Punta Pacifica Realty (PPR) is raising the bar for property management service in Panama City with a new VIP service for owners of multiple units.
Clients participating in the VIP service will be eligible for a wide variety of benefits, including a designated service associate to help with any issues. The new VIP Property Manager will work with clients on everything from upkeep to billing statements.
“We wanted to differentiate the client who has one apartment from the client with 10 apartments,” says PPR Director of Property Management Eddie Montes. “Owners of multiple units have different issues and challenges and we wanted to recognize them with a customized service.”
The new service is, in part, a response to the growing numbers of investors targeting the Panama rental market. With prices soaring in many countries and wariness growing about a stock market bubble, Panama real estate offers value in a stable market with potential for a steady income and long-term appreciation.
“Investors are buying several units at a time and diversifying their portfolios,” Montes says. “Our goal is to help them maximize their return on investment.”
As reported last month, rental activity in Panama City has been steadily increasing in recent months. Inventories of available units are decreasing, leading to more competition for top units. Occupancy rates have jumped to 93 to 95 percent and rental rates for top apartments have started to rise in many of the top buildings, Montes says.
In response, PPR is expanding its property management team and adding services, with several highly anticipated new buildings about to enter the market.
The VIP service is a logical next step in the expansion of the firm’s offerings, Montes says. Regular clients will still receive the same top-flight service as always, but the VIP manager and the dedicated service will streamline the process and ensure owners with multiple units receive the additional levels of attention they need. At the same time, they won’t be taking service away from owners with single units.
“We really feel this is the best way to customize our service and make sure we can provide the attention to detail for all our clients,” Montes says.