One of the main benefits of hiring a condominium administration (administração de condomínios)has to do with the fact that they make sure your property is well managed. Also, they ensure that the right tenants are selected for your property, they have all inspections completed, they have all paperwork handled, hey make sure you have all your rents at the right time, etc. From the right property management service, you get monthly statements of detailed gross income, expenses accrued, commissions, etc. Due to that accounting is very easy.
Some other merits
1. Ideally, a property manager (administradora deimóveis)can charge anywhere from 4-15% of rental proceeds to have your property managed. Mostly, the bigger the portfolio you have, the lower the commissions charged.
2. They make sure they handle all things that you do not want to deal with such as notices of rental additions, eviction notices, property cleaning notices, etc. This gives you a lot of peace.
So how can you choose these experts?
Just like in deciding on properties to buy or real estate agents to work with, you need to hire these experts rightly. It is true that friend recommendations can help you here. However, that should not be the case. It is true that you can change these managers when you wish to or want. However, it is better to hire the best one now. It is true you can choose different property managers for the different properties you own. However, make sure the best managers are chosen no matter what it is. It is always exciting to know that you have a condominium manager (administradora de condomínios)service handling all management needs of your home. Sadly, most people aren’t able to benefit from these and that becomes a huge problem. Take your time and you will find the best property managers for your properties.