Renting a property can require a lot of work and a high level of commitment, which many property owners don’t have the time or the inclination to put in. A good rental management service will handle all the headaches and downsides of rental management for you, making life potentially much easier.
While it may make sense to take the do-it-yourself approach if you’re a handy person or you don’t mind devoting several hours per month to the task, in many cases this just isn’t practical- especially if you hope to expand your portfolio. With this in mind, here are some critical tasks a property manager can help you with:
The benefits of a property management service
Higher quality tenants
A quality property management service will be able to vet out the tenants you’re looking for through a reliable screening process and pick up on the warning signs on tenant applications.
The experiences of a property management service can prove to be invaluable as you improve your prospects of achieving quality tenants that pay on time, maintain excellent care of the property and become longstanding occupants.
Managing paperwork and responsibility
One of the best aspects of using rental management services is that they will handle a good deal of the necessary paperwork. A firm can relieve you of finding and screening tenants, checking credit reports, conducting background checks, drawing up rental agreements, as well as billing and accounting for monthly rent.
Shorter vacancy time
In the event of tenants vacating your property, you can expect the void to be filled pretty quickly with expert advice on hand. Rental management services will normally take on the role on advising on necessary cosmetics as well as how to achieve the optimum price when it comes to rental rates.
You can also be advised on effective marketing strategies to employ – allowing your property to catch the eye of prospective tenants faster.
Repairs and Maintenance
You can expect organisations offering rental management services to come with their own maintenance team. For a landlord, this offers no shortage of benefits as you will generally find lower costs for maintenance and minor repair work.
With maintenance staff close by, you can find an efficient response to your woes over repair work, in some cases this can be vital so knowing help is not far away, can prevent a lot of grey hairs for you and your tenant.
With their contacts in the maintenance world, you can be sure any job they cannot do themselves, they will have the know-how to find quality tradesmen at sustainable prices.
For knowing how to do basic repairs and maintenance within the home, check out our blog post:
7 essential DIY tips and tricks every homeowner should know.
Avoidance of tenancy issues
Passing over the responsibility over to a rental management service can provide a range of benefits to owners.
Firstly, you can rest assured there will be no middle of the night emergencies to attend to nor tenant demands to meet at unsociable hours.
Chasing down rent or dealing with late payments can be removed from your schedule also – helping to alleviate that landlord stress.
Freeing up your schedule can mean you can spend your more time doing the things you love, whether it’s reading the latest Harry Potter thriller or taking a stroll along the stunning coloured beach in Fraser Island, Australia.
Assistance with legal matters
A well informed lettings agency will be completely savvy when it comes to keeping the property safe and secure, and conforming to regulations. As Landlords solely managing properties, there can be a lot of to consider from Fire Safety Regulations to Electrical compliances.
A property management service can lend a helping hand to help you understand and ensure you fully comply to legislation – removing any nasty surprises with the law.
Let Pearson Ferrier take care of it
Pearson Ferrier is a leading domestic and commercial property lettings and estate agency operating multiple branches in the North of the UK.
With our rental management service, we ensure in the case of any maintenance issues arising, our approved team of contractors are there immediately to tackle any problems.
As part of our service, our helpful team will inspect the property and ensure the property is well maintained as well as provide tips to keep the property running in a good working order.
For more information on our property management service, give us a call on 0161 764 4440.
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