Despite the popular perception, being a landlord is a tough job, it’s not simply a matter of owning a property and waiting for the rent to enter your bank account.
There are tenants to find, safety certificates to sort, maintenance to take care of – the list is endless.
However, help is at hand in the form of property management services, which can take the stress away of being a landlord.
Here are three ways to benefit from investing in property management services.
Finding – and keeping - tenants
While the rental market may be booming, finding a suitable tenant is not as simple or straightforward as you may think.
First of all, you’ll need to market the property and nowadays that’s a bigger job than taking out a small ad in the local paper.
A property marketing service can take of that, using professional photography and video walk-throughs to show your property in the best light and advertising it on all the major portals.
They will also have access to a database of thousands of tenants, giving them a head start when it comes to finding the ideal one.
Covering all bases
Once the applications start to come in, an experienced property manager will be able to sort the wheat from the chaff and spot any potential red flags when reviewing tenants’ paperwork. This will reduce the likelihood of any issues further down the line.
They can also help to draw up a watertight tenancy agreement: the legally-binding contract between a landlord and their tenant that is required by law.
The agreement aims to protect all parties, stipulating, among other elements, when rent is due, the notice period and the landlord’s responsibilities in case of any issues with the property itself.
Keeping on top of maintenance
A property doesn’t look after itself, and will need regular upkeep to keep it in as good a condition as possible.
A property management team can inspect your property both before, during and after a tenancy, dealing with any issues that arise and making sure it is in good order.
They can also be your tenant’s point of contact for scheduled maintenance matters, or even should unforeseen problems arise.
Furthermore, there are a number of safety regulations that need to be met before a property can be safely let, such as electrical and gas safety inspections. A property management company will be able to advise on all current safety regulations and arrange the necessary checks to ensure that your property is fully compliant.
At Clarke Munro, we work with our specially selected team of preferred, registered contractors to ensure both scheduled and unexpected maintenance issues are dealt with on your behalf.
We can also take full charge of any payments required, meaning landlords won’t face any unexpected bills.
If you have a property you’re looking to let, or you’d like to hand over the reins over an existing rental, get in touch with the experienced Clarke Munro team on 01642 245796 or 01642 361111.