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10.06.2013 Residetial property trust management
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.