Managing a property alone can often lead to complications, for this reason, many landlords choose to use the services of a professional lettings management company to benefit from the time-saving advantages and other protections provided. This can be especially beneficial if you are absent for long periods of time or live in a different location to where your property is located.
If your property rentals are purely for business purposes and you have no interest in hands on management then a lettings company will be able to remove the burden and stress of being a landlord. Remove the hard work from finding good tenants, hiring repair people to maintain your properties, and chasing rental payments.
Whether renting one or multiple locations, having a lettings company manage your properties can help deal with tenant issues and several other items that could potentially cause problems.
Lower turnover
As a business, a lettings company is always available to respond to tenant concerns and questions in a timely manner, improving the relationship between landlord and tenant resulting in better tenant satisfaction. As problems do not always occur during working hours, many companies operate a 24-hour service line that provides tenants with a point of contact at any time of the day or night to provide assistance. Because issues are dealt with faster, tenants are more likely to remain in the property and pay rent for longer durations.
Less legal complications
If you lease properties to tenants, there will be times where you will run into legal issues. These can be for everything from recovering unpaid rent or evicting tenants to problems with poor maintenance and property damage. Companies that manage lettings professionally will be up to speed on the latest laws and regulations and may be able to handle your legal issues faster and more cost-effectively than you could alone.
Prompt rent payment
Collecting rents can turn into a headache, especially if you are unlucky enough to have a problem tenant. Non-payment of rent is possibly the biggest problem that landlords have to face. Lettings Management Companies are well versed in rent collection and should be able to deal with any difficult tenants efficiently. They can protect your interests as a landlord and take the necessary steps to enforce lease agreements or begin eviction proceedings on your behalf.
Reduce maintenance expenses
Property Management Companies frequently have their own maintenance staff on hand that can be despatched quickly to deal with any repairs or problems with the property. With the benefit of a dedicated maintenance person, tenants have the security of knowing that repairs will be carried out properly, and may even build a rapport with the maintenance provider. Proper maintenance means fewer issues in the future and preventative steps can help save landlords money in the long term.
Better quality of tenants
Having quality tenants that care for the property and pay rent on time can save a ton of problems further down the line. Lettings management companies that are experienced in tenant screening and that can run a number of background checks will be able to find you great tenants. Sometimes even though a tenant can look viable, a bit of digging may uncover issues. Running credit checks will ensure that the potential tenants have a good payment history and references or will ensure the good character of the new renter.
Final Words
For landlords that wish to maintain good occupancy rates and maximize rental values, a lettings management company may be the answer. Contact Revive today and learn how we can help you improve your property management www.ReviveSL.co.uk
All information posted on this website is merely for information purposes. It is not intended as a substitute for professional advice. Should you decide to act upon any information on this website, you do so at your own risk