Whether you have one property or eight, knowing the real value of property management is essential to help you be effective, organised, and profitable.
Here we outline the real value of property management.
What is Property Management?
Property management is the operation, control, and maintenance of investment properties.
In other words, it’s about taking care of your property, so you maximise your rental return and profit.
Property management includes the following activities:
- Ensuring the rent is at market price
- Screening tenants to ensure they’re suitable and can legally rent in the UK
- Collecting rent from tenants
- Keeping tenant vacancy rates low
- Consistent communication with tenants
- Providing maintenance and repairs in a reasonable time and with minimal disruption to your tenants
- Managing the budget
- Preparing the Tenancy Agreement and lodging the deposit in a government-approved deposit protection scheme
- Ensuring your property is safe
- Ensuring the property is not overcrowded
- Ensuring you have a current HMO licence from the council (if your property is an HMO).
The Real Value of Property Management
If you are considering whether to continue managing your property portfolio or hiring a property manager, you will need to weigh up the value of having a property manager.
You also need to check if the service they provide is a full property management service, or simply a tenant find and rent collection service.
Essentially, a property manager’s goal is to get you the best return on your investment.
The good property manager will deliver great outcomes for their clients every day while focusing on maintenance to extend the property’s life and ensure it is safe and sustainable.
The best property managers take a proactive approach to help maintain and improve your investment property.
In essence, having a property manager work with you is all about trust.
As property investors ourselves, we understand the importance of property management and potential challenges.
We started this business to combine our love of property, local knowledge, and bespoke service to give our clients solid rental returns and peace of mind.
After all, we know what it feels like when your property is vacant, or when you let out the property to unruly tenants. We are aware of the maintenance issues, the risk management, the regulation changes and the increase in costs and expenses you face.
That’s why our promise to you is that we look after your property the way we look after our own and to maximise your investment.
Here is a list of the roles we provide our clients with our bespoke full property management service:
- Provide accurate rental appraisals based on the market
- Advertise your property for rent with effective marketing
- Open your rental property for viewings
- Screen tenants including reference checks, rental history review, verify immigration status and confirm they can legally rent
- Prepare and manage the tenancy agreement signing process, handle questions and lodge the deposit
- Undertake rental collection
- Manage your financial accounts for the investment property and provide regular reports
- Manage the condition report process
- Inspect the property regularly
- Organise tradespeople for repairs and maintenance
- Conduct emergency repairs
- Conduct rent renewals and negotiate rent increases
- Solve disputes with tenants
- Provide regular communication to keep you informed
At REKA Property Management, we offer our clients a full property management service with exceptionally low fees. We can do this because we are a web-based agency and have fewer management layers and less overhead costs.
And we don’t charge any agency fees or contract renewal fees for tenants to attract high-quality tenants for our clients.
If you want to know how to achieve solid rental returns and have peace of mind with your property, then call us on +44 (0) 203 286 6468 or email us at Admin@RekaProperty.co.uk