How a Property Management Agency Can Help Landlords Manage Their Investment

The management of commercial and residential properties is the responsibility of a property management agency. These companies offer services that help property owners manage their investment, including finding tenants and collecting rent payments. They also take care of maintenance and repairs and provide monthly financial statements to the owner. They typically charge a fee for these services, which can range from 5% to 15% of the rental income.

The company advertises the property, handles tenant inquiries, screens applicants, selects tenants, draws up a lease agreement, conducts a move-in inspection and coordinates any maintenance issues with the tenant. Its team of professionals includes a registered architect, chartered surveyor, building inspector and professional surveyor, with senior members holding ARLA recognised qualifications.

Managing an investment property can be challenging for a landlord, especially when the property is far from where the owner lives. A property management company can keep better tabs on the property if it is not easily accessible and save time and money by taking on routine maintenance and daily operations.

Landlords often have to deal with late or even non-payment of rent. Property managers have experience dealing with these situations and know how to handle them quickly and effectively. They can often work out a solution directly with the tenant, saving you the cost of a lawyer or court fees.

Property management firms also stay up to date with landlord-tenant laws and ensure they are adhering to them, reducing the risk of expensive legal battles. This is especially important for landlords who have multiple rental properties in different states or areas. property management agency

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