PHUKET PROPERTY MANAGEMENT GUIDE FOR PRIVATE HOMES
Siam Home Care is a division of Siam Real Estate, one of Phuket island's leading estate agents, and was set up to meet the increasing market for rentals and property management.
The market in Phuket is booming and has a very bright future for all of us who live here and own property on the island.
There is an ever increasing call for rental property, especially high end long term rentals and we presently cannot meet demand!
Our international marketing via our award winning web site www.siamrealestate.com is bringing in over 33,000 viewers a month, all looking to buy or rent property here in Phuket.
By listing your property with us you have the best chance of renting it out on a long term or short term basis and receiving top dollar, giving you maximum return on your investment.
Many of you have invested in property here and live overseas and need to know that your second home is being professionally cared for and managed and that utility bills are being paid and the grass cut.
That is just a part of what we do and we look forward to serving you!
Siam Real Estate as a professional service company is particularly pro-active and strong in International marketing and has a sister web site www.siamvillarentals.com which is a HOLIDAY RENTAL INFORMATION PORTAL providing useful info on all matters relating to visiting Phuket island, giving your property maximum exposure globally on two highly ranked web sites!
3. Renting your property
Renting out your investment is our first priority and we specialize in Short Term and Long Term Rentals from a week to 12 month + periods. This gives you maximum return.
Our fee for finding you a suitable long term tenant is 10% of the total rental figure or for short term is dependent on service provided from 15 to 25%.
It is vitally important that you put your property in the hands of a professional company such as ours to manage the property and take care of the tenants needs during occupation.
4. Unoccupied Property
Our STANDARD SERVICE covers your property when it is unoccupied and we are actively trying to find you a tenant.
SHC request an inventory list from you and do a property check before and after any tenancy and hold the keys and any access control passes.
It is important that your property is comprehensively insured against loss or damage to the buildings or contents and we insist in seeing insurance documentation prior to any tenancy.
SHC carry out a weekly property check inc. damage control, open windows and air the property, check air con units, water pot plants and dust.
SHC handle your regular utility bills and arrange payments on your behalf.
Once we find a tenant we recommend that you switch to our PREMIUM SERVICE details below.
5. Tenanted Services
We first find you a suitable tenant and check them out as much as is humanly possible from afar. We take a booking deposit to secure the tenancy prior to arrival or if already here 2 months security deposit and 1 month rent in advance which we pass to the owner to pay for any damages during the tenancy and take our initial fee from this payment.
We provide a standard Lease Agreement saving you lawyers costs of providing this important document. SHC arrange for signature by both parties prior to tenancy. If the standard agreement is unacceptable to the parties you will be responsible for any lawyers’ costs in altering the agreement.
SHC collect rent from the tenant on the due date and bank in owners bank account or as stipulated by you.
SHC carry out a “Property Check” before and after tenancy based on inventory list and original state and deduct any damage from the tenants deposit prior to refund.
SHC provide the tenant with FREE information, an orientation service on the local area and the island, where to go, what to see including other chargeable services to ensure their stay is a memorable one.
SHC carry out a deep clean of the property prior to occupation.
6. Owner Services
Once we find you a tenant, we recommend you switch to our PREMIUM SERVICE which is very comprehensive and gives you total peace of mind knowing that we are looking after your investment and ensuring you get a good return.
Our PREMIUM SERVICE is a full management service and includes all STANDARD SERVICES plus the following:
· Tenant services
The tenant can call us at any time for assistance to carry out maintenance such as air con not working, or a pool problem. They may want a taxi or to book a boat trip. It is in your interests that we keep the tenant happy thus ensuring future bookings and receiving recommendations.
· Property Maintenance
As above, SHC ensures that your property is kept in top condition at all times. When there is an emergency such as a water leak we will immediately instruct repairs, however if it is a situation where it is not so urgent we will contact you with the problem, the cost of rectification, get your approval and request you make funds available to cover the costs. For minor repairs or replacements we will rectify or replace as necessary and bill your account for example when the light bulbs go etc..
This is the most time consuming and costly part of property management and SHC will collect tenant payments, pay into your nominated account, pay utility bills, and provide you with a quarterly statement of account.
You must deposit a minimum of 20,000 THB or as appropriate in our escrow account to meet payments due and costs as per above examples. Rectification costs will be deducted from rental payments if insufficient funds in your account.
· General services
SHC can provide maids, gardeners, handyman, plumbers, electricians, pool cleaners, laundry service, babysitters, security etc.., and any service that you or the tenant request at extra cost. However, maid service is included under STANDARD service while property is unoccupied.
· Product warranties
SHC will take possession of any product warranties and if for example the fridge breaks down, arrange with the supplier to have it fixed.
SHC will stock and re-stock bathroom, bedroom and kitchen consumables such as soap, toilet paper, water, and basic necessities or as instructed by you.
· Running Repairs and Maintenance
SHC do not limit our service to just general maintenance and you may request us to source a supplier for building work or property renovation and we will vet them, quote you and oversee the work, such as repainting the exterior etc..
· Insurance cover
SHC have negotiated special rates with Insurance and can assist you in obtaining property cover as well as all types of cover including medical.
· Service Providers
SHC have a recommended list of service providers for all services that may be required and have vetted each one to ensure they maintain the high standards that are demanded.
· Taxes & Charges
Local taxes are the responsibility of the owner and Siam Home Care take no responsibility for these. Fees and charges are all subject to Vat at 7%.
See our Services and Rates sheet.
a) Letting Agreement
b) Lease Agreement
c) Property Management Agreement
(Samples provided upon request)
9. Contact Details
- Siam Home Care
- 36/8 Moo 2, Viset Rd., Rawai, Phuket 83130
- Office: +66 (0)76 288908