What information and documents do you need from me in order to manage my property?
Documents required in order to managing your property:
- Proof of ownership (1st page of the sales agreement and proof of payment completion)
- Owner’s passport copy
- Trade license copy (if property is under company’s name)
- Property layout
Information required in order managing your property:
- Is the property vacant or tenanted?
- Is there a service provider contracted for the property?
- Complete contact details of the owner (landline number, mobile, email, mailing address)
- Bank account details of the owner for transferring received rent
What services are included in my property management package?
- Arrange property viewings
- Draw up lease agreement
- Collection of rent and security deposit
- Rental cheque banking
- Pre move-in inspection
- Key handover
- Lease management
- Tenant management
- Follow up on default payment
- Move-out inspection and key collection
- Financial accounting
- Quarterly condition reports
- Maintenance management
How much does landscaping cost?
The cost of landscaping would depend on the area that would need to be landscaped and also on the nature of the landscaping. We would have one of the service providers for landscaping discuss your requirements and provide you an estimate for the work.
Do I need to be present for the inspection or handover process?
If handover is between the developer and landlord
We recommend that the landlord is present for an inspection / handover while receiving the property directly from the developer. However, if this is not possible, then Challenge Real Estate can arrange for the handover.
If handover is between the landlord and tenant
No, the landlord is not required to be present for an inspection / handover as Challenge Real Estate would represent the landlord for this purpose. During this time, the Challenge Real Estate will make a detailed report on the inspection / handover and ensure that all discrepancies are brought to the landlord’s attention immediately.
If the tenant has a maintenance problem or has problems with another tenant, whom do they call?
If a service provider has been assigned to the property, then the tenant will need to call the service provider directly. Otherwise, the tenant will need to contact their Property Management Executive assigned to manage their property.
Does the tenant have my contact details?
No, landlords contact details are not passed on to the tenant.
Do I need to sign a new property management contract and Power of Authority every time I get a new tenant or if I leave the property vacant for too long?
No, the property management contract that is signed between Challenge Real Estate and the landlord is automatically renewed annually unless either party wishes to terminate the contract.
If I want to sell my property but the tenant wants to stay, what happens?
Sale of a tenanted property is possible; however the owner will need to honour the tenancy contract until its expiry.
If I decide to sell my property, would you take care of the sale for me?
Yes, Challenge Real Estate has a dedicated team of sales professionals who can advise and assist you in the sale of your property.
If I am unhappy with the tenant, can I evict them?
No, a tenant can only be evicted if they fail to comply with the terms and conditions laid down in their tenancy contract.