Are you considering investing in property or already the landlord of residential premises? You may be trying to decide whether to hire a professional property management company or manage the assets on your own.
Owning multiple properties can be a tedious, costly task if you don't have adequate time or resources to manage them.
When selecting a property management company, such as The Property Centre with its wide-ranging expertise and transparent fees, you can be certain that your investment will be professionally managed so you can reap the rewards of its success.
Here we give an overview of just some of the time and cost-saving benefits a good property management company will offer.
Benefits of employing a property management service
- Stay up to date and compliant with legislation
- Rent collection
- Managing rent reviews and lease renewals
- Explore new investment opportunities
- Maintenance and repair
- Communicate between landlords and tenants
"Always a professional and personal approach to all things rental. All staff are always very helpful. As a landlord I have been with The Property Centre for approximately 6 years and would not use any other letting agent."
K. Jones, Google
Stay up-to-date with legislation
As the legal demands for rental properties become increasingly more stringent, landlords must accept their obligations to tenants and ensure they are met without fail. Failure to do so may result in serious ramifications.
In addition to gas and electricity safety inspections, fire safety protocols, regulations regarding Legionnaire's Disease, maintenance services and repairs, landlords are also required to store their tenants' deposits in an approved deposit scheme.
If you do not place your tenants' deposits in an accepted scheme, it can drastically limit your legal rights if a tenant fails to pay their rent. This could lead to steep fines or even imprisonment.
Partnering with a reliable service provider means you can depend on them to remain current and compliant with the most recent regulations, scheduling essential checks to guarantee your properties and tenants are appropriately safeguarded.
Rent collection
In an ideal world, rent would come in on time and in full every month but inevitably tenants occasionally hit problems that result in delayed or partial payment.
Not only does a property management service provider collect and pay your rent on time every month, but they also can deal with any rental disputes that may arise. In addition, if the tenant is unable to make payments suddenly, these providers will provide much-needed support and advice so you have a steady income to cover your mortgage.
Managing rent reviews and lease renewals
At the juncture of rent reviews and lease renewals, you need competent guidance to ensure a smooth negotiation and sound advice can avert potential disputes between both you and your tenants.
Enhancing your business by partnering with a skilled management team can save you from unnecessary expenses and dilapidation claims. With their help, any work necessary to meet lease terms will be completed in time for renewal or review deadlines, providing peace of mind that costly surprises won't arise down the track.
Helping you make the most of your investment
A property management team that has resources to manage the day-to-day facilities and rental income requirements, as well as explore ways of making the most from your investment, is worth its weight in gold.
Those with qualified valuers in the team will be able to value the premises to ensure you achieve the rent it is worth in the current marketplace.
With additional services including how and where to market it, attracting the right tenants and a comprehensively planned maintenance schedule, it really is worth your time to source a provider with a breadth of professional property disciplines covered in-house to save time and costs in the long run.
"The Property Centre has been managing my rental property for 5 years. They have been doing a very good job."
K. Ranganath, Google
Repairing your property
Countless landlords are unprepared to handle potential repairs and ongoing maintenance of their properties, leaving them struggling in the event of unexpected issues.
Working with a reputable property management service provider ensures that your properties will be regularly assessed to identify any potential repair and maintenance needs for the next few years, so you can plan and stay one step ahead.
When it comes to rental property, wear and tear can be expected. But with a professional property management team at your side, you have peace of mind knowing that any unexpected maintenance issues will be taken care of in an efficient manner by trusted tradespeople. Any boiler breakdowns or bathroom leaks will be tackled much more quickly and cost-effectively.
The bridge between landlords and tenants
Ultimately, a reliable property management service will always ensure that the relationship between landlord and tenant remains professional while adhering to all legal standards.
"I can't express enough how satisfied i am with the lettings team for all of their hard work over the last few years with management of my property. They have been very helpful with all issues, big and small, over the years."
G. Wilkinson, Google
Property management with The Property Centre
Our comprehensive management service can be tailor-made to your specific requirements and covers every aspect of a residential letting from the moment you decide to market your property with The Property Centre.
Marketing
- Initial marketing on all major property websites including Rightmove, Zoopla and Primelocation
- Property details circulated to all potential tenants registered on our database
- Full-colour property details
- Qualification of viewers prior to arranging viewings to ensure they meet your criteria, e.g. non-smokers
- Accompanied viewings
- Negotiations
Tenant Vetting
- Obtaining proof of ID
- Credit check
- Employment and existing or previous Landlord references
- Right to Rent checks to comply with the Immigration Act
- Arranging gas and electrical certificates in preparation for the start of the tenancy
- Tenancy Agreement and associated document preparation
- Inventory and schedule of condition to include colour photographs
- Smoke alarm testing on the day the tenant moves in
- Registration of deposit
- Utility company notifications
Property Management
- Liaising with Landlords to resolve any issues raised by the tenant
- Instructing contractors and monitoring maintenance issues
- Payment of contractors' invoices
- Updating Landlords about any changes in legislation
- Manage any third-party queries e.g. from utility providers
- An agreed number of property visits per year with a written report
- Rent collection and monitoring - should the tenant miss a payment we will contact them to identify any problems
- Tenancy renewal negotiations
- Rent reviews
- Rent and legal protection - optional
- End of tenancy check out
- Dispute negotiations and arranging works to prepare the property for the next tenancy
Owning property can be a rewarding financial investment when managed correctly. Our comprehensive management service can be tailor-made to your specific requirements and covers every aspect of a residential letting from the moment you decide to market your property with The Property Centre.
Register as a landlord with us today, book a rental valuation or call 01452 888060 to discuss your requirements.
The Property Centre is offering a free set-up fee for new landlords, saving up to £478* find out more here.
