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Promising real estate service – property management

Not so long ago, the real estate market began to provide a new service for Russians, and quite popular abroad, the management of real estate by proxy. The essence of this service is that when the owner of the property (residential or commercial) can not or simply does not want to deal with the management of any property, he entrusts the management of the realtor.

This situation may occur, for example, when the property is located in another city and got a new owner inherited. In this case, the owner of the object enters into a contract with a local realtor, or real estate Agency, under which he transfers to him all the powers to manage the apartment (for example, renting it out). The owner of the apartment does not have to take care of cosmetic repairs in the apartment, place ads, meet with potential employers – now all this is in the competence of a Trustee.

“Fascinating” procedure of control over utility payments and rent collection, too, pass to the realtor. The contract of trust management of real estate is made in a written format. The parties to the contract receive legal status – the owner is now the beneficiary, and the realtor is the Manager. Now, based on the provisions of the contract, the Manager has the right to sign on behalf of the owner of the contract on property insurance, leasing, etc. But to sell the property Manager can not, because it is not the owner. The contract must indicate: the name of the beneficiary, the list of property that the owner transfers to the trust, the form and amount of the Manager’s fee, the term of the contract (but not more than 5 years). Once every six months or a year (stipulated in the contract), the Manager shall submit a report on all the activities of the trust management of the property entrusted to him, on the costs and income incurred.
The Manager is able to calculate various options for managing the object and focus on the most promising, as he knows all the nuances of the real estate market. By choosing a new form of real estate transaction – trust management, the owner receives the maximum possible income, even taking into account the remuneration paid to the Manager.

 

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