In order to further assist property owners our USA partners The Solution Group Corp have developed a cost effective property management and maintenance service delivered with the highest quality and efficiency.
The charge is only $80 per month for each property to assist with all property related management issues. In addition, TSG Property Management LLC (TSG PM) is a division of The Solution Group Corp provides a maintenance policy for all properties. For an additional $85 per month TSG Property Management LLC will cover all property maintenance issues such as fixing and painting units upon re-leasing. In fact, the only items not covered automatically are A/C units and appliances, and should these require repair, TSG PM would of course ask for your approval and build these into a tailor made quote. For example, companies offer a plan for $399 per year which covers repairs and replacement of appliances and A/Cs.
Lastly, through local insurance agents, policies that cover liability on premises can be obtained. These policies typically provide $1 million of cover for an annual premium of $359 for each insured property.
Example of monthly running costs:
- Property Management: $80
- HOA Fees (differs on each property)*: $119
- Property Taxes**: $143
- Insurance***: $40
The above is based on a property purchased at $129,000
*HOA Fees are only applicable on new developments & Condos but not on single family homes.
Property Tax can vary from property to property. This is 2-2.5% which is calculated on the purchase price or the fair market value of the property, but some property is calculated on the peak market value (price prior to financial downturn).
**Property Tax is paid annually and is due 1st November each year and is paid in arrears, you can have until April the following year to pay but if you pay in November you receive a 4% discount.
***Single family homes must insure all the property, Condos are normally covered structurally (roof & walls) in the HOA Fees.
The property management service is designed to ensure that your property is well managed and well maintained over the duration of your ownership. The Management Company performs a thorough background check on all potential tenants prior to them moving.