From experienced landlords with multiple homes in their portfolio to new landlords and even those who have been thinking ‘should I let my property online’, the way you manage your rented accommodation can make a huge difference.
Here we go through some of the reasons why landlords should be considering full management for their rental properties.
Experience, Knowledge And Expertise
Even if you’ve been in the letting game for a long time, a professional management company will have years of experience in the local rental market, legal regulations, rental values and market trends to name just a few. Utilising the services of these experts can help to maximise your properties rental potential and ensure that everything is managed in the best way possible.
Finding Tenants
Sourcing and screening tenants is not easy and involves creating ads, taking photographs, conducting viewings, processing applications and vetting potential tenants. If you opt for full management, then your agent will take care of all this for you from sourcing and screening through to the agreement, ensuring that only the best, most reliable and trustworthy tenants are selected. This reduces the chances of problematic renters and saves you a lot of time and stress from having to handle it all yourself.
Maintenance And Repairs
These can be the bane of every landlord and is especially challenging and time consuming for those with more than one property to oversee. With full time management, your agent will handle all aspects of property maintenance from regular inspections through to repairs and often have a very reputable team on board who they use to provide the work. This helps to keep the property in excellent condition, the tenants happy and minimizes any potential issues that could harm your investment.
Legal Requirements
It can be a minefield for landlords trying to navigate the complex legal landscape of ever-changing laws, rules and regulations that they need to adhere to. With full time management you have seasoned professionals working to protect your interests and ensuring you are compliant, handling everything from disputes and evictions to safety certification and tenancy agreements.
Money
One of the most worrying things for a landlord is to end up with non-paying tenants or issues collecting their rental income. Your agent can do all of this on your behalf, chasing late payments, handling financial transactions and dealing with deposit disputes so that you don’t have to, helping to make sure that you receive your money consistently and in a way that is hassle free.
Cost Effective
Time is a valuable commodity and often something that people don’t consider when they are trying to save money. Managing rental properties can be extremely time consuming and whilst it might be in a landlord’s mind to keep costs low and handle everything themselves, this can be extremely inefficient.
Full management allows landlords to focus on their lives, whether that’s working, family, relaxing or all of the above, rather than having to run around finding an engineer to fix a boiler, chase late payments or getting phone calls from tenants whilst you’re on holiday.
Peace Of Mind
Being a landlord comes with a whole host of responsibilities and can be extremely daunting, stressful and overwhelming for many. Full management is a great way to give yourself complete peace of mind, knowing that your property and tenants are being taking care of and that everything is being done in a way that is correct, safe and compliant
