How to Manage Overseas Properties

• What you need to know about managing your own property
• What you need to know about property management agencies
• How OuiTrust will empower property managers

Things to keep in mind when managing your own property

• Although the house is unoccupied during the vacant period, there will still be basic utility bills. The homeowner is required to pay the monthly water and electricity bills in a timely manner.

• Dealing with various maintenance issues encountered with the house and paying maintenance costs.
  
  
• Taxes arising from the rental income of the house need to be paid promptly.
  
  
• As a homeowner with multiple properties overseas, when you receive rent from different countries, you will have different currencies in your account. At this point, a collection account with multi-currency management capabilities will make management easier for homeowners.
  

Things to keep in mind when managing by the agency

• Regular collection of the management fee from the homeowner.
  
  

• Remember to check the bills for all the expenses incurred on the house. Recover from the agent any costs that have been advanced (water, electricity, taxes, maintenance, cleaning, etc.).

• If the property is rented, the property management agency will also need to help you collect the rent, and may encounter different currencies in different areas to account for the rent, which will then be exchanged and transferred to the landlord in one place.

So whether you manage it yourself or delegate it, homeowners and property management agencies will need to have an overseas account that can efficiently handle receipts and remittances, as well as manage multiple currencies. However, as it is currently relatively difficult for individuals to open an account overseas, most homeowners choose to entrust an overseas property management agency to manage the account for them, saving them the hassle and effort.

Property management agencies have to handle the property management of several owners at the same time. In addition to the escrow work of renting and maintaining the property, the management of the monthly accounts for miscellaneous expenses is also a major concern. As the landlord is not in the area, there is a need for international transfers to be made in a timely manner and to minimise losses due to exchange rate fluctuations.

With an OuiTrust account, these problems can be solved.

OuiTrust is a licensed financial institutions in Europe focused on serving Chinese businesses. Electronic bank account management, remittance transfer, exchange and multi-currency account management are our core functions. We can also help property management agency to handle the international transfer more efficiently.

1. Apply for a bank account easily online
   

    

   Property managers can apply for an account on OuiTrust's website or app simply, and once approved, they can have a local European multi-currency e-banking account. 

2. Local Clearing Networks

   OuiTrust currently supports local networks such as SEPA/FPS\ACH, so you can choose to use the appropriate local network as long as the recipient is located in the EU, UK or US.

3. Multi-currency account
   
   

   For properties rented out overseas, there may be different currencies paid by tenants in different regions, how can you manage your rent in different currencies? Don't worry, OuiTrust multi-currency accounts are here to help you!

   We support up to 30+ currencies, with a minimum of 3 accounts in GBP, EUR and USD. If you want to have more currencies, such as RMB, just create an application in the backend of the app.