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Benefits of using an expert property management company

Professional management can optimize property assets to ensure maximum efficiency and returns on investment.

If you’re thinking of making an investment in the property market, or you are the owner of a residential or commercial or portfolio of properties You may be thinking about whether it is better to hire an expert specialist property management firm or if you should take on the task of managing the assets on your own.

The amount of properties you own, as well as your time and commitments managing your own property can quickly become time and financial draining. If you choose a property management company with a wide range of skills and transparent and clear fees you can rest assured that it will get properly managed so that you will reap the rewards of its financial success.

We will give you an overview of a few of the time – and cost savings benefits that a full service professional property management company could provide.

Benefits of using an expert property management company

Keep up-to-date and in compliance with laws.
Rent collection
Management of lease renewals and rent reviews
Discover potential investment opportunities
Repairs and maintenance
Contact between landlords and tenants

Up-to-date with the latest laws

Renting properties are subject to a growing number of laws and as landlords, you are responsible to your tenants that are simply too important to neglect.

Along with the gas security checks, electric system inspections, fire safety regulations, Legionnaire’s Disease checks and laws maintenance and repairs your tenants’ deposit should also be kept in a regulated deposit scheme.

Inability to place your tenants’ deposit in a scheme that is approved by the government could cause you to lose certain legal rights if a tenant fails to paying their rent . This can cause hefty fines, or even jail.

Employing a reliable service provider means you can count on their ability to ensure that you are current and in compliance with the most recent legislation. They will also be able to schedule necessary checks to make sure that your tenants and properties are adequately covered.

Rent collection

In a perfect world, rent will be paid punctually and in full each month. However, tenants often encounter issues that result in delays or even partial payments. Along with taking your rent and depositing the rent into your account at the same date each monthly, the property management providers can resolve all rent-related disputes that might be arising and provide expert support and advice for tenants who is suddenly in a position of not being able to pay their rent, ensuring that you have a steady and predictable income that can cover your mortgage.

Management of lease renewals and rent reviews

Lease renewals and rent reviews require professional guidance and prompt guidance to ensure that disputes do not occur and that both the tenant and you are confident that you’re getting the best deal in these crucial moments of lease negotiations.

Working with a management team that has the knowledge and experience to provide these services on your own and not having to shell out for expert advice. Moreover, costly dilapidation claims could be avoided by making sure that all work completed in line to the lease’s terms before expiry or renewal dates.

Making the most out of your investment

A property management team with the resources to manage day-to-day facilities and requirements for rental income in addition to exploring ways to make the most of your investment the weight of gold.

If you have qualified valuers within the team can assess the property’s value to make sure you get the value of the rental in the current market. Additional services include the best way to advertise it, getting the most suitable tenants and a comprehensive plan for maintenance, it is worth choosing a company that has the full range of property management disciplines in-house to help you save time and money in the long term.

Repairing your property

Many landlords aren’t prepared to handle unexpected repairs, or even the regular maintenance of their property. A comprehensive property management company will employ internal Chartered Building surveyors that are capable of assessing the property on an ongoing basis and offer advice on repairs or maintenance problems that require to be addressed within the coming years.

This allows a scheduled maintenance plan to be set in an area that is sent to tenants ahead of time and allow for the budgets and service charges can be managed in a gradual manner to pay for coming work. This will prevent the expense of unexpected repairs for everyone affected.

The Chartered Surveyors can also provide construction Project Management and Contract Administration to ensure that any renovations or major repairs to a project are planned, controlled and checked efficiently to make sure that the final results are in line with strict regulations.

Naturally, any rental properties are susceptible to wear and tear, and unexpected maintenance emergencies can occur. If you are working with a property manager You can be confident that any boiler issue or leak in the bathroom will be dealt with quickly because they have direct access to trusted tradespeople with lower rates which means that unexpected issues are resolved quickly and cost-effective way.

The link between tenants and landlords

In the end, a professional property management company will ensure that all communication channels open open and the relationship between landlords and tenant professional, and in accordance with all laws in all times.

Alongside the other points mentioned above they’ll be able to assist with:

Marketing your property to prospective tenants
Finding suitable tenants
Monitoring of repair, renovation, and maintenance
The collection of insurance premiums
Properly timed property disposals and leases to ensure that the property isn’t empty
Conducting references and credit checks on prospective tenants
The tenancy agreement should be prepared.
Placing the deposit into an approved scheme
We recommend suitable insurance
Advice about your legal responsibilities
Writing or recording an listing of your home
Inviting the tenant to look and accept the inventory
Examining vacant properties for maintenance and repairs
The property is inspected at the intervals you agree with and the tenants
Giving tenants notice at the termination of their tenure
In dealing with harassment, evictions legal aspects of tenant and the property, or issues with the squatters

A property is an investment with a lot of potential if properly managed. Selecting the best management company will ease the stress of owning a property while giving you full transparency of the performance of your portfolio, as well as advice to increase the profitability of your investment, and ensure that you are current in the field with less information about the day-to-day performance of your investment as you would like to be aware of.