When looking to invest in a property, or if you’re a landlord of a commercial or residential property, you may be looking into the services of a property management company to help you manage your assets, but what are the benefits of this?
Here at Prideview Properties, we are leading commercial property agents in London, and with our vast experience in the property market, we have put together a list of how property management services can help you. Rent Collection Generally, you would hope that your tenants would be able to pay their rent in full, on time every month. However, we all know how unexpected life can be, and that can cause unforeseen financial problems which may affect their ability to get the money to you. With a property management service, you will be able to relax while someone else takes charge of overseeing that rent payments are made on time, and they’ll be able to deal with any disputes tenants may have with paying their rent too. This also means they can provide support for your tenants if they find they’re unable to pay their rent, ensuring that you have a steady income to cover your costs. Manage Lease Renewals and ReviewsTo make sure both you and your tenants are in agreement with their lease contract, a property management provider can take the weight off both your shoulders by making any renewals of leases, as well as ensuring any necessary changes to rent are as easy and as argument-free as possible.
Rent is inevitably going to go up or down at some point, and being able to broach this subject without causing conflict can be stressful, especially if you are the landlord. You don’t want to seem like the bad guy while trying to cover your own costs, so having the expert advice of a property management provider can be a handy asset to you. Keeping Up With LegislationLet’s face it, you probably have a lot on your plate, so when are you going to have time to sit down and look at any changes to legislation? This is where having the aid of a professional property management service comes in. Specialising in everything property related has its perks; even reading through all the lovely legislation changes that are announced so you don’t have to. Keeping you compliant means that both you and your tenants are covered by regular necessary checks and that you’re able to provide a safe living environment.
As a landlord, you are responsible for your tenants, and it’s very important to keep up to date with legislation to make sure your responsibilities towards your tenants are met. Gas checks, electrical checks, fire safety regulations and making sure all your tenant deposits are secure in the correct approved scheme are just some of the important factors that legislations require you, as the landlord, to commit to. Making the Most from Your InvestmentBeing able to get the most out of your property to benefit both you and the people living in it is something a lot of landlords aim for, but sometimes can’t fulfil. With a property management team on hand to deal with how and where to market your home to attract the perfect tenants, and simple tasks such as maintenance schedules to prevent any repairs costing more than they need to, being able to have happy tenants in turn makes you a happy landlord.
The beauty of being able to plan a maintenance schedule is that tenants will know exactly when maintenance checks will be performed, and can prepare in advance for any repairs that need to be fulfilled. These checks also survey any potential repairs that may need to be addressed in the future, making the cost of the repair far cheaper; repairing a tap is more cost effective than having to fix the whole sink! Here at Prideview Properties, we are dedicated to providing you with the best quality services to aid you in any aspect of commercial property acquisition, management and sale. For more information on any of our services, don’t hesitate to contact us on 0208 863 8680 and speak to one of our friendly team.