Trust property management is a service provided by people in Thailand who offer to manage your property for you. This can be helpful for owners who don't live full-time in Thailand, or simply don't want to deal with the day-to-day management of their property. Now let’s delve deeper into what trust property management actually entails and why it’s beneficial.
Trust property management requires delegating all property operations to a management firm. The company assumes the responsibility of leasing, securing contracts, property maintenance, and tenant matters. This provides an opportunity for landlords to benefit from a steady income without needing to manage the properties themselves.
Services vary according to the company, but generally include (but are not limited to):
One of the key benefits of trust property management is the opportunity to receive passive income from renting without having to personally manage the property. This is a great advantage for people who cannot come to the location.
Rental and upkeep of the property are taken care of by the management company. In this manner, the owner doesn’t have to worry about most of the tasks, without the need to get involved in day-to-day operations.
Regular preventive checks and maintenance of property will guarantee its security and stability. The management company takes care of repairs and maintains the property.
Sometimes, the management company will provide a flat percentage of profits from the property. For instance, the owner receives 70% of the income and the company receives the remainder.
Trust property management is particularly popular in tourist regions of Thailand, including Phuket, Koh Samui, and Pattaya. These resorts are in high demand year-round, and the demand for property rentals is always high. Several management companies offer a wide range of services such as marketing, maintenance, and booking management, providing the landlords with a steady income from property rentals.
With a high influx of tourists and steady demand for rental space, the return on investment for a rented property can be as high as 10-12% annually.
Investing in trust property management helps property owners become passive investors, earning money without actively managing the property. This is a great option for anyone looking to make money from their money but not wanting to be burdened with daily management.
Management companies ensure that everything is done in accordance with the law. Owners of properties under management know that all payments are handled and processed on time.
Trust property management in Thailand is an easy and profitable way of earning money from renting out property without the headache and stress of managing it yourself. It relieves the owner of the burden, while providing a regular income and ensuring the safety of the property. If you are planning to buy property in Thailand to invest in, you should consider property management. And if you need to find property, DDA Real Estate can help you with that. Contact us now!
