Thread: Property Management

I have a few quotes from property management companies and many of them want 10 percent for a long term rental. Is it really worth it to basically collect the rent?

Does anyone have experience with Panamerican Property Group? They are giving me a better quote.

Do you know about taxes from the rental incomes? That would be interesting to know if you use a licensed? company.

10% is about right. The same everywhere. For that, if there is a problem they have to sort it out. If there are late payments they chase it all up. They will also clean the place up between clients. If you can do it yourself, then great, otherwise....

OK, how about working backwards. What are the risks of hiring either no one, or a bad property manager? Anyone have some stories that should convince me why I need to pay 10% over trying to hire a local for much cheaper?

The "average" is 1 month rent per year (so it's around 8.3%).

I dont know about Panama, but in Florida 10% is pretty standard.

And they're doing a lot more than just collecting a check. They are marketing the place when it's empty, showing it to prospective tenants, screening the tenants, handling maintenence calls/issues, evicting tenants if they dont pay... as well as collect the rent and forward it on to you. That said, you really do have to check around to find out who makes an effort to do a really good job at this and who's just trying to do as little as possible and collect their part of your money.

To me, 10% is a small price to pay for all of that.

Yes, and if they are real estate agents, which they normally are, they are forced to enter your information into the MLS and let then whole world know what your income is. Easy check by the IRS on that address for rental income and here comes satan.

Originally Posted by CerebralPrimate

I dont know about Panama, but in Florida 10% is pretty standard.

And they're doing a lot more than just collecting a check. They are marketing the place when it's empty, showing it to prospective tenants, screening the tenants, handling maintenence calls/issues, evicting tenants if they dont pay... as well as collect the rent and forward it on to you. That said, you really do have to check around to find out who makes an effort to do a really good job at this and who's just trying to do as little as possible and collect their part of your money.

To me, 10% is a small price to pay for all of that.

I am fine with my income being reported. I've never hidden my income. Hell, at this point I am still working for my income.

I've never been one to worry about hiding income. I'd rather focus on findging good deductions and offsets.

Bank lending to property investors cautious, picking up an early sign of demand in the commercial projects continue to face an oversupply situation.

Anybody here own rental property in U.S. and live in Panama?

I own 'em, but live in Baghdad.

Really...

I am wondering about the benefits of owning an offshore LLC doing business in the U.S.

Why would you have benefits from that?

Originally Posted by explorer

Really...

I am wondering about the benefits of owning an offshore LLC doing business in the U.S.

I want to bump up this topic and ask if anyone can recommend a quality, responsible, reasonably-priced property management agency here in Panama City for an apt. I own. Yes, I could solicit referrals from panamanians but I'd rather ask people here.

Thanks in advance!

Hi,
If there is a problem they have to sort it out. If there are late payments they chase it all up.They will also clean the place up between clients. If you can do it yourself then great, otherwise.

Hi,
Same everywhere for that, if there is a problem they have to sort it out. If there are late payments they chase it all up. They will also clean the place up between clients.

Are Dustin & Chandler the same person?

Originally Posted by bicar

Are Dustin & Chandler the same person?

Good question

Property management is an important kind of the system that deals with various types of property, namely real estate. Property management can be subdivided into 2 main parts: residential property management and commercial property management.

I too would be very interested in property management referrals. Any companies run by Americans or Canadians?

Thanks.