The role of the property manager can sometimes be misunderstood. Property investors sometimes feel that the role does not extend beyond the collection and remittance of rental funds and acting as a buffer between the landlord and the tenant.
Any investor in property would benefit from a professional property manager but it is essential to know what to look for:
- A professional who is experienced in the market. Not just any market, but the Ras Al Khaimah market. Typically, if you find somebody with at least 10 years’ experience, you will have found somebody who has survived the global recession, and that should provide a reasonable indication that they are in the business for the long term and that they had the skills to navigate and survive the property slump.
- Knowledge of the market. A truly experienced manager will have a strong knowledge base on topics including industry history, current market factors and trends and be able to present these.
- Communication: Managing your property will also require proper performance measurement, communications and review schedules. Ensure you look for status reporting and financial statements for your peace of mind.
- Customer Centricity. It’s important to choose a property manager who you can work with and who, you believe, has your best interests at heart.
- Reviews and referrals. As an investor, be sure to ask for referrals and testimonials and call some existing clients.
- Finally, it’s essential to find out if the organisation has the resources to support the property manager. In these times of eliminating overheads, individual performance can be inhibited because of a lack of organisational support. The investor should ask to meet the team.
Please choose wisely we at Hunt and Harris Real Estate have over 12 years of experience in the Ras Al Khaimah market. Providing expected returns with as little hassle as possible.
Contact us for more information on our property management services.