Property management and hospitality firms assist in all real estate, from creating inventory and reaching each yield stage of investment, to hospitality services that deliver enhanced community management services.
As an investor or an owner of an apartment for rent or personal use and if you are interested in property management and hospitality services, below are a few steps to follow
While purchasing the property, find out from your developer if they provide property management and hospitality services. If so, what are the contract terms etc.
Find out from your property management firm the kind of services they offer, usually, firms just offer the maintenance part while a few firms assist in all real estate right from creating inventory, snagging services, marketing, finding new tenants etc.
A monthly general management fee typically falls between 8% and 10% of the monthly rent. Understand the fees and also, any hidden charges
Another important detail to look for in your baseline cost is rent due versus rent collected. Make sure the agreement is such that the property management fee comes out of actual rent collected from tenants for the month rather than the amount of rent due.
It is always better to invest or purchase a property, with a developer who offers property management and hospitality services in Bahrain. As it would be easy to lease apartments for rent, with property management mainly so for fully furnished apartments offering five-star amenities.
Royal Ambassador is a leading property management and hospitality company in the Kingdom of Bahrain. Handling a property portfolio comprising 13 iconic residential properties offering over 3000 luxury apartments. If you are looking for luxury apartments for rent for the long or short term, you can get in touch with us at +973 1700 0661