BY BARBARA BATES
Congratulations! Now you own a little piece of paradise. Will you relocate or visit? Is it a full-time rental or a part-time home? Will you renovate or leave it as is? Will you hire a property management company or manage it yourself? So many questions. So much to consider.
Managing your property from near or far can often bring time-consuming challenges and unanticipated problems.
Hurricane season can be demanding; water is unpredictable, electricity, when the utility bill is unpaid, wit ill be cut off, the pool guy needs to get paid, renters don’t always behave, and accidents happen. Washing machines break down; your cleaner didn’t show up for work; your toilets are backing up. The list can be long and often unpredictable.
Proactive vs reactive? Hiring a dedicated property manager before problems arise is smart. They can anticipate problems before they arise. Identifying and repairing potential or existing issues early on can avoid more expensive problems.
Relying on your buddy to come by occasionally (if they remember) or your agent (who is focusing on selling) to manage your investment for you may be ineffective. Hiring someone whose reputation depends on your satisfaction may be the better choice.
Word of mouth can be the best way to find a reliable property manager. Talk with other property owners and trusted neighbours. Ask questions. Do they speak Spanish and English? Obtain references. Interview. You will get a sense of their capabilities.
Imagine. It’s 11 pm on a Saturday when your cistern explodes – who do you call? Do you have renters? Who do they call?
You forget to pay your CFE bill on time. They cut off your electricity. Do you know who to call?
Your Wi-Fi stopped working but you have paid your bill. Can you get through to Telmex to get them to come?
There is a water leak outside your meter. Baja water is gold. Who do you call to fix this immediately?
Your renter has a medical emergency and may need your assistance. Do they call you?
Renters can have many questions and needs. Do they call you for assistance? Happy renters stay longer, pay more, rebook, and recommend.
These are some reasons why you need a property manager for your full-time rentals or part-time vacation home.
Spend some time searching for the right property manager. Ask questions.
Enjoy your piece of paradise. Have them manage; you can enjoy.