Real estate law

Real Estate Management

Italy is a country that lures people from around the world with its rich history, gorgeous landscapes, charming countryside farmhouses, historic city center apartments, and picturesque coasts lined with villas and bungalows. The real estate business, both in the form of short-term tourist rentals and long-term purchases, is one of Italy’s leading industries. So, it is not surprising that it is one of the most desired countries that foreigners choose to live and invest in.

Real estate and urban infrastructure management

The dream home that you purchase is not only a perfect getaway, but also a real estate investment that can produce income while you are away or until you are able to relocate. In addition, you will be able to deal with the blooming Italian urban infrastructure scenario, as the private sector is more and more responsible for second-level public infrastructure, the non-essential one.

But managing a property in Italy can be challenging and complex for a foreign non-resident not familiar with the local real estate business. Keeping it vacant will cost you a lot in terms of taxes and maintenance costs. We are here to help you easily rent and/or turn your property into a thriving business and help you make your investment profitable, even from overseas.

IRECOM is a group of highly proficient professionals with extensive, long-standing expertise and deep-rooted knowledge of the Italian market. We are comprised of real estate agents, surveyors, architects, lawyers, and accountants offering multifaceted services in real estate management, ensuring clients the highest return on investment possible. We are a single network that takes care of all aspects of your real estate investment. We will help buyers gain familiarity with the local real estate market, conduct business with real estate agencies, and most importantly, choose the right property. Once you have found a property, we help you negotiate and close the deal in compliance with the full legal procedure and offer you a full range of professional services related to the construction, restoration, renovation, and furnishing of the property. Are you looking for some good investment in Tuscany? Here at IRECOM we also got some the best property manager in Firenze.

property management Italy

When a lease turns into a job

Our commitment to your satisfaction and financial success of your property continues after your property is ready to be rented. The idea that you can just hand over the keys and collect the rent is a myth. Experienced landlords know there are diverse, time-consuming, and sometimes troublesome issues involved in renting a property. Sourcing and managing tenants is not a hobby. It’s a real job and a potentially challenging one at that. A foreign owner residing abroad may become overwhelmed by the responsibilities and commitment involved. There are many reasons why an owner can’t or doesn’t desire to manage their property. Perhaps you prefer not to have a direct relationship with your tenants. You may have too many properties to manage yourself. Or perhaps, you simply don’t have the time. So, why not have a professional do it for you? 

Quality real estate management guaranteed

IRECOM is experienced in finding the ideal tenants. We interview, credit check, and reference check prospective tenants to find responsible and dependable tenants for you: those that pay the agreed upon rent on time and don’t cause damage to the property. We provide a full spectrum of diverse services including: 

  • Property furnishing and decor in line with the tastes and style of the target audience.
  • Property advertisement including a photo book or video presentation of the rental and publication on the main distribution channels, including our own.
  • Tax advisory services: registration and tax documentation submittal to the appropriate authorities in compliance with current legislation requirements.
  • Negotiation and drafting of lease agreements and registration at the Revenue Agency.
  • Management of the on-time payment of all due utilities.
  • Making ISTAT (The Italian National Institute of Statistics) adjustments according to the average cost of living related to rental prices.
  • Drafting of an annual Real Estate Income Statement, required by Italian law.
  • Legal advice and representation before all competent authorities via a Power of Attorney.
  • Facilitation of maintenance and hospitality services for long-term tenants and short-term guests of the property including initial contacts, cleaning, check-in, emergency services, managing tenant problems or complaints, sending out reminder notices, and responding to online reviews; in cooperation with external suppliers.
  • Installation and maintenance of a security system.
  • Reporting service in English regarding the state of the property, accumulated income, and market trends, and translation of all required information.

Different kind of rentals in Italy

We specialize in virtual management of apartments and homes for temporary rentals for short and medium periods. Short-term rentals ranging from 1 to 29 days are the most requested by tourists or business travelers. Rentals from 30 nights to 18 months are generally sought after by workers or students who need housing for longer periods to attend school or work. Whatever the rental period or location of the property, we manage it perfectly and attentively with our state-of-the-art virtual property management tools which allow us to manage countless properties throughout the entire Italian territory. Our long-standing experience, Italy-based headquarters, and commitment to success enable us to proudly state that all owners who delegate rental agreements to us increase their profits and enjoy the freedom from bureaucratic issues and organizational tasks. Alternatively, owners have the option to manage their asset directly or via a selected representative. In this case, the owner handles the operational management, positions it on the portals, and deals with prospective guests until their actual arrival. Either way, the owner maintains possession and full availability of the apartment. Other advantages of having our specialists manage our short-term rental include:

  • Compared to a 4 x 4 rental contract, an owner can increase their annual income by 15-25%, with peaks up to 50%, before taxes and net of costs, with shorter lease terms.
  • The risk of arrears is practically nil.
  • Every time a tenant leaves, we take care of finding another by promoting the property.
  • We offer guarantees on the signing of the contract for average rents.
  • The optimal selling price is applied to the property.

Services are provided on a percentage basis, using one of the two following methods: 

  1. Assigning a mandate to the property management agency for taking care of the real estate unit in exchange of a percentage of the revenue.
  2. Signing a lease contract for the property between its owner and the agency – allowing for the agency to have comprehensive control on the property while the owner receives a fixed, predetermined rental price. 

Thus, each owner is free to decide whether he/she prefers to supervise the rental process and benefit from the realized profit, or, more simply, have a guaranteed monthly income and “no hassles.”

Our practiced, effective working methods, state-of-the-art IT tools, and continuous training in the latest industry regulations and trends enables us to handle each and every issue competently, solve problems easily, and attend to all duties professionally. Committed to our clients’ full satisfaction, we offer a customized approach providing each owner with consultancy and assistance tailored to their needs.

Our quality real estate management headquarters are in Firenze, but we have branches all around Tuscany and Italy. So that you can ask us for Garfagnana or Maremma real estate as well Pitigliano, Pietrasanta, Viareggio, Pienza, Manarola, Giglio and Montepulciano, just to name a few of the most discussed real estate markets.

IRECOM: the services provided

IRECOM is a GLOBAL SERVICE AGENCY offering a management service of tourist apartments for national and international investors who are interested in investing in real estate in Florence and Tuscany both for residential and investment purposes, through leases for tourist use. Since Florence is one of the most famous tourist destinations of Europe and attracts millions of tourists every year, IRECOM’s objective is to offer full assistance to owners and international investors in order for them to enter the vacation rentals market aimed at visitors and international students. Here you can find the property manager in Firenze you are looking for.

IRECOM has been running marketing and online marketing of hundreds of apartments, villas, castles in Florence and Tuscany through the promotion of the property a) in the portals of its network, and b) through the main domestic and international OTA.

IRECOM’s Staff consists of:

  • Lawyers
  • Accountants
  • Real Estate Agents
  • Italian mother-tongue Copywriters
  • English native speakers
  • Social media experts
  • Professional photographers and Videomakers
  • SEO (Search Engine Optimization) experts
  • Revenue manager
  • Graphic artists
  • Programmers.

Here’s our team structure in details:

 

Legal Department (D. L.)

The Legal Department of IRECOM consists of two lawyers who are fluent in English and experienced in real estate law and e-commerce. The D.L. is able to assist clients in every legal aspect of IRECOM: negotiation of the property price, tax advice, obtaining VISAs, contracts, and assistance in the signing of the purchase agreement are only some of the legal services that IRECOM is able to offer its clients through its legal department.

Commercial Department (D. C.)

The D.L. consists of two accountants who speak English fluently and are members of the Chamber of Accountants of Florence. Our assistance to owners or international investors includes free fiscal advice on the taxation on the tourist rental of properties as well as a constant update on the State and Local Legislation changing.

Real Estate Agency – Internal Network

IRECOM has an internal network of real estate agents through whose work they are able to look for the best house to buy and possibly produce the most income. The IRECOM experts are able to develop a BUSINESS PLAN to see how it can render an apartment in the early years of the tourist rental business through the use of KPI tables (KEY Performance INDICATORS).

Property Management Department

The Property Management Department has the task of promoting the apartment and of handling the customer’s name in order to advertise to tourists and international students. The Department is made up of real estate management, multi -lingual operators who have the task of promoting the apartments through our web portals.

Virtual Apartment Presentation Management

 1) Your property is showcased through presentation cards with multilingual texts created by native speakers expert in tourism, professional photos, emotional videos.

 2) Promotion through the main local and national portals: www.apartmentsinflorence.netwww.studentsville.it – www.booking.com – www.airbnb.com – www.wimdu.com – www.only-apartments.com. – italianrealestatecompany.com

 3) Bookings management.

 4) Feedbacks management and online reviews.

 5) Revenue management actions (evaluation of prices).

 6) Training courses on the topics of web marketing and revenue management.

Physical apartment Management

A team composed by 7 persons (5 staff members cleaning & check-in / check-out, one man jolly repairs and emergency interventions, 1 online receptionist) will take care of:

 1) Service Check-In / Check-Out

 2) Cleaning and Laundry

3) Maintain the property to the highest quality standards (furniture renovation, painting, lighting, etc.)

4) Emergency response management (boilers, Internet, plumbing failures, lift failures, etc.)

 

Building Department

IRECOM can also count on a construction department consists of a highly specialized professional team for precision, two architects, three and two Engineers Surveyors (all fluent in English) as well as a team of construction workers. In the event that a customer wants to utilize all the services of IRECOM (i.e. assistance in the search of the apartment and concession management of the same for location), IRECOM can offer discounts in selling property and in restructuring for income to be made.

The contents of this page should not be taken as an authoritative statement of Italian law and practice. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.

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