Being a landlord is not as easy as many people imagine. There’s a huge amount that goes into letting out a property legally and it requires constant up-to-date knowledge. Whilst some landlords will choose to manage their buy-to-let themselves, many decide to employ the services of a managing agent for at least part of the process. But if you’re unfamiliar with the property industry, the different levels of service can seem like a bit of a minefield. So, we’re here to help by explaining the most common types of service property managers offer, which will hopefully allow you to decide which level of support will benefit you the most.
𝕎𝕙𝕪 𝕦𝕤𝕖 𝕒 𝕡𝕣𝕠𝕡𝕖𝕣𝕥𝕪 𝕞𝕒𝕟𝕒𝕘𝕖𝕣?
Rental properties need to be let our legally and safely, and the legislation that overrules this is complex and constantly being updated. There are hundreds of rules and regulations that surround all aspects of the private rented sector, from the initial advertisement of a property all the way to the other end of the process of a tenancy ending. A qualified letting and managing agent will be able to guide you through the entire process and give you the peace of mind that your property is legally compliant.
Properties don’t need to just be compliant though, they also need to be maintained throughout the tenancy, and this is a 24/7 job, and one which is often too much for a single landlord. Property managers will have a little black book full of trusted tradespeople who they work with all year round and a system in place to deal with issues and emergencies that arise whatever time of day, or week of the year it is, being able to resolve these issues in a professional and timely manner.
Along with this, one of the main benefits of a property manager is maintaining a positive relationship with the tenant. Keeping your tenants happy will mean they will want to stay in the property for longer, avoiding the dreaded void periods, and likely boosting the value and appeal of your rental property, with content tenants being more willing to pay a higher price for a well-managed property. So, whilst a property management service may seem like an expense you don’t need, this small investment could end up making you more money.
Letting agents will typically offer 3 or 4 levels of service, and below we will explain what we here at Aquarius Homes offer, from the least involved, all the way up to managing the whole process for you.
𝕎𝕙𝕒𝕥'𝕤 𝕚𝕟𝕔𝕝𝕦𝕕𝕖𝕕 𝕚𝕟 𝕠𝕦𝕣 𝔸𝕕 𝕆𝕟𝕝𝕪 𝕤𝕖𝕣𝕧𝕚𝕔𝕖?
Aimed at landlords that have been renting property out for a while and are comfortable with the responsibilities this encompasses. With an ad only service we will handle the process up to the point of signing the contract. This includes devising a marketing strategy with you and advertise the property on your behalf. We can carry out the viewings (or you can do it if you prefer) and we can reference any prospective tenants. We will also ensure the initial payments have all been made and answer any questions the tenant may have.
𝕎𝕙𝕒𝕥'𝕤 𝕚𝕟𝕔𝕝𝕦𝕕𝕖𝕕 𝕚𝕟 𝕠𝕦𝕣 𝕋𝕖𝕟𝕒𝕟𝕥 𝔽𝕚𝕟𝕕 𝕆𝕟𝕝𝕪 𝕤𝕖𝕣𝕧𝕚𝕔𝕖?
This level of service is perfect for landlords that want to manage the tenancy themselves, but without the initial admin. You will benefit from our expertise to find you the perfect tenant, and this service includes tailored advertising, accompanied viewings, tenant referencing & checks, ensuring the property complies with all statutory provisions, organising the tenancy agreement, and collecting the initial payments. We can also hold the security deposit in our DPS account if you would like us to, and arrange the inventory and check-in. We will then hand the keys over to you but will always be available to give advice whenever needed.
𝕎𝕙𝕒𝕥'𝕤 𝕚𝕟𝕔𝕝𝕦𝕕𝕖𝕕 𝕚𝕟 𝕠𝕦𝕣 ℝ𝕖𝕟𝕥 ℂ𝕠𝕝𝕝𝕖𝕔𝕥𝕚𝕠𝕟 𝕤𝕖𝕣𝕧𝕚𝕔𝕖?
Our rent collection service is for landlords that can deal with the majority of the day-to-day management but will benefit from our expertise as we effectively and efficiently collect the rent each month for you. As with the previous levels, this service also includes tailored advertising, accompanied viewings, tenant referencing & checks, ensuring the property continually complies with all statutory provisions, organising the tenancy agreement, and collecting the initial payments. We will hold the security deposit in our DPS account, arrange the inventory/check-in and oversee any tenancy renewals/ends. Each month we will take and remit the rent to you and can deal with any rent increases if the time comes. This allows you to focus solely on managing the tenancy and your relationship with your tenant(s) and can avoid any awkward conversations about rent. We will also always be on hand to offer advice and guidance, along with maintenance contacts, along the way.
𝕎𝕙𝕒𝕥'𝕤 𝕚𝕟𝕔𝕝𝕦𝕕𝕖𝕕 𝕚𝕟 𝕠𝕦𝕣 𝔽𝕦𝕝𝕝𝕪 𝕄𝕒𝕟𝕒𝕘𝕖𝕕 𝕤𝕖𝕣𝕧𝕚𝕔𝕖?
As the name suggests, from start to finish we will cover all aspects of managing the tenancy for you, giving you the peace of mind that your property is in the hands of experienced and trained property professionals. This includes finding you the right tenants and doing the necessary referencing and checks, ensuring the property complies with all statutory provisions, organising the tenancy agreement, collecting the initial payments, securing the deposit, arranging the inventory and check-in, and overseeing any tenancy renewals/ends. Along with collecting and remitting the rent each month, providing 24/7 maintenance management, property inspections, ensuring your property continually complies with all statutory provisions, and being your tenants first point of contact, to name but a few.
Still undecided what level of service you think you could benefit from? It all really comes down to how much time you have available to dedicate to the property and your tenants. Not only do you need to be on hand at 7am on a Sunday morning when an emergency plumber needs to be called out, but you also need to find a spare hour on a Tuesday evening to read through and get your head round the latest piece of legislation that needs to be issued correctly in order for your tenancy to remain compliant. Managing a property is a full-time job and keeping a good relationship with your tenants can make that job even harder. If you feel like you could benefit from any level of our service, then get in touch with one of our friendly ARLA trained team. We would love to chat about how we can help you.
Phone - 01225 840 007
Email - This email address is being protected from spambots. You need JavaScript enabled to view it.
