Why You Should Hire a Property Management Firm in the Philippines

Hiring a competent property manager can add greater value to your investment rather than managing it yourself. Whether you're a first-time landlord or an experienced investor with a vast portfolio, you need a firm to manage your investment property/ies to save time and money over the long term, especially if you'd prefer to focus on income-generating activities or tasks.

Effective tenant screening
Having one bad tenant can cause several costly problems such as dealing with unpaid or late rent, spending for unnecessary repairs because of property negligence, etc. A property management firm can help you avoid these issues through effective tenant screening. Experienced firms like KMC MAG Group already has an established screening process to steer you away from the headache and anguish brought about by dealing with troublesome tenants.

No need to worry about updating legal requirements
Keeping up with the changing landlord-tenant laws, required taxes, and other legal requirements is both time-consuming and costly for landlords, especially for foreigners who are new to Philippine real estate. A local property management firm like KMC MAG Group is well-versed in Philippines' legal system and processes, making it easier and faster to file the initial paperwork such as permits and contracts that are necessary to close the tenancy. Aside from this, owners also wouldn't need to worry about legal issues that may arise during the rental period -- property management firms have knowledgeable teams capable of handling these situations.

Lower vacancy rates
Working with a property manager can shorten your property's vacancy cycles and ensure maximum returns on your investment. With their help, you can: 

• Easily determine which aspects of the property need modification to increase revenue
• Set the optimal level of rental rate to maximize investment: a high rental rate can discourage possible tenants and prolong vacancy cycle, while a lower rent can result in losing money and extend the time needed to recover your capital.
• Benefit from effective real estate marketing: Property management firms often have a wide professional and business network and established advertising and marketing channels that ensures you have easy access to a large pool of candidates.

Lower costs
Property managers can help reduce your property's maintenance and repair costs as they have trained in-house maintenance staff and access to reliable contractors who provide quality work at a good price. They can also help you achieve staffing efficiency and provide the best practices for preventative maintenance programs to minimize costs and premature equipment failures.

Outsourcing your property management needs is the smartest decision you could make to effectively grow your real estate investment. Contact KMC MAG Group today to get customized and up-to-date real estate advice on Philippine properties.