would need is to pay the team and you can let them do the legwork. Then by the end of the month, you can simply collect profits and read through the report sent to you by the property management team detailing what happened to your real estate for that month. It’s all the fun of earning income without the hard work!
So what are you waiting for? Get the right property management team for your properties now with IPS Cambodia. Not only do you get a dedicated team to handle your real estate but you will receive concrete and detailed plans on how your properties are managed, reports, receipts, property inspections and more. Reach out to us now so you can take the load off your hands and increase your profit in Cambodia real estate!