Property management and virtual management
Period villas amidst flower-filled meadows and vineyards, golden farmhouses among the vineyards, refined apartments in historic buildings, hip town houses… there’s no end to the amazing, and diverse, properties one can find in Italy. And there’s no end to how profitable they can turn out to be. Yes, aside from their charm and the countless attractions they are surrounded by, real estate assets in Italy provide their owners with an exceptional bonus: they always pay dividends!
Indeed, many a traveler has fallen for one charming property or another, dreamt of relocating and bought it, and many a far-sighted entrepreneur has chosen to purchase real estate in the land of la dolce vita, sure to profit by renting it out on a short-term or long-term basis.
Yet, the Italian real estate market has its own rules, procedures, and “customary ways”. These can often prove to be somewhat intricate to understand, and at times vexing, for a foreign prospective buyer or proprietor, both because of the language barrier and due to a foreigner’s natural unfamiliarity with Italian law.
The manifold rules established by Italian legislation, and the diverse bureaucratic requirements implied in property purchase and management, often quite obscure and ambiguous to Italian residents, can be definitely numbing if one is not at all knowledgeable about local rulings. The language barrier makes everything all the more bothersome, starting with the very first phase of one’s endeavor, i.e. finding and choosing the right property, and dealing with the legal and technical due diligence. After that, one will have to negotiate a good deal and finalize it by finding a notary in compliance with the full legal procedure. Then the property will have to be advertised, rental contracts will need to be drawn up, and maintenance of the property carried out.
Can a non-Italian national manage it all, and actually make a profit? Definitely yes, as long as one can count on trustworthy support on-site.
The best option, no doubt, is having one single well-rounded team of experts in real estate, property law, accounting, restoration and hospitality business management on one’s side. A group of proficient professionals, with long-standing experience in all that concerns real estate – from purchase to renovation and implementation, from rentals to day-to-day management and maintenance – ensuring our clients flawless proceedings and a fruitful investment.
There’s no doubt that entrusting one’s property rental management to professionals is a good idea. In fact, market surveys show that, compared to a standard Italian 4 × 4 rental contract, short-term leases yield a higher annual income (average +15-25%, up to 50%, before taxes and net of costs). Plus, new tenant sourcing is always taken care of in a timely fashion, the optimal sale price is always applied, and professionals are in charge of hospitality, cleaning, reviews etc.
Comprising insightful real estate agents, surveyors, brilliant architects and engineers, and resourceful lawyers and accountants, our crew of skilled English-speaking pros is eager to help, reliable and honorable. That’s why we operate as we do, on a clear-cut percentage basis, tailoring our services to fit our client’s specific needs.
In detail, we make our clients’ lives easier by providing a wide range of diverse services, including:
- Prepping, furnishing and decorating the property in order to make it appealing to its main target audience (i.e. especially designed to please travelers, students etc..) carefully studied to correspond to the tastes and desired style of the target audience – be this mainly tourists, students, or long-term rentals.
- Advertising of the asset: our technical experts are virtuosos in creating photo books and videos, and our network of contacts allows access to the most sought-after rental websites.
- Drafting of rental contracts.
- Taxation advice: consultancy and assistance on matters concerning the real estate asset’s taxes, including the tourist tax.
- Dealing with the due administrative, legal and bureaucratic requirements, comprising, but not limited to, registration of the property with the authorities, registration of the lease agreements with the local Revenue Agency, drafting of an Annual Rental Income Statement mandatory by Italian law, and when needed legal representation via a POA (Power of Attorney) act.
- Utilities and security systems installation, maintenance and payment
- Hospitality-related assistance, such as cleaning, check in, emergency support etc.
And seamlessly delivered straightforward periodic reports in English on the state of the property, income, market trends etc.
In addition to the above, we pride ourselves on being able to offer our clients a trailblazing asset: our specialty is virtual property management.
What this means? It means we have the know-how, expertise, and leading-edge tools to manage a vast range of diverse properties located everywhere in Italy, independently of the rental period. We can do it all, allowing our client to enjoy profits only, or, should our client prefer overseeing rental management directly, he/she may do so easily by publishing the property on the websites and handling correspondence and agreements with the future tenants.
In a nutshell? We wipe out the hassle, deal with the requirements, and allow owners to experience the pleasure of… being an owner!