It is expected that next year approximately 100,000 people will become landlords, making the rental market even more competitive. This is good for renters, but bad for landlords. Why? With more properties to choose from renters have it good, but it means landlords may have to lower their expectations and standards of renters in order [...]
Pets – you either love them or loathe them. As a property manager you must keep an open mind about allowing pet owners renting from you.
Over half the renting population are pet owners, so don’t make a rash decision and deny pets from your property, as you could be reducing the number of potential renters [...]
To help you stay up to date with the latest news and regulations pertaining to property management consider some ongoing training to stay as informed about your industry as much as possible.
• The Letting Training Centre provides regular seminars on Residential letting, which they expand on to encompass advice on staff retention within your property office.
• The [...]
One of most proactive measures you can take to get your company presence out there is to create and maintain a website for your property services. Having a high web presence will increase your potential traffic to your site of both new clients with properties requiring management, and tenants wanting to lease out.
A website will [...]
Once a client is on board and you have their property registered, and then start the hard work of maintaining any works programmes on the property, managing any finances related to the site and dealing with the client and other customers effectively and efficiently.
To help manage all of this in a timely and correct fashion [...]
Property damage – it’s costly, and responsibility for it can be a grey area especially after the incident has occurred.
When drafting up your agreements with tenants, be aware to build in clauses that clarify whose responsibility it is to repair broken or damaged items – ranging from the smallest utensil to the roof on the [...]
With the recent economical cloud still hanging over Britain, there are fewer mortgages available for people considering a buy to let option. With banks being more critical with their criteria which has to be met the majority now ask for a very minimum deposit of 25% on the value of the property to be put [...]
An empty property is going to be costing you money, and getting tenants in to provide a regular rental income from is essential. But a word of warning – make sure you get the right tenant for your property or you could suffer financially further down the line.
Screening potential tenants should be carried out is [...]
One of the more hands on services offered by property management companies is the regular maintenance and up keep of buildings and / or land. Whether the properties are classed as residential or commercial, a management company must offer the full spectrum of services to cover for any eventualities that may arise.
Standard services include plumbing, [...]
When you’ve reached the point where you either have too many properties to manage yourself or should you have a property aboard that requires regular checks, then you are on the cusp of setting up an agreement with a property management company.
The most important part of the deal is to agree the service level offered [...]