Property Management

Nica Projects is a real estate development and property management company focused on the Nicaraguan residential investment home market. We have been operating in Nicaragua since 2007, and know the customs and country very well.

Playa Tesoro is a real estate project located on an island between the Tamarindo River and the Pacific Ocean, near Leon, Nicaragua. It is over 30 acres in size and has a significant amount of quality ocean beachfront. Nica Projects is preparing and servicing the land and subdivided it into beach and riverfront lots. Later phases will deliver more products.

Advertising includes Internet, newspapers, networking and word of mouth. We show the property and screen potential tenants. Tenant screening is the MOST critical point in property management. We always do our best to eliminate questionable applicants. Screening includes credit and public records, previous rental history, personal references and our personal impressions of prospective tenants. Our services include:

• Entering into a lease with the tenant.
• Collection of rents from the tenant and forward proceeds to the owner.
• If needed; we send late and eviction notices. We will initiate legal action against tenants on behalf of the homeowner.
• Coordination of repairs or forward maintenance requests to the homeowner. We have a number if independent contractors who offer preferential pricing and excellent quality services to Playa Tesoro property owners.
• Provision of year-end statements to property owners for each property.

To protect the owner’s investment, Playa Tesoro Management arranges inspections of the property before and after the tenant moves in. In addition, inspections are made during the tenancy as needed. Photos and a written report are arranged, plus each tenant completes a move-in report to insure a proper record of the property’s condition.

To keep owner maintenance costs to a minimum, tenants are directed in the lease to pay for minor repairs. Also, Playa Tesoro management provides insured handymen at reduced rates. In addition, licensed contractors are called to make repairs on major air conditioning, heating, electrical, and plumbing repairs.

Our fees for full-service property management are economical and transparent.

• We retain 25% of rents received as a commission.
• In addition to the commission, a monthly Property Management Fee applies. This fee covers ongoing operational oversight, coordination, and administrative services and is charged regardless of occupancy.
• If the unit is vacant or rents are not received, we do not earn a commission, though the monthly Property Management Fee still applies.
• There are no additional advertising or releasing fees.
• There is a one-time $100 set-up fee that may be paid from the first month’s rent when received.
• There is an annual $50 account maintenance fee. This fee covers our bookkeeping costs for year-end statements and for tax statements.
• Fees may be negotiable for property owners with multiple properties or in exceptional cases.