WITH THE POUND ON THE FLOOR

Villa and apartment owners might be tempted to make savings by turning to DIY property management.

But there are many practical reasons why PROFESSIONAL property management in Cyprus is a sensible idea. Cyprus may be blessed with an excellent climate compared to other parts of Europe but your Cypriot home will still need care and attention to combat the worst the elements can throw at you. A variety of internal problems e.g. leaks, infestations can occur without warning in even the newest of properties. If your property is left empty for most of the year, problems might go unnoticed for too long. The last thing you’ll want when you or your guests arrive for a relaxing break in your holiday home is to find any unwelcome and costly surprises, which makes finding a reliable property management company in Cyprus more and more of a necessity; it’s an insurance policy against anything going seriously wrong with a property, while the owners are not there.

Companies such as ours Oceanview Services are the owner’s trusted team on the ground providing a variety of property management services in Cyprus, including regular property inspections, repair and maintenance, gardening and cleaning, plus all the marketing expertise and resources needed to maximize rental income from holiday lets. One of the most important things a property management company can do is give owners the feeling that they are still in control of their overseas home wherever they happen to be.

Our company Oceanview Services has a password-protected owner’s area on our main website where owners can read inspection reports about their property, request cleaning and maintenance work, manage their rental bookings and their own personal visits calendar, and even book car hire and transfers.

Despite the comprehensive services many companies are offering, some owners simply see property management as a luxurious extra they can’t really afford at a time when the euro is so strong against the pound. I think this is a short-sighted and risky view. In these tough financial times, smart owners understand that investing a little more in property management means their holiday home will not only be kept in good condition, but that they’ll also get expert help in generating secure rental income. They also know that when the current economic crisis is over and property markets recover, their villa or apartment will have held its value because it has been properly managed and maintained. Owners who try to cut corners risk things going very wrong and potentially losing a lot of money.

Unfortunately, one of the knock-on effects of the economic downturn is that more long-term tenants are defaulting on rental payments, some disappearing completely, leaving properties badly damaged. Burglars are increasingly seeing unoccupied properties as soft targets. The bottom line is that property management might cost you more than you would like to spend, but in return you’ll get absolute peace of mind from knowing that your holiday home is being cared for by professionals, and that you’ll be getting the financial and legal resources you’ll need to in order to help protect your property.

Once you have a shortlist of potential companies, write a checklist of the things you’d ideally like them to handle for you, and shop around to see which company best meets your needs.

Ask for proof that they’re trading legally, many are not which could cause serious legal problems, especially if anyone is injured while working in, or renting, your property.

Good communication between you and your management company is vital, so make sure someone will always be there to respond quickly to your telephone calls, e-mails or fax messages. Look for a company with experienced staff to help you resolve time consuming issues with local authorities, or utility companies, and one that will also act as your legally required official key holder.

With a good property management company to support and help you, owning a second home abroad – even in these gloomy economic times – can be the stress-free dream you always wanted it to be.

Our Head office is manned 7 days a week 8am – 2am

Sarah & Stephen Lee
Directors
S.L. Oceanview Services Ltd