PROPERTY MANAGEMENT

In Panama Top Real Estate we offer property management services in order to ease owners´ lives.

Here you will find some of the tasks we perform as property managers:

Evaluate the property and determine an accurate rental rate

  • Perform detailed documentation of the interior and exterior including photos.
  • Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI (Return on Investment).
  • Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.

Market the property for rent

  • Work with certified realtors and leasing agents to find a tenant.
  • Meet prospective tenants for showings throughout the week and weekend in the case the owner is busy and act on his behalf.
  • Provide prospective tenants with rental application requirements by the owner.

Tenant Move In

  • Draw up leasing agreement.
  • Collect first months rent and security deposit

Rent collection

  • Receiving rent.
  • Hunting down late payments.
  • Sending out pay or quit notices.
  • Enforcing late fees.
  • Pay maintenance fee and bills of the apartment.

Inspections

  • Perform periodic inspections (Inside and outside) on a predefined schedule looking for repair needs, safety hazards, code violations, lease violations, etc.
  • Send owner periodic reports on the condition of the property.

Financial

  • Provide accounting property management services.
  • Make payments on behalf of owner (Mortgage, insurance, HOA dues, etc.).
  • Detailed documentation of expenses via invoices and receipts.
  • Maintain all historical records (paid invoices, leases, inspection reports, warranties, etc.).
  • Provide easy to read monthly cash-flow statements which offer a detailed breakdown of income and itemized expenses.

Maintenance, Repairs, and Remodeling

  • Provide and oversee an in-house maintenance crew.
  • Establish a preventative maintenance policy to identify and deal with repair needs.

Tenant Move Out

  • Inspect unit and fill out a report on the property’s condition when the client moves out.
  • Provide tenant with a copy as well as estimated damages.
  • Return the balance of the security deposit to the tenant.
  • Forward any portion of the owner’s portion of the tenant deposit to the owner or hold in owner reserves for repairs.
  • Clean unit and perform and needed repairs or upgrades.
  • Re-key the locks.
  • Put the property back on the market for rent.

Costs

The cost of our property management services is just the 10% over the monthly fee.