IBP Real Estate Property Management Services

IBP Real Estate Co., Ltd. (IBP Real Estate) Property Management services provides owners of residential properties with professional property management services.

As a property owner who is not living in Thailand, it may be difficult to deal with matters pertaining to your property in Thailand. For example, if the property requires repair before being placed on the market for rent or if the tenant is in default of his rent payments, it may be difficult for such a property owner to be physically in Thailand to see to such matters. Furthermore, if you are not able to communicate using Thai, it may be difficult for you to deal with other parties in Thailand. This is where professional property management services will step in. At IBP Real Estate, we will act as your agent to deal with all matters relating to your property. Our aim is to make your property ownership in Thailand a fuss-free one.

What services are available under IBP Real Estate Property Management?

For property owners of newly completed properties, you may engage us to:

• Inspect your newly completed condominium for you and liaise with the developer with regards to the rectification of defects.
• Assist with the opening of a bank account in Thailand.
• Furnishing of the unit (this is essential if the unit is not completely furnished, and it needs to be furnished before placing it on the market for rent).
• Oversee the renovation of the unit (this includes overseeing the whole renovation process, communicating with the renovation team on your behalf and providing periodical updates).

For all property owners, you may engage us to:

• Market your property for sale or for lease. We will tap into our extensive network of agents as well as advertise your property for sale on all the popular platforms to ensure that your property gains maximum exposure.
• “Home-stage” or prepare your property for viewing. This will increase the chance of the property obtaining a good offer as it will help the property to stand out against other properties in the market.
• Conduct viewings with prospective tenants, buyers and agents.
• Screen prospective tenants with the aim of securing a tenant with your preferred profile.
• Negotiate with the prospective tenants, buyers and agents to obtain the best price for your property, be it for rent or sale.
• Collect and deposit security deposits into your bank account once the deal has been agreed.
• Furnishing the unit and replacing or repairing damaged items (this is essential if the tenant has specific requests or the property has been damaged from previous inhabitants or through usual wear and tear).
• Prepare the lease agreement and inventory list.
• Handover of the property to the tenant (these include registering the tenant with the juristic and immigration offices).
• Monitor the monthly rental from the tenant (includes sending monthly reminders to the tenant for payment of rent).
• Liaising with the tenant on any issues with regards to the property during the tenancy period.
• Inspection of rented premises at the end of the tenancy when the tenant returns the unit to you.
• Deal with difficult tenants (these include instances where tenants breach the tenancy agreement or have done something against the laws of Thailand. We will assist to lodge a police report and liaise with the juristic office of the development to regain access to the unit).
• Collect and pay the monthly utility bills on your behalf. This is necessary when the unit is not tenanted. The Metropolitan Electricity Authority (MEA) will suspend or terminate the utility account if there are arrears. A fine and reinstatement fee will be levied when reinstating the utility account.

Note: Commission for sale and purchase/ leasing of property, cleaning, repair, utilities and condo management fees are not included in the IBP Property Management Package.

Note: Please refer to our ad-hoc services price list for ad-hoc services pricing.

Services under the IBP Real Estate Property Management Package:

• Advertise your property for lease
• Conduct viewings with prospective tenants and agents
• Carry out tenant screening and negotiation
• Collect and bank in rental security deposits
• Prepare detailed property photo inventory
• Prepare Rental Lease Agreement
• Arrange cleaning and air-con servicing services for your property before tenant moves in
• Prepare and collate keys, key cards, car park stickers/transponder
• Handover your property to the tenant
• Follow up with tenant on resolving any issues that may arise
• Monitor prompt monthly rental payment
• Inspect your property when tenant moves out
• Prepare move out agreeable with tenant on repairs required
• Arrange for any maintenance and repair, if required
• Pay water bill while property is vacant
• Pay electrical bill while property is vacant
• Pay Property Tax on a yearly basis according to the Thai Law
• All other related services (where applicable) 

IBP Real Estate Property Management Package Annual Service Fee:

One Bedroom: 20,000 THB
Two Bedroom: 25,000 THB
Three Bedroom: 30,000 THB

Exclusivity of Services

The manager has the right to manage and lease Property during the duration this agreement.

Agency Appointment

The manager shall be considered an agent of the owner, acting on behalf to perform the necessary actions, which include but are not limited to, the eviction of tenants and/or the collection of unpaid rent. The manager has the right to enter the property at any time during the length of this property management agreement in event that the tenant defaults on rental payment or in case of emergency, subject to prior approval by the owner.

Property Sale

In an event the owner puts up the property for sale during the duration of this agreement:

• The manager is permitted to list the property for sale based on the set list price which is determined by the owner. The commission rate is to be determined separately.
• If the property is sold, the manager will refund the pro-rated unused Property Management Package Annual Service Fee to the owner. The end date will be based on the property transfer date.

Commission 

Ad-hoc Service Table