LANDLORDS:
Guide to Different Management Options for your Rental Property
As a landlord, there are several property management options that you can choose from to suit your needs. Here, we take a look at the main options to help you choose which level of management is right for you.
Full Management Service
A full management service provides exactly what the name suggests – everything you need to ensure that your property is managed effectively. This includes vetting potential tenants through a referencing agency and ensuring that they have the right to rent in line with legislation. The security deposit will be collected and utilities will be arranged so that these are correct for each new tenant. Rent payments will be taken each month, and any maintenance issues with the property will be dealt with by the lettings agent.
Property checks are carried out three times a year, and you’ll be provided with a report detailing its condition.
Tenant Find and Rent Collection Service
A tenant find and rent collection service is ideal for landlords who want to manage the maintenance of their property themselves but don’t want to be responsible for finding tenants and collecting rent. A tenant will be found and all necessary checks carried out to ensure that they’re a good fit for the property. The deposit will be collected and registered with the Deposit Protection Service, and the first month’s rent will be taken too. Monthly rental payments will then be collected as agreed and any missed payments will be chased up.
Tenant Find Only Service
The most basic service offered, a tenant find service will simply ensure that a suitable tenant is found. This will include the marketing of the property, carrying out accompanied viewings, completing the necessary tenant checks, and dealing with the legalities that come with the commencement of a tenancy.
If you’re looking to use one of our lettings management services, contact our expert team today for further information.
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