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In 2023, Bali was ranked #2 on Tripadvisor's Most Popular Places to Travel... Wow! This means that if you're buying a property to be rented out, you should have no problem with demand. But you not only have to buy the property, you also have to run it, which is a complex task. In this article, we'll take a look at how to run a property in Bali and how Turnkey Scheme can relieve you of these stressful tasks.
Table of Contents
The tasks involved in letting the property
Without being exhaustive, here is a list of the most common property management tasks:
- online marketing of your property
- listings on tourist sites (Booking, AirBnB, etc.)
- booking management
- check-in, check-out
- communication with guests
- cleaning
- inspection and maintenance of the property
- maintenance of the garden and pool
- accounting
- etc.
To carry out these tasks, you should look for a Villa Management service provider. Although there is plenty on offer, choosing the right contractor is not an easy task, especially without local knowledge and a personal presence. During the operation it is worth checking regularly that everything is going well. Some people also hire an auditor or consultant to keep things in order, which complicates the task...
Well, the Turnkey Scheme is designed to take all these stressful tasks off your shoulders.
What is a Turnkey Property?
In Bali, a villa or apartment is called a Turnkey Property if it is not built as a permanent residence but specifically as a holiday home and is offered for sale with a full Villa Management service. The management service provider is usually under the control of the property developer, a sub-company or division of the property developer. The word "turnkey" in this context indicates that the property is ready for business use immediately upon delivery. This means that you have nothing to do but enjoy the regular income without having to worry and deal with the management tasks.
Further advantages of the Turnkey system
Better maintenance
As the maintenance is carried out by a subcontractor of the property developer, all documentation and supplier relationships for the property are available. Damaged upholstery? No problem, they have the contact details of the manufacturer who will commission the repair in exactly the same colour and material as the original. Is the smoke alarm faulty? No need to guess, a few clicks and you order the same type from the same manufacturer.
Quantity becomes Quality by design
Turnkey Villas and Apartments are often built in complexes, in them there are many shops and services to enhance the comfort (restaurants, bars, gym, spa, playground, sauna, reception, etc.) The fact that these many systems can work together seamlessly is not by chance, but by design: the Real Estate Developer has already designed the complex with all the management services included. And because it's not just a few properties, but 50 to 100, it can keep almost all the processes under its own control, with permanent staff, spare parts stock, etc. This is how quantity is transformed into quality.
Nowadays, most of the new build properties we offer are built on a turnkey basis. Take a look at our selection!