Many American clients are unaccustomed to the idea of having a property manager overseeing a personal residence, but in San Miguel de Allende, it is common practice! Here at Berkshire Hathaway HomeServices, we always encourage our clients to engage a property manager, and we have a great referral just for you!
You’ll find multiple benefits to having a property manager here, not the least of which is affordability—typically under $150 USD a month. A bilingual property manager can prove invaluable for those middle-of-the-night emergencies—a broken pipe, cut-off electricity—when you need English-speaking assistance to call that Spanish-only speaking contractor. And that contractor will actually pick up the phone in the middle of the night because your property manager sends him all his business. Good luck trying that midnight call on your own!
The property manager’s role begins even before closing on your new home because we encourage that your new property manager conducts a final walk-through of your new home—we coordinate that for you—with the current Seller and current property manager so they can learn all the idiosyncrasies of the home and mechanical equipment. Immediately after closing, the property manager can then coordinate transferring all the utilities to your name, saving you multiple hours at each utility agency working with Spanish-only staff. Their role then continues by finding cleaning and gardening staff for you, if necessary—maid service costs about $4.00 USD per hour---and paying that staff, as well as paying utilities. For example, the local water company has no electronic payment system, your water bill must be paid in person!
Your property management team can often even manage substantial renovations, if you plan to update your new home. They have an existing roster of subcontractors in every specialty, from plumbers and electricians, to wrought iron people or roofers. Want a new pool or hot tub? They can help manage that too!
Finally, many of our expat clients choose to rent their home for the months they are not living here. The short-term rental market is extremely lucrative in this town—in 2018, we had three million visitors here, as example—and that rental income can not only easily cover your annual carrying costs on your home, it can also provide an additional Return on Investment. Our property management firm charges a 20% fee on the rental income stream to place your home on all the short-term rental platforms, as well as on their own site. They then manage all rental inquiries, meet guests, and conduct post-rental walk-throughs. Your second home in San Miguel de Allende can actually help pay for itself!
Ask us about property management, we’re happy to send you in the right direction!
Ask us about property management, we’re happy to send you in the right direction!
