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:
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
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
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
- 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.
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.