Frequently Asked Questions (FAQs)
Why do I need Property Management?
Owning a property requires commitment which may prove to be very stressful while trying to manage other daily commitments. Often times the owner alone cannot manage the frequency with which tenancy and maintenance issues arise. Also there are a variety of other matters that a property manager can help with including documentation, acting on behalf of the landlord where lease agreements are concerned in addition to dealing with contractors and marketing the property. Property Management is ideal for homeowners who don’t live on island, travel frequently or just don’t have the time or expertise to handle the day-to-day activities associated with the property.
What are the terms of your property management agreement?
Terra Caribbean has a detailed agreement that is of benefit to both property owners and Terra Caribbean. A draft agreement is always sent with proposals for the client’s perusal.
Is there a start-up fee for property management?
There is no start-up fee required. Property Management fees are due at the beginning of each month.
What are your fees?
Fees are a flat monthly charge and can vary based on the property size, features and scope of operations. Each property is different and unique. The fees are usually determined after an initial walkthrough of the property and a detailed discussion with the owner to assess the needs of the owner.
What type of properties do you manage?
Terra Caribbean manages any type of property - residential or commercial, simple or complex - anywhere on island. Our services are offered for both tenanted and vacant properties.
Can you help me upkeep my investment property?
Yes, that's part of our job. We work with contractors we trust for various repair jobs, which can save you money and time. In addition, we negotiate contracts for housekeeping, groundskeeping, pool services and many other services.
Can you help me with administrative and financial details?
Yes, of course. Generally, we handle the financial operations of the property, ensuring that rent is collected and that taxes, insurance premiums and maintenance bills are paid on time. We prepare financial statements and periodically report to owners on the status of the property, occupancy rates, dates of lease expirations, and other matters such as maintenance work.
Can you help me find and keep good tenants?
Yes, we can! Often, good tenants will rent only through a reputable property manager because everything from initially viewing the property, to negotiating and signing the lease agreement, to dealing with maintenance and repairs, to making rental payments is more efficient and streamlined if a professional company located in the area is coordinating providing the service.
Do you deal with tenant/guest concerns?
We have a broad base of resources and will promptly respond to enquiries from tenants/guests. Our broad base of resources allow us to promptly respond to all enquiries and reports about maintenance to be coordinated and completed in a timely manner and at a quality standard.
How do you make sure the tenant takes care of the property?
The property manager conducts routine inspections to ensure that everything is in order.
What happens if a tenant gets locked out of my rental property?
The property manager is only one call away and has copies of the owner's keys for the property to give the tenant access as deemed necessary.
Will you be available if there is an emergency during off hours?
Though office hours are 8:00am to 4:30pm Mondays to Fridays, our property management team is on call 24/7 even on public holidays.
Does it make sense for me to hire a local property management company to manage my property?
Yes, certainly! Since we are based on island, we are able to keep an eye on your property and tend to find problems sooner and correct them more efficiently.