Landlords and investors can sometimes find that there’s more to looking after an investment property than they expected.
From dealing with tenants to the upkeep of the property, our property management experts tell you about the benefits of using a professional property management company in London to look after your London property for you.
Why would I use a property management company?
While you could look after your rental property yourself, there is a lot more involved nowadays in renting out a property than you might think.
Dealing with tenants’ queries, regulatory requirements and maintenance issues on a regular basis can all become too much very quickly.
If you live a long distance from your property or do not wish to deal directly with tenants yourself, a property management company can be that local point of contact that has the experience to look after everything to do with your property.
They can manage all aspects relating to your property on your behalf to take the hassle out of owning an investment property. Some offer different levels of services from letting-only to full management that you can choose from, so you can decide the level of management you require.
What are the advantages of using a professional company to manage your property?
A property management company brings knowledge, experience and resources to looking after your property and can help ensure you get both value and peace of mind in managing your investment.
Some benefits that a property management company offer:
- Professional rent advice – get advice on what rent you can achieve for your property.
- Expertise in marketing – your property is advertised on portals and other channels in a way that can achieve higher rental yields.
- Access to quality tenants – access to databases of tenants looking to rent can mean shorter vacancies.
- Selection of quality tenants – their experience in screening can help find tenants that suit your property, meaning fewer turnovers.
- Available 24/7/365 so you don’t have to be – issues or queries from tenants or neighbours are dealt with on your behalf.
- Handles legalities – tenancy agreements and legal requirements are handled for you, and as regulations or laws change the legalities are managed by knowledgeable professionals.
- Rent Collection – they collect deposits and rent on your behalf and chase late payments.
- Certifications – gas & electrical certification and EPCs are arranged for your property.
- Handles change in tenants – you have no headaches with tenants leaving and getting new tenants in, as all cleaning, refurbishment, deposit reconciliation, inventory checks and new tenant installation can be handled for you.
- Cleaning, repairs & refurbishment – your property is cleaned between tenancies, problems get fixed and refreshes are carried out by competent tradespeople.
- Lower maintenance costs – their experience in dealing with tradespeople that they use regularly means they have access to trustworthy people at competitive rates.
Not sure what a property management company does?
See our previous article:
What is a property management company and can anyone use one?
So how do I get started with a property management company?
We here at Henry Wiltshire London understand that keeping a rental property can become overwhelming even for the most experienced of landlords.
Let us take the hassle out of dealing with tenants, neighbours, regulators and tradespeople while you enjoy the benefit of your investment.
We will assess your investment property and advise on the services we can offer that best suit your property. We provide a full suite of property management services for investors in the London property market and offer a range of services to suit the level of management that suits you.