Property Management Company
Property management company are the practices in which responsibility to maintain and oversee daily management of property is given to the third party. In early months of the pandemic, according to Kompas.com, there were 1.174 properties were closed in Indonesia. Not only property owners, the pandemic impact is felt for those who work in supply chains of property management service as well. In this situation, everyone must innovate and get creative to survive.
Indeed, hire a property management company to manage your property is a big decision. Especially if you are Bali property owner. Furthermore, as mentioned in merdeka.com, in 2021 more than 60 properties in Bali are ready to sell. Using property management service can either boost your property’s revenue or causing more financial loss. But, if you find difficulty to improve your revenue rate and manage your property, choosing professional property management company can be the best decision.
Then, how to choose property management company while you have incurred significant income decreases in Bali?
A simple google search
The most effective and efficient way to find the right property management company is by doing online research. Before you take time to communicate further with a property management company, read their review. For instance, you can read their review through Google review and social media like Facebook Page or Facebook Community. By doing this step, you have done the first step of how to choose the right property management company. Indeed, you’ll have a prospective lists which suit with your condition.
Next, further your research!
Check out their website
As a property owner, you have to know the details of your property management company. Here are some essential information you should know :
- First, property management services.
- Second, property management fees.
- Third, company’s properties and company’s portfolios .
- Fourth, their property owner.
- Fifth, contact information.
- Last and most importantly is review.
Local referral matters!
Besides online research, the best way to find the right management company is through partners’ feedback. Surely, you can ask your colleagues, friends, and families who work in the hospitality management. Professional management companies have a strong professional relationship with the professional or hospitality in the region. In this case, you can ask your colleagues who works in Ubud, Seminyak, Canggu’s hospitality management or another area in Bali.
Check out their current works
Another way to choose the right property management company is to see them in action. Go check the properties they currently manage to see their management team.
Test your prospective company with multiple questions
Choosing the right property management company is more about finding a partner you can trust. For sure, you can ask essential questions to find the one you feel most comfortable with. Have a read to the alternative questions you can ask below:
- How do you handle customer complaints?
- How much is the property management fee?
- What are your best practices to increase revenue?
- What is your strategy to handle emergencies after hours?
- Do you have best practices to meet monthly target? What is the strategy?
- Will I receive annual and monthly financial reports?
Count the property management fee
During the pandemic, the management fee is the primary concern for most property owners. Both property management services and fee of each company is varied, depending on the property is located. Some property management companies charge some percent of the monthly rent value and some companies charge a flat fee. Certainly, you have to choose property management company wisely which meets your budget and specific criteria, as a property owner.
In Bukit Vista, you pay nothing when you get nothing. You pay for the performance while we provide one stop hospitality service. Starts with market insight and hospitality best practice, yearly revenue projection, automated monthly report dashboard, professional photographer & top-ranking OTA profile, guest and reservation handling.
A fair deal, isn’t it ?
So, that’s how to choose property management company which suits you best.
If you are currently looking for a property management company in Bali area, Bukit Vista is here as your trusted resource for everything property management. Learn about our services at Manage My Property page or head to our Community Expert page to learn learn from the expert about refining your property. Feel free to reach out!
See you next time!
Bukit Vista Team