According to the reports of different studies, one in five landlords says that letting agents is more stressful than they ever could have imagined, with three-fourth of landlords admitting they are more stressed.
A survey was conducted for the UK Landlord tax. The biggest issues to landlord worries were late rent payments and others issues were for funding property maintenance and repairs and some were tax worries.
Struggling to make money
Whilst some of the landlords surveyed said that real estate owners still continuing to let out property. Just over half of them said they did not expect to make any money from it. Landlords eliminate their stresses by hiring a property management company in London. Now the question arises, how do property management companies help to eliminate their landlord’s stress?
A property management company with their letting services and guaranteed rent schemes helps earn a better income from the rental properties. Well for a guaranteed rent scheme and for a good return on investment you can get in touch with the team of HouseManage! They provide a full property management service in London, Nottingham, etc. with a guaranteed rent scheme.
Outsourcing property management and guaranteeing rent
As a Landlord, it is up to you, how you utilize the property management service for your property. With their services, you will no longer have to endure the stresses of letting out your property, collecting rent, resolving legal issues, etc. Property management companies take care of almost everything related to the property from maintenance and repairing, advertising, hiring tenants, and much more.
Property management company also offers a beneficial guaranteed rent scheme, which means that landlords will surely get monthly payments, whether their property is vacant or their tenants pay their rent or not. In this scheme, management companies ensure that they make a significant amount of money from their let-only service.
They are available 24/7 to support both you as well as your tenants during the contract as well as throughout the tenancy. They provide all the contracting documents including the yearly assured tenancy agreement and you can live hassle-free because they will act as witnesses for both you, and your tenant.
Tenants need to attend a sign-up meeting and they will provide them with all the information on how they should effectively manage their tenancy.
If they think they are suitable for our requirements and will benefit from additional support, they will refer them for tenancy training.
With property management companies, you will also get help from an account manager support too throughout the tenancy. Your property manager will make regular visits to your property throughout the tenancy (months 1, 6, and 12) to check and resolve the issues as well as requirements with your tenant and prepare reports on ongoing property conditions.
Your tenant will be allocated a tenancy support call through which they can contact the property manager anytime for the appropriate support services.
You need to choose the best property management company whom you can rely on for your property. Also, it is a must to have a valid argument. A property management company can indeed additional cost of hiring. You should think about hiring a property management company to rent my house serves as an investment. Not only this, a good property manager usually focuses on quick returns more than their own initial cost. He/she will also do the following:-
- The letting agent will listen to maintenance requests and resolve the tenant’s problem related to the property.
- He/she can deal with defaulting tenants that are months behind in rent.
- He/she will market a subject property to limit vacancies
- He/she will keep detailed records of everything happening at the property
Property management companies can simply be helpful for a real estate owner or landlord as a helping hand or right hand by handling all the duties and responsibilities related to the rental property on behalf of the landlord.