Surprisingly, sometimes it is not enough for the owner to determine that they want to sell the apartment, but they have to take the decision through their property manager. Sometimes, the property manager is the biggest obstacle of the sale.
Why would they do so?
Not all of the management companies are dealing with property sales, even if it is stated on their website. Smaller companies managing a few hundreds of properties, sell their managed apartments, which means less revenue to their company. For a company dealing with more hundreds of properties, it is not a problem to sell one out of their stock. Every time we sell a property, our income decreases. In contrast, a bigger company which manages hundreds of apartments and deals with other services beyond property management can.
How can they practically prevent the process?
A few examples:
- Advertising the apartment on the wrong price
- Revealing only on their own website rejects cooperation with external agents
- Database marketing is not in use
In these cases the owner only receives the following answer: “Unfortunately, there were no enquiries”. Obviously this is not in the Landlords best interest.
If the owner would want to put an end to this, and rely on another company, there may still be problems :
- They would not work with the new trustee
- They would not give them keys - even at the request of the owner
- They would not show the apartment
- They would not set dates for consultation with the tenants
The salesperson would always receive the following answer when asking for the keys: “The key is not here”, “The owner did not inform us” or, “The responsible person for it is outside of the office”
What is the solution?
If you really want to sell, you need someone who really does something in correspondence. Sometimes it is worth to switch to another management company, which truly deals with the selling. It is easier to manage the entire selling process, if the threads come together at one company; they inherent the key, they communicate with the owners, the future buyers and tenants, and also have the interest of sales. In particular situations, a few months gratis service can be granted, until the property will most likely be rented. A company with such services serves no need for waiting, until the end of the rental period.
Read our article about the option of switching management companies whilst occupied by a tenant.
Source: towerbudapest
