Benefits of having a property management company assist you with your lettings

If you are considering letting a room, studio flat, house or even an estate, a property management agent can be very valuable in taking care of the whole process for you.

Property management agents are able to provide a variety of services; from the collecting of rent, the day-to-day management of the property and also dealing with any legal aspects of the property and the let on your behalf. So we have highlighted some points below that property management agents can offer you and which ones you should look for when selecting the right agent for your property?

What’s the right time to use a management agent?

Whether you are an active landlord or you are managing the property yourself, the choice as to whether you would like a property management company to undertake the tasks on your behalf is down to you and your circumstances/experience. Another thing that can determine this is if you own several properties, letting out to several people or own a large area of land, then you may not be able to handle all the logistics of keeping the properties maintained, so that’s where a property management company could come in and assist you.

Also, you may not want to deal with all the financial and legal aspects of the letting the property directly with your tenants and prefer to have it all dealt with by experienced professionals. Whatever your circumstances, a property manager can provide you with a wide range of services designed to make the process easy and relatively painless for you as a landlord.

What services do a property management companies offer?

A property management company will provide you with the full range of management services for your properties. In certain circumstances, the property owner will only hand over a selected few tasks to a management company and choose to handle some aspects themselves, but if you choose, you can pass full responsibility to the company. So what are the services a typical property management company offer?

The property management company will act as the middleman between the owner of the property and the tenants who are renting it and are often responsible for the following:

  • Advertising/Marketing your property to potential tenants

  • Sourcing suitable and reliable tenants for the property

  • Accompanying potential tenants to view the property

  • Obtaining references and conducting credit checks on potential tenants

  • Providing you with all information on the latest safety regulations

  • Preparing the tenancy agreements on your behalf

  • Organising and managing the collection of the tenant’s deposit

  • Preparing the inventory and conducting a state of repair assessment on the property

  • Checking in the tenant and agreeing on the inventory

  • Collecting the rent from the tenant

  • Transferring the rental income to your account and providing you with statements of account

  • Managing and arranging any necessary repairs

  • Inspecting the property periodically and feeding back any comments to you

  • Providing tenants with notice at the end of the tenancy

  • Re-letting the property as quickly as possible and minimising any breaks in income

Dealing with legal aspects of the tenancy and property, including evictions, non-payment, harassment or problems with squatters is also another service property management companies provide.

What do I look for in a property management company?

One of the most important things to look for in a management agent is their qualifications and credentials. Check to see if the management company is a member of the Association of Rental Letting Agents. ARLA has recently introduced an award called the Technical Award in Residential Lettings and Property Management. Look out for this accreditation when selecting a property management company. ARLA lists qualified management agents on their website, so it’s a great place to start looking for one that lives near you.

A good recommendation can go a long way. Check with friends or acquaintances that also employ a property management service to understand what their experience has been with their agent.

The majority of property letting agents will offer both letting and full management services, but talk to several and negotiate and understand their terms before deciding which to the agent to instruct. Make sure you know which services you are getting and what you’re paying for, either as part of a package or as extras. Ask about ‘To Let’ boards, newspaper adverts, websites, magazines and their own marketing ideas.

How much does a property management company cost?

The cost of instructing a management agent will depend on which services you buy into. The majority of management agents will ask for a percentage of the gross rental income, rather like a commission. Don’t always be tempted by the cheapest fee, however. You want your agent to be motivated to keep the property occupied and the tenants happy at all times, so negotiate a mutually rewarding deal where you can. Fees can range from anywhere between 5 and 10 percent of your gross rental income for a basic service to 15 percent or more for a full management service.

 

7 THINGS YOU SHOULD LOOK OUT FOR IN YOUR RETIREMENT HOME

At Property Property Property we cater to everyone, including our dear pensioners. So this post is dedicated and the start of more to come, that are highlighted specifically to pensioners or those seeking retirement.

We have curated and listed below our top 7 tips on things you should look for in your retirement home:

TIP #1: Ramp or home modification

Now we’re not suggesting that this is a most for everyone, but as most people who are seeking retirement homes for the purpose of living there for the rest of lives, we advise that this is something you look out for. As it is a known fact that strength decreases with age, so looking into securing a property with a ramp and already installed home modifications is a bonus as it will save you time and money in the future when having to maybe install these functions.

TIP #2: Low ceilings

Ideally, when you look for properties, your mind isn’t too focused on the size or height of the ceiling. But as you gracefully age, I believe it is something you should look for in your retirement home. As you’ll still want to be able to have reach of the lighting on your celling and something that doesn’t have an overwhelming effect, such as a high ceiling.

TIP #3: Lower units

Following on from having lower ceilings, you may also consider having lower units. Such as a lower kitchen cabinet, lower bathroom system; anything that doesn’t stress you or is more easily accessible for yourself as you age.

TIP #4: Community park or recreation center

At this age, you are either more free to explore the world or you’re freer to explore your community. We suggest looking for local facilities that encourage pensioner activities or anything that will keep you busy and stress-free in your older years.

TIP #5: Location

Location is a very important factor to consider when seeking a retirement home as you still want to be accessible and reachable to family, friends, and anyone who you are in contact with. But at the same time, aim to look for a more peaceful and scenic neighborhood so that you can enjoy your retirement with less noise pollution.

TIP #6: Maintenance

This leads back to point 3, we just want to reinforce the point that it’s better to look for a property that will require less maintenance work in the long-run. As you wouldn’t want to spend your retirement having to make continuous modifications and alterations to your new home in order to suit your health. Why not jump this step and consider this now.

TIP #7: Transport

And finally transportation. We advise anyone and everyone looking for a new space to look for a location with good transportation links, as this will give you more freedom to travel as this will be something that is easily accessible for you to visit friends or family.

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Also if you have any tips that you could recommend to us, share them in the comments and we’ll be highlighting them in our upcoming articles in the ‘Retirement and Pensioners’ series.

 

 

5 COOL THINGS FOR YOUR CHILDREN TO ENJOY IN THEIR NEW HOME

Parents, do your children complain that your home isn’t cool enough or that little Johnny’s room isn’t as nice as little Maxwell’s is his class. Well, we’ve got some tips for you on how you can make your home look super-duper cool for your kids.

TIP #1: Chalkboard walls

You either find it fascinating or annoying and that is; chalkboards. As a kid, you may remember drawing all over the walls of the house, even though there was paper somewhere in the house. I definitely did.

To prevent that but also encourage your children’s creative abilities, invest in some chalkboard paint. Whether you want to paint a panel, a strip or be adventurous and paint a whole wall; go for it. Make sure you actually have some chalk though and a chalk eraser, to clean it up after.

TIP #2: DIY cinema system

Have you tried having an at home cinema day, where you’ve put in some animated DVD’s for the kids, but the issue is the screen isn’t big enough? But the layout is cool, just the screen causing problems. Well for that final touch we recommend that you consider buying some ‘Projection Screen’ (preferably 100” inch 16:9 and portable), have it pinned up or stuck to your wall and get you a projector next. Then project your films on a BIGGER screen! Get some popcorn too, while you’re at it.

TIP #3: Dedicated space

Whether it’s an entire playroom, a small corner, or a reading nook. We believe that your child needs a space where they can have some chill me-time. But decorate it and make it look a bit fancy for them.

TIP #4: Cool scenery wallpaper

Have you ever been to the jungle? I haven’t, but you could take your kids there. And I don’t mean a real jungle; I mean that you could customise your little one’s room with some scenic wallpaper ranging from an animated jungle, a little princess castle, a tropical island or whatever takes their fancy. These are a really good way to drastically change the appearance of the kid’s room.

TIP #5: Cool storage systems

As a youth, cleaning wasn’t one of my biggest hobbies and I’m sure it isn’t your children’s either. Unless times have changed drastically. But in order to slowly nurture your kids into the art of home maintenance and also teach them good household skills, create a cool storage system where cleaning actually looks exciting. Having some hanging storage bins are quite good, as your children could practice basketball and represent our country in the Olympics.

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Also if you have any tips that you could recommend to us, share them in the comments and we’ll be highlighting them in our upcoming articles in the ‘Family’ series.