Managing property may seem like a breeze. However, the reality is not that easy. Managing property actually requires extra effort, time and money to get a stable income. If you are an investor or villa owner in Bali, you have 2 options to manage your property. Choose to manage your property independently or appoint a third party to manage your property, that is a professional Bali property management company. Of these two options, which one is the best?
This question actually has no right or wrong answer. It all depends on the circumstances of each individual. However, to answer this question, it would be better if we outline the advantages and disadvantages of each option.
What’s your property management budget?
As property owners, of course, we must have a strategy to allocate our budget for property management. And with the current COVID-19 pandemic, you have to spend a lot of money to take care of your property even though it’s empty of guests. You have to rack your brain to stabilize your finances. If you manage your property independently of course you have complete freedom in managing your finances.
At the same time, Bali property management can help you. A good property management company will certainly guide you in allocating a budget according to your conditions and needs. Starting from the budget for repairs, discounted prices, all facilities, and others. This can help you to avoid bigger losses. Or even have to close your investment immediately. Although your profit will be shared with them, this service will really help you to survive in critical situations.
If you use the services of a property management, you will get advice on how much you can afford to renovate your property and when to do it. So you will save a lot of time and can maximize the income from your property.
On the other hand, if you handle your property by yourself, it may take a lot of time to renovate your property, and it is possible that you can do the renovation at the wrong time.
In determining the discount price for your property, of course, it requires careful calculation and accurate data so that the income from your property will remain maximized.
By using the services of a property management services, you don’t need to bother thinking about the appropriate discount price for your property. An experienced property management must have certain data and calculations to determine the discount price for your property.
It is possible to provide a discounted price for your property if you manage it independently. So that the income from your property is not maximized.
The main and supporting facilities in your property may need updating and maintenance. By using property management services, you will save a lot of time to check the condition of each facility in your property. The property manager will conduct regular inspections on your property. So that your property will always be in optimal condition and ready to be rented out.
But if you manage it independently, checking each property will take a lot of time and money. Property management will help you with this.
If you manage your property independently, you can find a repairman who fits your needs and budget. You also don’t have to spend extra to hire bali property management.
However, hiring a management property can make your job easier. You don’t need to have trouble finding a trusted repairman. Usually property management companies work with reliable repairmen so you can get a lower price.
Time and energy
If you don’t have a busy job, it’s a good idea to manage your property independently. The advantage of managing your property privately is that you can manage everything flexibly. You can also deal with guests directly and even establish good relationships. This will certainly benefit you by getting them to come to your place again. But the downside, your personal life can be disrupted because you have to stand-by if your guests ask for help during their stay.
Meanwhile, if you have a very busy job, hiring a bali property management company might be the right choice. They will assist you in all your property interests. So, your personal and work life will not be disturbed. You can relax at home and check the progress of your property through the application.
Bukit Vista is one of the property management in Bali with application technology that can make it easier for property owners. Through the BV Go App, partners can check your booking, financial and guest reports in real time. Check BV Go App features here
If you expect stable occupancy or a high ROI, you must have good marketing skills for your property. Just listing your property on OTA is not enough to bring guests to your property. If you manage independently, you can freely determine the price of your property, register on OTA anywhere, work with agents and others according to your reference.
However, without property management, you may set prices too high for your property because you do not understand the latest market developments. By doing so, you run the risk of leaving your property behind for too long. Leaving your property unattended will cost you extras, such as maintenance and amenities. Hiring a management property can certainly minimize this risk and market your property appropriately and optimally.
Property Management has a dedicated team that can manage the marketing and pricing of your property, so you don’t have to bother thinking about marketing and pricing strategies.
For example, if you run your property business independently you will have to think about hiring a professional photographer for your property, or copywriting for your property listing. In addition, property management has a qualified pricing team and uses data and technology to determine the best price for your property during high season or low season.
The most common issue when investing in rental properties is experiencing losses due to guests not being able to look after our property. Just making a deposit may not be enough because we never know how much loss can occur. Of course, you have to be selective again in screening guests who want to rent your property. You can start by checking from social media, booking account traces, and others. You can take a look at this article to know how to properly screen guests.
If you hire management, you don’t have to worry about handling adverse guests. Property management will bring the right guests for you and of course have passed the screening.
After comparing the two options between renting a Bali property management or self manage rental property, which one is the best decision comes back to your conditions and goals. Although renting a management property requires you to share 10-15% profit with a property management company, the benefits provided are very helpful for you.
Curious about what benefits a bali property management company provides? You can visit the Bukit Vista website here. Bukit Vista has proven to be the best property management in Bali by successfully managing more than 170+ properties in Bali and Jogja.
You may become a property owner who holds full rights to your property. But that doesn’t mean you have to do it yourself. You can consult our experts for free. Tell us your problem and we will be ready to help optimally. Phone to get started now.