If you own a buy to let property, you’ll need to decide whether to arrange a private let or use the services of a property management company. As most landlords are keen to make as much money out of their rental properties as possible, many are tempted by private lets as they receive a higher percentage of the rental income. However, as a property management company can make the rental process faster, less stressful and more profitable, the benefits of a professional service can significantly outweigh the extra costs.
Advertising a property, showing it to prospective tenants, arranging a rental contract and setting up a new rental agreement is time consuming. This is on top of the hours landlords will need to put in arranging repairs, liaising with tenants and ensuring the rent is paid every month.
Using a rental agency will alleviate almost all of these time consuming tasks. A good agency will market and show the property for you, arrange all of the legal contracts, take care of background checks and ensure your rent is paid into your account on time and in full every month.
Another big benefit of using a property management company is the quality of tenant you can hope to attract. Thanks to their experience in the industry and the tools they have at their disposal, a property management company will be able to attract a higher quality of tenant and screen prospective renters to ensure you get the best people possible in your property.
Finding responsible, reliable and solvent tenants for your property will make your life a lot easier and ensure your investment is in as good a shape as possible at the end of the rental period.
Every month that your property is empty between tenants is money down the drain. A property management company will be able to carefully time your tenancies and market your property, ensuring your investment is vacant for the least time possible.
A property management company will work very hard to ensure your rent is paid every month. If there are issues with payment or any other legal problems during the tenancy, the property management company will be able to resolve them quickly and at minimal cost to you.
If you have an investment property to let out, you probably want the rental process to be as easy, as stress free and as profitable as possible. To find out more about how a property management company can make your life easier, visit our property management page or get in touch with a member of our team