Property is often marketed as a passive investment. A way to create wealth without any effort or input other than cash.
Property investment requires regular and diligent input, if it’s to be profitable. Not all investors have the time, knowledge, experience, or the inclination needed to oversee a property investment or portfolio. Fortunately, here at Like-Clockwork, we do.
Our range of services are bespoke, designed to fulfil the needs of each unique property investor. A very small sample of our services are provided below. These can be provided singularly or in combination, or as a full proxy service where we handle every aspect of your property investment.
- Sourcing and selecting a letting agent to let & manage your properties
- Monitoring a letting agent’s service with regular monthly checks
- Checking landlord insurance is in place and provides the appropriate cover
- Overseeing the purchase or sale of a property including liaising with agents, lawyers and all others involved
- Checking rental income, landlord statements and receipt of nett rents in landlord’s bank account
- Producing and maintaining cash flow forecasts to plan for capital injections or withdrawals
- Managing client’s bank accounts, recording income and expenditure for a property
- Liaising with accountants (in country of property location) to check tax liability, registration requirements, year end tax returns and filing
- Project management or overseeing of refurbishments or major works
- Assistance with acquiring and running of Right to Manage company for leaseholders
- Assistance with foreign bank account set up and management.
It can be particularly daunting for investors purchasing property outside their home country. Sourcing and communicating with local service providers, understanding regulations, procedures and laws that property owners must comply with, and understanding the local customs and culture, are all critical factors in regard to a property investment.
This is something that Like-Clockwork can help you with. We have ten years’ experience of coordinating, liaising, negotiating and managing property investments in numerous different countries, for investors based all over the world.