As property owners and investors ourselves, we understand what it means to own investment property.
Renting a property can be a very stressful exercise.
Many owners prefer to leave apartments empty rather than go to the trouble of finding a tenant, arranging contracts, deposits, phone calls, rental collection, payment verification, inventory management, follow ups and maintenance issues.
JML have been handling these issues for owners for over 15 years now, and is the only company in Macau offering online property management systems to property owners that include;
- Property Management
- Asset Management Services
- Absent Owner Services
- Inventory Management
- Renovation & Furnishing
- Tenancy Management
Being landlords ourselves we have years of experience with hundreds of properties and tenants, managing anywhere from 100 – 200 properties throughout Macau at any one time.
There are many issues that owners have to be aware of. Potential pitfalls include a fast turnover of tenants, multiple legal restrictions and of course tracking payments. Macau’s sub-tropical climate creates numerous problems including such things as Super Typhoons where winds of up to 200km and heavy rainfall exposes the tiniest flaws in every building.
Damage from the humidity can be very expensive and time consuming. Owners must be beware of:
- Inventory Damage
- Wall stains
Asset Management Services
Being landlords ourselves we have years of experience with properties and we understand what needs to be done in order to keep the property value up.
Whether you are selling your property or not, there are some things owners must take into consideration. For example, Macau’s humid climate causes serious damage to a property if not looked after, and other potential problems include such things as Typhoons where high winds and rainfall expose the smallest gaps in window frames.
The damage caused by Macau’s humid climate can be very expensive and time consuming. Investors should be beware of:
- Inventory Damage
- Wall stains
Owners can protect their investment by using the “Asset Management” service. Weekly Property Management inspections are carried out, and a set of procedures are followed to minimize risk and damage to clients properties.
For full property management details or a sample agreement, please e mail; email@example.com
Absent Owner Services
Since 1994, JML has represented more than 1,000 owners, and currently has properties with a total value approaching HKD 800 Million under management.
The Absent Owner program has been operating since 2003, providing a service for owners who spend a lot of time out of Macau, yet want their property looked after during their absence.
Owners benefit from
- Weekly inspection of the property to turn on the Air Conditioning, check the water supply, check for leaks, look for mould
- Arrange any necessary repairs to keep the property in prime condition.
- Arrange basic provisions such as food items, toiletries etc for when owners are visiting their apartment.
- Payment of bills, management fees and liaison with utility companies required to keep the apartment in working order.
If you would like to more information on the Absent Owners services, please e mail firstname.lastname@example.org
Owners also have the ability to check their accounts 24/7 through the Online Management system, and JML is the only company providing this service in Macau.
As a property owner and investors, you may be worried about the contents of your property and how it is being treated by the tenant.
At JML, we lay out guidelines for tenants as they move in, and it certainly helps to ensure everyone has consistent expectations.
Every item in the property is listed along with an estimated replacement cost, letting the tenant know the value of the item and highlighting the extent of their responsibility.
In JML Managed Apartments, the full inventory is logged, priced and recorded prior to occupation, and tenants acknowledge this when they take possession.
Inventory loss & damage is commonplace in rental properties.
Aside from normal “wear and tear”, most conflicts are caused when deciding who is responsible for repair costs.
JML have developed procedures to protect owners and tenants, creating a healthy relationship between all parties involved.
Process & Procedure for Tenant
- The total inventory is recorded by the Property Officer
- A replacement cost is allocated to each item based on its age and quality
- The inventory price is depreciated over the course of 1 – 10 years depending on the item.
- Should any damage occur to the inventory due to tenant negligence, the item must be replaced or paid for according to its value.
In Macau’s humid climate, empty apartments deteriorate very quickly.
JML run a preventative maintenance program to avoid major issues, ensure the apartment is ready for rent, and prevent a build up of unwanted mould.
The property inspection takes place up to 3 times per week, and includes.
- Air-conditioning and dehumidifier will be switched on to prevent mold and fungus from occurring (This only applies to an empty apartment).
- All electrical items are tested
- Windows are inspected for signs of leakage and damage
- A monthly inspection report is compiled to record any issues
Renovation & Furnishing
We have completed more than 28 projects and 56 furnishing over the last 7 years. The majority of our projects have been investment properties with a number of homeowner projects as well
Why you should use JML for your projects;
- Years of experience in running projects; saving you both time and money
- Making the most of existing apartments layouts / features
- Using local contractors with whom we have many years of experience
- Working with local suppliers; trade discounts & special offers
- Removing the day to day frustrations of project management
- Designing a beautiful, modern & comfortable apartment with the least amount of investment
Understanding your needs and being able to deliver good solutions has given us an excellent reputation for interior projects.
As your Project Manager, we provide
- Professional standards to meet your needs
- Professional opinions
- Trust worthy contractors
- Quality Finishes
- Attention to detail
- Your ideal Investment meeting every specific requirement you have
- Attractive apartments and maximize your rental income
Interior Design for Investment
As the economy of Macau develops so do the opportunities for investments. JML has helped many of its clients achieve their goals of maximizing their rental income.
When investing in a property to rent your main goal is to invest as little as possible and maximize your rental income, it is important that your investment is attractive enough to attract tenants.
Interior Fit Out
Usually there’s work that needs to be done to your investment before it can be rented out. Installations of certain items can be crucial to attract a good tenant and to maximize your rental income;
- Maximize the apartment interior spacing (the bigger the apartment the wider range of tenants)
- Resourcing (selection of furniture based on your budget)
- Re-design and remodeling
- Renovations and Installation
- Replace electrics and plumbingas necessary
- Refurbish ceilings, doors, walls, windows, lighting, floors,
- Recommendation of sourcing and purchasing
- Furnishing the apartment
- Attention to Details
- Excellence in execution
- Staging the apartment
Knowing what kind of furniture is necessary to invest in the property
is essential when allocating a tenant, not much tenants want to move
into an empty apartment and not much tenants are willing to spend for
furniture on a property that is not theirs.
Our goal here is simple, you provide us with your budget and we will make it work, allocating a tenant for you in the shortest time possible.
At the end of the day we attract tenants to your apartment and maximize your rental income.
Representing owners and having managed over 250 properties, we understand the importance of a healthy relationship with tenants.
Background checks on tenants are conducted as standard procedure, and employment letters / references etc… are also required from tenants in most cases.
- Perform a standard background check on the tenant to identify any criminal records, current court orders etc
- Ensure that the tenant is clear on his responsibilities as a tenant, and will treat the apartment with respect
- Require the tenant to provide an employment letter stating his position and salary, to prove consistency in rental payments
- Run through a full and complete inventory check with individual pricing on each and every item in the property
Whenever we allocate a tenant for our clients, the process above helps reduce the risk to our owners and minimize rental delinquency. It does help to set expectations and avoid future mis-understandings.