Realistically, you can’t do it all – and managing your own property can create unnecessary hassle and stress that you could really do without. Without the knowledge, skills, and experience, you can end up in a minefield, and it can be difficult to keep on top of everything. By handing over your property to a company that specialises in property management, you can make your life easier. In this guide, we will look at how a property management company can help you, and what you need to look for before choosing who you want to work with.
What is a property management company?
Property management companies help to support resident landlords with their properties. The exact responsibilities of the company will vary based on the service package offered, the price, and the type of property being managed. Typically, your property management company will cover the marketing of the property, finding suitable tenants, and any administration regarding the tenancy, rent collection and legal compliance. They will handle the day-to-day operations of the property, so you don’t have to worry about a thing. Other additional services might include conducting viewings, legal certificates and property inspections, rent protection and insurance, eviction support, property maintenance, and home emergency cover. It is important to look around and find somewhere that will help cover everything that you need.
The property management company will become the first port of contact for both parties, and it will become your one-stop shop for everything property-related.
What are the benefits of using a property management company?
Aside from the most obvious reason, saving time and money, there are many benefits that come with choosing a property management company in Croydon. Some of these benefits and advantages include:
Keeping your property up to scratch
Maintenance is the bane of most landlord’s lives – simple and quick jobs have to be fitted around your daily routine, and larger or emergency jobs can take over rapidly. It is important that you keep up to date with your maintenance in order to comply with regulations, and keep your tenants happy! Small issues can become big problems in no time at all.
Property management companies can help by scheduling regular property inspections and being able to fix anything before it turns into something huge. Often, they will have contractors on standby in order to fix anything that is required, and this means that both you and your tenant will be happy
Find tenants faster:
Property management companies are experts in marketing and networking, and their aim is to find tenants quicker than you would be able to on your own. In addition to this, there is also a thorough screening process that is followed to ensure that your new potential tenant will be suitable. This process will include credit checks, employment and income checks, landlord references, eviction history and criminal convictions. Doing this yourself would be time-consuming, stressful, and incredibly tedious.
Stay competitive:
When you rent a property, choosing what rent to advertise at is a fine balancing act. You want to make a profit but also have a rent appealing enough to attract new tenants. By working with a property management company, you won’t have to worry about trial and error. Property management companies know how to set a competitive rent price, and you will have an accurate appraisal of your property.
Stay compliant:
Building safety regulations in the UK can be hard to keep on top of, but property managers deal with this all day, every day. They will know when changes have been put in place, and you won’t run the risk of becoming non-compliant. Gas and electric regulations can be mind-boggling, but we are trained and experienced in all safety matters, so you don’t have to worry at all.
Better communication:
There are many things on your list of responsibilities when you are a landlord, and it is not uncommon to experience a late-night phone call with a problem from your tenant! When you hire a property management company, you get a point of contact for your tenants. Some companies even offer 24/7 emergency lines so you don’t have to deal with middle-of-the-night phone calls! With a property management company, you and your tenant are in safe hands. Whether it is a leak or a repair that needs sorting, late rent, damage caused to your property, or general complaints, we are here to be the middleman for everything. You won’t have to deal with any uncomfortable conversations, and we can help get any situation resolved quickly.
Tips and tricks to help you choose the right property management company:
Looking for property management companies in Lambeth may seem like a good idea after reading this blog, but it will also help if you know what you need to be looking for. Our tips and tricks will help you to find the perfect property management company.
Do your research?
Searching online can give you a list of local property management services. Be sure to compare their services and check out their reviews from both tenants and landlords. It’s important that you don’t just go for the first company you see – you need to thoroughly research and explore all of your options. Ask recommendations from estate agents, and speak to as many people as possible before making your decision.
Go local
When selecting a company to care for your property, you need to choose somewhere that has a deep knowledge of the local area and market. You will also want a company who has good links and connections with local tradesmen and handymen as this means you will be able to get the best deals for property maintenance.
Look at the range of services available
If you are hiring a property management company to make your life easier, then it is important they offer the full range of services that you are looking for. There is no point in signing up somewhere and then finding out that you have to find the tenants, or you have to do the regular property inspections. A property management company is there to take away unwanted stress and hassle, so make sure that you find one that can offer you the most for your money.
Listen to your instincts
Like so many things in life, you should trust your gut before signing up. Take a look at how the company presents itself offline and online. If they cannot market themselves well, how will they manage to market your home and find the right kind of tenants? If something feels off, then don’t sign up with them.
Here at Denhan, we have over 20 years of experience in letting and property management. Our aim is to eliminate all of the risk from letting your property, and allow you to enjoy the perks of being a landlord without all of the hassle and stress. Our team has an in-depth knowledge in property management, and our range of services are suitable for everyone whether you are a first-time landlord or a portfolio landlord. If you are interested in working with us, then get in touch with our friendly team today for more information..