Cityvisitor blog

Why landlords should hire a property management company

Are you dealing with troublesome tenants?

Want to get the best return for investment on your property?

Haven’t got time to handle repairs and requests?

As a landlord you need more help than you think, and that’s when property management comes in. 

What is property management?

Property management is day-to-day oversight of commercial, residential and industrial estate by a third party contractor. Their main purpose is to manage routine property tasks and preserve the value of the properties they manage while generating income. 

What would a property management company do?

Landlords property management would deal directly with tenants and potential prospects, saving you time marketing your property, handling repairs, dealing with tenants requests and complaints, collecting rent and in some cases pursuing eviction notices. A property management company, such as Kings Lettings, has unbeatable experience when dealing with such matters, so you can be rest assured that your property, and investment, is in safe and reliable hands. As a management company is an independent contractor, you avoid the hassle of being an employer too, giving you more time to spend on the things you enjoy. 

When should I consider using a property management company?

All landlords can benefit from someone else managing their property, however you should definitely think about using a property management company if: 

You own more than one property 

If you own more than one property it can be hard multitasking all the units, requests and tenants you have to deal with. A good property management company will take all of this off your hands. They’re especially great if you need to deal with legal aspects such as non-payments, evictions, harassment or even squatters. 

You don’t live near your rental property 

How can you properly manage a property you don’t live close to? Travelling between properties can be tiring and extremely time consuming. A property management company can deal with everything related to your property, so you can spend less time travelling and more time enjoying your permanent residence. 

You have limited time 

Time is precious, and allocating this time to tackle issues and problems with your property can become tedious and time-consuming. Whether it’s spending more time with your family, or growing your business, a letting management company could take away those long-drawn tasks and replace it with your own quality time. 

You struggle with hands-on management 

Finding the right tenants is not always an easy task, and you may view the property as investment alone and therefore want little to do with the day-to-day management. 

What can you gain from property management?

  • The marketing of your properties to tenants 
  • The finding of suitable and dependable tenants 
  • Professionals accompanying tenants to view properties while dealing with a multitude of enquires 
  • Ensurance of references and credit checks performed correctly to ensure reliable tenants
  • Information on the latest safety regulations so you’re always up to date and compliant 
  • The preparation of tenancy agreements 
  • The organisation and collection of tenant’s deposits 
  • Inventories and repair assessments conducted for you 
  • Rent collections from tenants 
  • The transfer of rental income to your designated bank account with monthly or weeks statements of account
  • The management of any repairs 
  • Monthly detailed inspections on your behalf 
  • Notices provided at the end of tenancy on your behalf 
  • A quick re-let of your property to minimise any void period
  • The safety of legal aspects covered such as evictions, harassment, non-payments or squatters.

I’m considering letting my property – what should I do?

The key to successfully renting your property, or managing properties, is to engage the services of a specialist property management agent to act on your behalf and who will guide you through the various stages.  Ideally you should contact your local Kings office in London, Reading, Windsor, Maidenhead or Staines to make an appointment for them to meet with you, view the property, and discuss your options. They will talk you through the whole process, give you up to date advice on current legislation, provide you with a rental assessment, and answer any concerns you may have. Please note, this initial consultation is completely free and they love to listen and guide you through any reservations or queries you have regarding using a property management company. 

Hire a property manager 

Kings Lettings is not only an award-winning lettings agency, but also a bonded member of ‘The Association of Residential Lettings Agents’ [ARLA], ‘The Dispute Service’, and ‘The National Federation of Property Professionals’, and Government-accredited as a ‘SafeAgent’ for money protection. Kings’ staff are highly trained, experienced and motivated to provide the best lettings service around. 

Boasting 50 successful years, trust in Kings Lettings today: 

T: +44 (0)16 2863 2188 | E: MAIDENHEAD@KINGS-LETTINGS.CO.UK

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