The Benefits of Using a Property Management Company

Are you considering investing in property, or do you already let out a residential property? You may benefit from hiring a professional property management company instead of managing all of your investments yourself.

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 you trust, 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.

Now more than ever, with the Renters' Rights Act underway, landlords must accept their obligations to tenants and ensure they meet over 160 pieces of landlord legislation 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.

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.

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.

At the juncture of rent reviews, you need competent guidance to ensure a smooth negotiation and sound advice can avert potential disputes between both you and your tenants.

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.

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 company 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 is to be expected, but with a professional property management team by 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.

Ultimately, a reliable property management service will always ensure that the relationship between landlord and tenant remains professional while adhering to all legal standards.

Not only can we provide all of the above, but 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 us.

Initial marketing on all major property portals 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

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

Registration of deposit

Utility company notifications

Updating landlords on the latest legislation changes to ensure the rental property is constantly compliant

Liaising with Landlords to resolve any issues raised by the tenant

Instructing contractors and monitoring maintenance issues

Payment of contractors' invoices

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

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.