Do you have an apartment in Valencia and you want to rent it to expats, or do you just need somebody to manage it while you rent it out to tourists? There are many ways to save money on property management in Valencia.
Save money on Property Management in Valencia
If you rent your property in Valencia or elsewhere in Spain you’ll know that a lot of work is involved in maintaining it to the best standard. Are you the hands-on type? Or would you prefer to receive a monthly report of your rental income and property management expenses?
A property management company will cover everything your property requires, from maintenance calls at the weekend when the boiler stops working, to meeting new guests and showing them around.
Yes, the investment will cut into the revenue you take from the rent of the properties, but this can free you up time to focus on your business and get serious about creating the best possible experience for your guests.
Here are 7 ways to save time and money on Property Management in Valencia.
1. A guest-facing agent, dedicated to solving problems quickly
One of the most time-consuming parts of owning and leasing property is dealing with tenants and solving and fixing problems that inevitably crop up on a weekly basis. A property manager will take you out of the firing line when things go wrong. Being a business, property service managers know that tenants need things fixing quickly and professionally, even at the weekend.
2. Increasing the guests’ length of stay
Professional property managers know the best ways to keep guests happy and avoid them moving away, not only that, but when this does happen, an agency has a bigger pool of contacts to get people into the property faster, meaning less downtime and more revenue overall. Potential guests coming to cities are more likely to contact agencies in the property market and ensure professionality, than check out ads on Craigslist and Gumtree.
3. Legal issues
Property management agencies have in-house property lawyers to make sure that all areas of local property law are looked at and taken care. With the rental property markets at the moment undergoing some substantial upheaval, it’s best to pass this burden onto your property manager. Infringements on legality can make for huge costs both in legal aid and fines, property management services will provide you with peace of mind that all your property’s legal requirements are taken care of.
4. Lower maintenance costs
Things break. Taps leak. Paint flakes. Over time you will see costs mounting as people need to be brought in to make repairs. A property management agency has a huge pool of professionals who can be contracted at lower prices through the volume of work they are offered. It’s a win-win, for everyone involved. You will see lower maintenance costs and your property will be looked at in a professional way with monthly checks to make sure everything is spick and span.
5. Dealing with evictions
Sometimes the relationship between guest and landlord can break down to the point that measures need to be taken. In property management, having a barrier between yourself and the client can be essential. A property manager is able to deal with this efficiently, making sure all parties are clear on the policy and the reasons. One of the most complex issues owners face is the natural relationship with tenants that can make evictions difficult, having a barrier between yourself and the tenants will help your business run smoothly.
6. Cleaning, to professional standards
Running washing cycles and drying bed linens is time consuming and frankly, a job most people would avoid. Property management services will provide you with high quality professional cleaning services, at costs that are cheaper due to volume. Good property managers have partnerships with linen providers, giving a range of linens and towels up to hotel standard, so your guests will have the best linens, the best experience, and the best night’s sleep.
7. Rent collection
Property owners know that guests are sometimes late with payments. So having a business taking care of rent collection will mean less stress for you as an owner, and also a clear policy from the property manager that will detail late payment fees and guidelines for eviction notices. The biggest frustration for property owners is the collection of fees and rent, as it can impact your business in a big way. A property management agency will make sure that your payments are made on time and regularly.
Investing in property can contribute a huge amount to your finances, and become a business outright. But the management of properties can become a drain on resources and take up your own time. If you want to pass on the responsibility to professionals, making for a better experience for your guests, property management services might be the right choice for you.
Check out the Blue Key Property Management Services or send us an email on firstname.lastname@example.org.