MYHOME TAKES RESPONSIBILITY FOR YOUR PROPERTY!

WE GUARANTEE  THE TIMELY RENT AND UTILITY PAYMENTS!

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PROPERTY MANAGEMENT AND RENT GUARANTEE

Here You will find answers to most common questions concerning finding tenants, managing rental apartments, rent and utility billings and about the rent guarantee.

WHY IS PROPERTY MANAGEMENT NECESSARY?
What are the responsibilities of a property manager?

  • Collecting rent,
  • forwarding utility readings,
  • supervising utility bill payments,
  • organizing necessary repair works,
  • organizing necessary insurance.

​Above named is only a part of the managers obligations. In order to maintain a good relationship during the lease period, it is also important for tenant to feel that she/he is valued.

It is very important to be available for tenant and to react timely to the  concerns, even if it is  Sunday night at 23:00.
 
Whether and how you ensure rent payments?


After many successful years in this field, we are confident enough to offer rent guarantee in addition to property management service.


MyHome (as the only company in Estonia) can offer rent guarantee to all the property owners who use our property management service.
 
We guarantee rent payments to the landlord during the period when the property is held by a lessee.

How much does the management service cost?

Management service fee is 7% of the monthly rent (+ VAT). Our desire is to change the prevailing opinion in the market as if the brokerage service is unnecessary. In fact, however, for succeeding, a professional service is as important as for example regular visits to your dentist. 

MyHome has been offering property management service already for 9 years. Our main clients are foreigners who have bought properties in Estonia  for leasing purposes or Estonians living abroad. In reality, however,  all people and companies who own real estate could enjoy the benefits of property management service.​​
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The purpose of property management is:

  • to save valuable time of the owner of the property,
  • to maintain the property in the best condition,
  • to keep the tenant finding period as minimum as possible,
  • to collect the rent according to the market rates,
  • to keep a good relations between the tenant and the owner,
  • to ensure that rental and utility payments are done on time.

This is a very personalized service. We manage each house or apartment as if it were our property and the relationship between property manager and the owner is an integral part of the entire process.

How does the property management service works?

I will point out the steps of our service: 
  • the preparation of the rental property (home staging),
  • professional photos of the property,
  • proper marketing,
  • ​tenant finding process (careful background research is essential as well as brokers' previous experiences in tenant finding and property management proces),
  • tenure is prepared with a formal rental agreement. 
  • The further responsibilities of the property manager are the communication with the tenant as well as giving feedback to the owner.

WHAT IS RENT GUARANTEE?
MyHome offers a new service in the rental market in Estonia. In addition to property management service we offer a guarantee that rental and utility payments are done on time during the period when the property is held by a lessee.

In which amount the rent and utility payments are guaranteed?

By the Esonian law,  it is possible to ask a deposit of up to three month's rent. Unfortunately in Estonian market it is not realistic to ask for a higher deposit than the amount of 1 months rent. However when the tenant fails to pay the rent and has a dept of less than three months a row, the law does not allow to terminate the lease agreement. 

With our rent guarantee we offer the landlord the missing of two months worth of rent and guarantee the payment of utility bills.  The maximum amount of rent guarantee is 2000 Euros. We are also doing everything in our power to terminate the lease relationship with the improper tenant and to get back the property. 
 
How much does the rent guarantee costs? 

We offer rent guarantee only to the properties managed by MyHome, where we have found tenants by ourselves. The customers will be charged 10% from the monthly rent + VAT.

 

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For example, if the lease agreement is signed for a year, is it assured that I will receive the rent correctly during the entire year?

The rent guarantee does not guarantee the length of the lease. We guarantee payments of rent during the period when the property is held by a lessee.

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