Why do you need property management?
A professional property management company has the potential to add significant value to your property.
If you own property for any period of time, you are well aware that managing the rental/selling of property can be financially rewarded. At the same time managing property involves significant time and effort.
While it may make sense to do it yourself, if you live close to your property and don’t mind devoting several hours per month whereas in many cases this is just not the case, especially if you own another business and you have limited time with this in mind, here are some tasks a property manager can help you with.
- Marketing and advertising your property:
A good property management company knows where and how to market your property, and how to make advertising materials when it comes to filling your property quickly and avoiding long vacancies.
- Setting the right pricing:
A good property management company will conduct a market survey in order to set a price for your property, ensuring that you achieve the maximum monthly income.
- Better screening of tenants/buyers:
Even believable-looking people can prove to be difficult tenants, this is why property management companies always take screening of tenants very seriously after all a tenant who pays their rent on time and takes care of the property is not only good for you but is also a lot less hassle for a property management company.
- Better maintenance of your property:
This could be difficult finding the right person to deal with the problem, if you are on holiday or if you are working. A property management company will have a network of fully qualified tradesmen they can get in touch with to fix the problem. They will also carry out periodic inspections to check that the general standard of your property is being maintained throughout the length of the tenancy.
- Providing a robust tenancy agreement:
A tenancy agreement protects your property, sets out your obligations and that of your tenants, and prevents potential disputes from happening in the future. A property management company can help you draw up a tenancy agreement for your property. It will contain standard items like the start date of the tenancy, when the rent is due, and the notice period.