Deciding to rent out your property can be exciting but daunting, which is why many landlords consider taking advantage of the services of a property management company.
Whether you are looking for someone to manage your property to help save time, complications or stress, Cheltenham property management professionals can take care of every aspect for you.
Getting it right
With property management now dealing with contracting, marketing properties, collecting rent, carrying out safety compliance and managing repairs, it is no surprise that standards in the industry are improving. Regulatory bodies now require a greater focus on ethical transparent practices and adherence to codes of conduct, ensuring that both you and your property are protected.
The right company
To help find the best company for you, we have compiled a list of six essential questions to ask:
1. What experience do they have of managing properties?
How many rental units do they manage, what regulation frameworks do they follow, and what insurance cover do they have?
2. What services do they offer?
State exactly what you are looking for and compare their answers with other companies. Will they carry out repairs and safety checks? Ask for specific details of costs.
3. What strategy do they use for occupying your property?
How would they ensure your property doesn’t stay vacant for too long, do they guarantee rent, and do they charge you if there is no tenant?
4. How much do they charge?
Obtain specific service charges and ask what the arrangements are for ending the contract with them.
5. How do they screen tenants?
What processes do they have in place and how do they manage difficult tenants?
6. What control do you have over tenancy contracts?
Do they have an eviction policy, can you set the rent rate, do they expect you to list with them if you decide in the future to sell your property, and how often will you receive updates on your property?
It is important to choose a reputable company such as https://www.completepropertygroup.co.uk/property-block-and-estate-management/ that will bring experience and expertise to the table, enabling you to relax and know that your property is in safe hands.
Taking the time now and asking the right questions will potentially save you precious time and money in the long run.