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RENTAL MANAGMENT

Our rental management service will provide Condominium owners with the opportunity to lease their condominiums without having to worry about the day-today concerns related to being a landlord. Our team of specialists will manage the entire rental process of tenant selection to rental revenue collection and summarization to maintenance repairs, providing both individualized service and flexibility.

Tenant Management Services

Tenant Selection

Our tenant qualification process for long term (3 to 6 months) will include the utilization of credit approvals, verification of employment and all personal references, as well as communication with previous landlords and financial institutions. After the tenant has been approved, the tenant will make the respective deposits and first months rent.

Administration of Leases

We oversee all aspects of lease administration including initial lease preparation, renewals and terminations. It is our policy to ensure that the property and the investment of the owner are protected through the use of specialized contractual agreements with tenants which reinforce aspects of Panamanian laws as per the Ministry of Housing (Ministerio de Vivienda, "MIVI") and set compliance with Condominium Corporations legal requirements including specific covenants regarding the use of common areas, etc.

Management of Monthly Revenue Collection

This portion of our service includes any and all processes involved in collection of rent revenues up to and including administration of legal situations on behalf of the owner if necessary.

Property Management Services

Repair Management and Home Preparation

Our team of specialized repair management representatives will personally oversee all repairs and installations required for Condominium preparation prior to leasing, during the course of a lease and upon vacancy.

Emergency Service

We will offer a 24-hour Property Management Hotline for after hours service for tenants to report emergencies.

Financial Services

Operating Overhead Management

We will manage and coordinate payment of all operations-related costs on behalf of the owner. Operating expenses can include suite preparation for the tenant, repairs, renewal costs and advertising expenses. We will also offer a common Expense Payment Program for owners of registered condominiums. We will ensure that the Common Expense Fees for the condominium are paid on behalf of the owner from the gross rental revenue.

Liability & Fire Insurance Administration

At the Owner's request, we will be able to arrange and administrate the liability & fire insurance for the condominium. Due to our vast portfolio of condos, we are able to negotiate insurance fees significantly lower than what may be obtained by owners acting individually.

Client Services

Frequent & Convenient Communication

We will provide regular reporting of the status of your condominium, full accounting including of rental payments, gross rental income earned, operational costs, tenant information, management notes, etc..

Owner Representation

At the owner's request, a member of our team will represent the condominium owner at any specific condominium corporation general or special meetings. This service allows owners to be confident that their interests are being represented even when they are unable to personally attend these meetings.

Cost effective Re-Tenanting

We coordinate as many appointments and showings as are necessary in order to procure a successful tenancy. Our goal is to have a vacancy rate of less than 1% for our entire rental management portfolio. To reduce individual owner costs, advertising is funded through a centralized marketing pool. This pool coupled with our high tenant retention rate ensures lower costs for each owner in the program.

Our team is committed to providing you with the best possible service and the best value for your Condominium. It is our mandate to economically and efficiently manage your condominium.

Rental Prices

Rental prices will vary depending on the size of the unit, season, and lease term. Please contact an Embarcadero sales representative for more details.