If you were to ask anyone what the first thing that comes to their mind when they heard the Philippines, they would most likely answer the 3Bs. Well, they are not wrong since this country has been known for winning beauty pageants, basketball games, and boxing matches.
But apart from that, the Philippines is also known as one of the largest archipelago nations in the world. With 7,641 islands, there are endless things anyone can do. From building beautiful resorts to condominiums, this place is a gold mine. There is no wonder why many foreigners are continuing to invest year after year.
As a local and a business owner with enough money to spare, you should do the same thing, too. Out of all the business ideas, the Philippines is a great place to build luxury real estate.
As you already know, many Filipinos dream of owning a home of their own. Unfortunately, not everyone had a chance to have one. According to Philippine Statistics Authority (PSA), only two in every three families owned a home to live in, and the rest are most likely renting or have nothing at all.
With those facts in mind, is not that enough to consider real estate as your next venture? If you also think it is a good idea, build sustainable living spaces so your compatriots would have a chance to live in a comfortable place. Of course, if you cannot do it alone, let property developers in the Philippines help you out.
What Are Property Developers?
The property developers in the Philippines are the same as everywhere else. They are experts in developing and redeveloping a property. That is why they know many things, from a complete understanding of planning laws to construction requirements.
By hiring them as your partner in property management, you could do a lot of things. All you need to do is rely on all of your ideas. Make sure you listen to their opinions aftward before making a decision. Otherwise, hiring them will be for nought, and you would not achieve your goal—to build sustainable living spaces.
In summary, their property management in the Philippines will help you achieve your goals much better and quicker. In simpler terms, here are the things they could do for you.
As you can see on the infographics, the job of property developers does not end after the construction project finishes. They could also help you market the Philippines luxury real estate you built.
Why Is It Worth to Hire Property Developers?
Having a real estate investment is indeed incredible. Besides the profit you would make, you could also help many people who want to own a home of their own.
But property development is like answering riddles. If you do it alone, it might take a while before you can answer one. Sometimes, you might find yourself wondering what you should do so you would not waste time. Well, the answer is simple, rely on experts in property management in the Philippines so your project will go smoothly.
To break down why hiring them is worth it, read the listicles below.
GAIN TECHNICAL KNOWLEDGE.
Like in other industries, real estate developers in the Philippines used terms to describe things. If you are not in the field of property management, it would be hard for you to understand them, let alone use them as your own.
That is why before you start your construction project, hire experts in that field. Doing so would not only help you throughout the entire process. Also, you could expect them to explain things to you so you would not get confused.
SET UP A PLAN AND SPECIFICATION.
You may have the money to build a Philippines luxury real estate but not knowing about the sizes, designs, and layouts can be a problem. Even though you can search for things online, you cannot exactly build one without any skills or experience. And those are what property developers could offer. Once you hire them, they will plan things for you and tell you which one suits your property the most.
GET THE PROJECT DONE QUICKLY.
The best thing about condo or property developers in the Philippines is that they will finish your project on time. Of course, that would only happen if you are willing to cooperate and do not impulsively change decisions once made.
Therefore, when you hire these kinds of experts, make sure to think things through before deciding. Note that your choice can impact everything, from workers to expenses.
HELP MARKET THE PROPERTY.
Another property management service they could do is to help you promote your real estate property. For example, if you recently built a condominium, they will find potential buyers that would like to live in the sustainable living spaces you made.
There are two ways they can do it. One is to post ads online, and the next is to set up a stall in malls to hand out flyers and brochures to the people passing by. Either way works since, as mentioned above, many Filipinos want to have a home.
Once potential buyers reach out, the property developers will help you screen possible tenants. Doing so ensures that all of the occupants can live in harmony with one another. Also, they have what it takes to take care of your real estate property while living there.
Nevertheless, here is how they screen tenants.
- Renting for long-term use.
- Can pay rent on time.
- Cause fewer to no problems.
Considering these three helps a lot, so no problematic tenants could wear and tear more of your real estate property. As such, it would last for a long time.
FACE FEWER LEGAL PROBLEMS.
When you have property developers by your side, you would not have to deal with things alone. They can help you handle all the financial and legal issues caused by your tenants. That means they would protect you at all cost from potential lawsuits. As such, that saves you from experiencing headaches and wasting your time and energy since they will do it on your behalf.
While it is also good to do things by yourself, it is an edge to have someone who can take a few loads off your shoulders. As such, with experts by your side, you would not have to worry about whether you can handle everything needed for property management in the Philippines.
How to Hire Property Developers?
Whatever plans you have, you made the right choice. Having property developers by your side in the Philippines would surely help you a lot once you venture into real estate property.
But since you are hiring one for the first time, you are probably clueless about what you need to consider. That is why take a closer look at the listicles below.
VERIFY REGISTRATION, BOND, INSURANCE AND INFRACTIONS.
Once you have a list of property management companies in the Philippines, check if they have the right license and work with an insurance company. Note that a reliable firm has both of these, so if one does not have the other, look for another property management firm.
CHECK THE HISTORY, CREDENTIALS, AND REVIEWS.
Another way to narrow down your choice is to take a look at these three things. Here are the reasons why you should check on these.
- History: Knowing when the property management firm starts allows you to grasp how experienced they are.
- Credentials: Besides their years of experience, there should be something that would prove their skills and excellence.
- Reviews: To guarantee their words are not just empty premises, read customer reviews. Their feedback would give you the answer to how good their property management services are.
EXAMINE HOW MUCH THE PROJECT WILL COSTS.
How the property developers arrive at the quoted fee requires asking a lot of questions. As a business owner yourself, you should know that there is a breakdown in every expense.
That is why while they are still discussing this matter with you, ask them if they could list down what property management services included on the fee they quoted. Once you know what those are, it would be easier for you to decide if you should hire them or not.
LEARN ABOUT THE TEAM AND POTENTIAL SUBCONTRACTORS.
Since constructing a building could take several months or a few years to complete, you need to know who will supervise your project. Doing so should help you figure out if those people are skilled enough and would not cause any problems during the construction.
If you cannot meet them in person, ask for their details so you could check who they are and what they can do. Also, make sure to see if there will be any additional charges if your preferred firm hires subcontractors.
DETERMINE HOW THE PROJECT WILL GO THROUGH.
When it comes to constructing a building, it may fall into two major delivery methods. One is design-bid-build, and the other is design-build.
The difference between the two is that the former hired separate experts to complete the project. Meanwhile, the latter is something you fully entrust to your preferred property management firm in the Philippines.
Remember, whatever you do and don’t do would affect your plan. Therefore, when searching for property management companies in the Philippines, you understand everything as clearly as possible. That way, you would not encounter any problems that would make your regret your choice later on.
What Mistakes Should You Avoid When Hiring Property Developers?
Since constructing a building is a tremendous investment, you have several factors to consider, so money, effort, and time will get wasted. Given that no one is perfect, there is a chance you would make mistakes when hiring property developers in the Philippines. Of course, to not let that happen, knowing what you should not do helps a lot. Therefore, make sure you take note of the following.
IGNORING THE RED FLAGS.
Many people say ignorance is bliss. But when you are a business owner and a real estate investor, this attitude would not help you anywhere. As much as possible, besides looking for land developers in the Philippines that share the same interests as you, they should not have any red flag that would turn you off. Here are just a few of them.
- Poor customer service.
- Late updates.
- Lack of staff.
RUSHING THE PROCESS.
As you already know, rushing things does not do good. It always ends up a disaster. That is why do not just hire anyone you found first. Just like when you are hiring an employee, do it one step at a time. Doing so should help you if their property management services are worth it or not.
HIRING OUT OF FAVOURS.
Having friends is a great thing, but they are not always the ones who can help you. Sometimes, hiring a stranger is better since they have no relationship with you, and you can treat them as it is.
Besides, if you hire someone you are close with, you might ruin your friendship because you do not agree on one thing about work. Therefore, hire land developers because they are qualified and they could help you build what you want.
Taking your time in the hiring process will surely help you find the right expert for the job. That is why you should think things through and ask others about their opinion. Doing so should help you not commit any mistakes.
Be Smart When Hiring Property Developers!
Being able to earn a profit and help other people achieve their dreams is one of a kind experience. But since constructing a building is not that easy, you would need all the help you can get. Make sure when you think it is time to invest in real estate property, do not forget to hire property developers in the Philippines. Doing so ensures your plans will go well.
But in case you do not know which property management companies in the Philippines you should seek help, go to Arthaland. They can help you build the most sustainable living spaces that people would love.
If you are interested to know about their property management services in the Philippines, give them a call at +63 2 8403 6910! Or leave them a message on their website.