Many landlords overlook the importance of using a good property management company. Rental management companies can save landlords a lot of time (and even money!) during the rental process. If you’re a new landlord who needs some guidance, or a seasoned landlord who would like some time back, choosing a property management company to help you will be greatly beneficial.
What is a property management company?
Maintaining a property can be seriously hard work. Property management services exist to make sure that you’re not at a disadvantage if you lack staff or skills, and ensure that you don’t have to take on all the jobs alone. Essentially, they oversee day-to-day repairs and ongoing maintenance along with ensuring the security of properties. They manage tasks delegated by property owners, and work to simultaneously improve the income prospects of the property while preserving the current value of the property.
What does a property management company do?
A property management company is responsible for a range of property repairs and improvements, helping to manage properties efficiently and take stress away from landlords’ shoulders. Management companies will cover everything from maintaining structures and walls, cleaning and car parking organisation, to on-site facilities and health and safety assessments – all depending on your specific needs.
Why should I use a property management company?
So, you think property management might be up your street? Here are the top five reasons why you should use a property management company:
1. Less maintenance costs
The in-house maintenance team of a property management company will ensure the property is properly maintained in a professional manner, and will be a much cheaper option than using an external maintenance company directly.
2. Legal compliance
A property management company will ensure that the necessary safety regulations are met before the property can be legally let, such as gas & electrical safety inspections, fire inspections, alarm servicing, and other risk assessments including planned maintenance. Your property management company should be up to date on all current regulations, and will ensure your property is fully compliant without you having to worry.
3. Access to a network of staff and contractors
With a dedicated property manager for your rental property, you won’t have to worry about finding a fair quote or ensuring the availability of a maintenance contractor. Property management companies will have a list of trusted contacts and check over their work once it is completed.
4. Gain back more time
Hiring a property management company WILL save you time! Rental properties require both time and effort to manage effectively, and having a management company can help you avoid time-consuming and otherwise difficult tasks.
5. Quicker and better property maintenance
A property management company can ensure quick-action response in the face of a problem. If something in your property breaks down, it can be difficult to find time to fix it along with the task of finding the right person to help, but a property manager will coordinate all the problem solving and fixing for you. They will also carry out regular inspections to ensure that your property is maintained throughout tenancies.
Choosing a property management company is an important decision, and may not be right for everyone. But if you decide it’s the route that is right for you, you may wonder why you ever thought of managing your property yourself in the first place!
Our property management service supports the full maintenance of your property – from carrying out repairs through to safety and compliance checks, all tailored to your needs. Get in touch and let’s see what we can help you with!