Rental property management
Do you own a rental property but lack the time or interest to manage it? Let us handle everything for you from start to finish, so you can enjoy a completely passive income!
Are you looking for a reliable partner with extensive experience to manage your real estate portfolio?You're in the right place—we've successfully rented out nearly 700 apartments in 6 years!
As real estate investors ourselves, we manage our clients' properties as if they were our own. We think and act like owners, using modern solutions to maximize rental yield. Our goal is to ensure both owners and tenants are happy.
Our rental property management service includes:
- Pricing strategy
- Professional photos and exceptional marketing
- Tenant search process
- Thorough tenant background check
- Formalization of the lease agreement and handover documents
- Handover to tenant
- Collection of rental fees: security deposit, rent, and utility payments
- Depositing the security deposit
- Payment of utility and electricity bills
- Organizing ongoing maintenance and improvement work
- Recording water, electricity, gas, and heating readings during property transfer
- Property inspection before tenant moves out
- Handling deposit deductions (if necessary)
- Communication with insurance (if necessary)
- Managing and maintaining the property between rental periods
We get paid only when your property is rented.
Our well-planned strategy and personal communication with tenants ensure our clients' properties are nearly always rented. In 2023, the occupancy rate for the 110+ apartments we manage reached 97%! Tenant satisfaction is evident, with an average lease length of 571 days.
That´s all great but…
…my portfolio is small, and I can handle it myself.
Our rental management service is designed for anyone who owns rental property, whether you have 1 apartment, 30, or 100. Our service is valuable and necessary for all property owners. With nearly 700 leases signed over the years, we are confident in our ability to find you higher-quality tenants at better rates due to our extensive experience.
...return on investment is important to me, and I'm concerned I will earn less by using your service.
Our experience shows that, thanks to our well-planned and unique strategy, we can often secure higher rent than owners previously achieved on their own. Therefore, it's likely you will earn the same amount as before, but without any effort on your part.
...how can I be sure you will find good tenants?
As real estate investors ourselves, we manage our clients' properties as if they were our own. At the start of our cooperation, we coordinate the tenant selection with you. This provides you with a clear understanding of our process and gives you confidence that everything is done thoroughly and professionally.
...what happens if there's an issue with the apartment while it's under rental management?
Handling challenges is included in our service—we address and resolve any issues that arise, and take necessary actions.
FAQ
Frequently Asked Questions
In which regions do you offer rental property management service?
Our services is available to all property owners located in Tallinn or its immediate surroundings (such as Viimsi, Peetri, Tabasalu, etc.).
What is the cost of the rental property management service?
The rental management fee is 10% of the monthly rent, with a minimum fee of 50 euros. For clients with larger portfolios, we provide personalized offers where the price is determined based on the number of properties in the portfolio, their locations, rents, and any special features they may have.
How is the maintenance of my property guaranteed?
Our rental management service includes organizing ongoing maintenance and improvement works both during the rental agreement's validity and when tenants change.
How is the tenant selection process?
When selecting tenants, we conduct a comprehensive background check, which involves a credit check, criminal record check, residence permit check, and check of any public channels (such as social media, Google, etc.). Additionally, if needed, we obtain recommendations from previous landlords. At the beginning of our cooperation, we coordinate the tenant selection process with the owner, providing a clear understanding of our approach and ensuring that everything is done meticulously and professionally.
Do you also provide Airbnb management services?
While our company initially offered Airbnb management services, we have temporarily suspended this service due to the ongoing impact of the COVID-19 pandemic. The Airbnb market has yet to fully recover, and ancillary costs have significantly increased. Consequently, we find that long-term rentals are often more profitable for passive real estate investors in the current climate.
Whose responsibility is it to communicate with the housing association (korteriühistu)?
By signing the contract, the owner authorizes us to handle all current issues and problems, including, if desired, communication with the housing association and resolution of any related issues.
If I wish to terminate the contract, how long is the notice period?
In the event of a need to terminate the contract for any reason, both parties have the option to do so with a 90-day notice period.
Can I use your rental property management as a private person?
Yes, our services cater to both private individuals and companies. However, in the case of private individuals, in addition to the administrative fee, we are also required to withhold personal income tax from the rental income.
Does the rental management service include a rent guarantee?
No, the rental management service does not include a rental guarantee. However, our extensive experience in helping to find tenants nearly 700 times enables us to conduct thorough preliminary work on tenant selection. This gives owners confidence that the chosen tenant is financially stable and has a history of prompt payment. Nevertheless, should any issues arise, we will make every effort to resolve them promptly.
How can I be certain that the apartment is rented out continuously?
Over the years, we have developed a robust strategy to minimize the likelihood of vacancies during tenant changes. In 2023, the occupancy rate of the apartments under our management was 97%. It's important to note that we only earn the management fee when our clients' apartments are rented out and rents are received.
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