It s been my experience that many people, especially those new to Mexico rental investments, believe that property management is easy. The perceived tasks of a property manager is to collect the rent, deposit the rent then wait until the next month to start the process over again. Sounds like little work. Why in the world should you pay for professional Mexico property management services
Regardless if you have one Mexico rental investment or an entire portfolio, property management is a very hands on business. There are many more details in the everydayness of just collecting rent; details that demand a lot of your time and resources
Mexico Property Management Activities
Details will include:
Giving the Mexico Tenant access to the property at move in
Showing the Tenant how each item works in the property
Addressing any maintenance issues they may experience
Pool and lawn maintenance
Tenant move outs
Cleaning the property
Although every Mexico property will have a different list of needs, your Tenant should be viewed as your customer. You need a professional that can cater to your customer and resolve any issues that may arise. After all, the customer ultimately dictates if your Mexico investment property will be profitable or a disaster. A property manager will be the front line person representing you to the customer. Without the customer, you do not have rent revenue and without rent revenue, you are stuck funding the investment yourself.
Questions to Ask a Mexico Property Management Company
When interviewing property management companies, here are a few questions to ask:
What are their fees and when is it paid
How will they handle Tenant issues such as repair requests
What process do they go through to collect rent or what happens if the Tenant does not pay
Will they market the property for rent How
Do they screen the prospective Tenant How
Do they handle all legal contracts between Landlord and Tenant
Do they facilitate any repairs with a contractor Are those contractors licensed in their respective field
What are their hours of operation
What is their accounting method and what reports will they send to you regarding the property
When do they disburse rental funds to you
Who holds the security deposit from the Tenant
What amount of reserve will be required
At what point will they contact you on maintenance or Tenant issues
How often do they inspect the property
Regardless of how many questions you ask, a Mexico Property Manager is your contractor and you must have a comfort level with them. Look for solid credentials, get recommendations and references and make sure they have a good reputation within the community. When searching for a property manager, do your due diligence and pick the one that you feel will be the greatest fit for you and your property.
Kami Kemp is both a Texas Realtor and Real Estate Broker in Arizona with Prime Properties. She is a member of the Texas Association of Realtors, the National Association of Realtors and National Association of Residential Property Managers. She began her career in Property Management and Leasing in 1990, has served on various education committees through local associations and has taught many Fair Housing compliance and marketing classes throughout her career. MEXICO REAL ESTATE 512-879-6546
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