Whilst being a Landlord is a lucrative business, it can also be an extremely stressful source of income. By working alongside a Property Management company, it will not only reduce your stress, but save your time and money as well. Property managers have a significant network & knowledge of the industry meaning you only have to deal with one company, rather than several. So, what are the main benefits of using a property management company?
Regular inspections & Around the Clock Maintenance
Maintenance is arguably one of the biggest trouble spots for a lot of landlords - it’s time consuming and expensive. If you don’t stay up to date, what was once a minor issue could quickly become an expensive problem. Often, property management companies will have dedicated property inspectors that will visit your property at regular intervals, around every 8-12 weeks, to ensure the tenant is maintaining the property as they should. They will also provide information about any repairs that are needed that the tenant may have missed.
Property management companies will handle all aspects of property maintenance on behalf of you, including emergency repairs. They usually have a network of contractors, who are qualified and trustworthy, meaning repairs and maintenance can be scheduled in a timely manner.
Help with Legal Compliance
With laws & legislation constantly changing, it is important to keep well informed in order to properly understand your responsibilities as a Landlord & avoid legal trouble. Not only are landlords expected to be up to date with gas, electrical and fire safety legislations, you also have to deal with licensing, tenancy agreements, deposit protection schemes and notice periods.
Property managers ensure compliance with local and national housing laws and regulations, and can update you on any changes that you need to know about as they are experts in the specifics of compliance.
Save time with a property management company
We understand that, whether you are a first time landlord or own a portfolio of properties, you can save significant time by hiring a property management company to look after your property. This means that you can maximise the time and effort put into future projects and investments, allowing you to grow your property portfolio successfully.
A property inspector will carry out inspection on behalf of you, which can be really beneficial if you are not located near your properties. Your property manager will also contact contractors and schedule any repairs on behalf of you, with your permission to do so, of course. If you need updates about any of your rentals, your property manager will be on hand to help you.
Your property manager will also ensure that you are receiving your rent payments on time, and will have the knowledge of the steps to take if legal action is required. However, looking for a company that offers a Guaranteed Rent Scheme could be a stress-saving hack. As the name suggests, these schemes allow you to rest assured that you will receive your rent payments regardless of the tenant paying on time.
A Hassle-Free Landlord Experience at Elliot Leigh Guaranteed Rent
Our Guaranteed Rent scheme offers landlords a hassle-free service that maximises your investment and minimises the day-to-day problems with managing properties and tenants. Our property management team will take on all aspects of your property, whether that is maintenance, liaising with tenants or giving you compliance advice. Plus, we promise to pay your rent on the same day of each month, whether the tenant pays or not. To find out more, visit us at Elliot Leigh Guaranteed Rent or get in touch to speak to our dedicated team.
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