The demand for
residential real estate trust management in St. Petersburg is gradually
increasing. Trust management allows owners of residential properties to entrust
to real estate agencies responsibility to solve all the issues regarding
premises rental, including search of tenants, preparation of lease agreements,
rent receipts, utility payments, technical support, etc. As a reward, the
agency receives 15-25% of the rental rate.
According to the
leading residential real estate agencies about 30-40 thousand apartments are
rented out in St. Petersburg, about 5% of this amount is in trust management of
different companies: estate agencies, individual entrepreneurs. The 5% mainly
include luxury apartments. As management of lower-class apartments is
unprofitable. Experts say that in the future the popularity of this service
among the owners of real estate will continue to grow.
First of all,
this growing interest in management of residential property is due to the fact
that busy people (business owners) do not want and can not engage in leasing
their residential estate, prefer to use the service of professionals.This service is
also relevant for the owners, who live outside the Russian Federation, or often
go out of the country and are not able to manage their property.
However it
should be noted that residential property management is also popular with
citizens of St. Petersburg. In summer, it allows landlords to receive income
from the rental of premises when they are on holiday abroad or in the countryside.
Another reason that the owners prefer to entrust management of their apartments
to real estate agencies is that they prefer to rely on competent professionals.
Estate agencies use their experience and knowledge to cut down time spending for
search of a tenant and to make the most profitable deal.
The development
of trust management is hampered by the fact that many owners prefer to trust
the management of their property to relatives and friends.