Trust management when renting an apartment
Renting an apartment in Kyiv is one of the most profitable businesses. After all, the number of residents in the capital increases every year, people seek comfort and independent living. But, unfortunately, the amount of free time that homeowners have is only decreasing. What to do if the option of renting out an apartment yourself, looking for tenants, conducting inspections and monitoring the payment every month is not exciting? Or maybe you're in a different city or country altogether? Then specialists — real estate agencies — come to the rescue. Renting an apartment in trust management will be a great solution for you and will also save time. By the way, if you are thinking about buying real estate, we recommend contacting our office professional luxury real estate agency THE Capital.
What is a trust management when renting
Not having the opportunity to organize the rental of an apartment on their own, owners often turn to real estate agencies for help. For a certain commission, they take on all the responsibilities of a home owner — they look for residents, conduct inspections, ensure technical maintenance and safety, sign contracts, monitor tenants, and give monthly profits to the home owner. Thanks to this, the real estate owner has fewer worries, and the agency has additional income. On average, this is 10–25% of the monthly rent. A real estate agency for renting out apartments should be as convenient as possible for you and meet all your requirements.
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The possibility of such a service as trust management of residential real estate appeared not so long ago, only 10-15 years ago. But this service quickly became popular, as it greatly simplifies the lives of busy people who often go on business trips, live in other cities and countries, or simply have no desire to engage in this routine.
But before giving the management of your home to someone, be sure to check his reputation and draw up an official contract, which will specify all the nuances and responsibilities of the agency:
- search for residents;
- rental of real estate;
- monthly receipt of rent;
- payment of utility services;
- maintaining apartment security and communication with tenants and the owner;
- housing support is fine.
In what cases should you entrust the management of your apartment to an agency
The trust management service is most often used by the following categories of owners: people who live abroad or in another city, those who do not want to spend their time on the routine of renting an apartment, rent several apartments at the same time or rent an apartment on a daily basis. Those who live abroad entrust the agency with the entire management cycle of their real estate, from finding a tenant to receiving money.
Read also: What is a housing mortgage in Ukraine.
There are those for whom it is important to know personally those who will live in his apartment. Therefore, this type of people often finds the tenant himself, gets to know him and signs the contract. And only then, not wanting to spend time checking apartments and receiving money every month, gives these duties to the agency.
Those who rent several apartments at the same time know how much time can be spent on solving household problems and simply communicating with tenants. Therefore, trust management is a great option to save a huge amount of time and nerves. Renting apartments by the day is also easier through an agency, because then you don't have to spend time every day on check-in and check-out, cleaning the apartment, monitoring payments, etc.
Saving time is the main advantage of real estate trust management. And from the disadvantages, we can single out only the fact that in this way the owner will receive a smaller amount, because the agency always takes a commission. THE Capital rental real estate agency will help you rent apartments on favorable terms with minimal time spent. Was the publication interesting and useful? Subscribe to our real estate blog updates and get the latest posts from THE Capital real estate agency.
