As an owner of a property you may be considering selling or renting. This means that you may be in need of a professional – someone who will be responsible for the essential stages of the process but which you yourself may not have time for. Learn more about property management agents.
WHY HIRE A PROPERTY MANAGEMENT AGENT?
- You may own multiple properties and are finding it hard to effectively oversee them
- It may be because you feel you don’t have the experience necessary to go through the rental process on your own
- You might prefer to have a professional deal with tenants rather than deal with them directly yourself
- It may be because you lack the time needed to to juggle the maintenance of the property
It is important when deciding on which agent or company to hire that you know what kind of services are provided, and what aspects of the property they will be responsible for.
Managing property on behalf of the owner happens according to terms which both client and agent will have agreed on previously. Even though the management of the property will be conducted by an agent, the ultimate authority will always lie with the owner.
WHAT ARE THE RESPONSIBILITIES OF A PROPERTY MANAGEMENT AGENT?
The different services that property management agents provide include:
- Advertising your property to potential tenants
- Sourcing suitable tenants for the property
- Providing the owner with information regarding property market updates and the latest safety regulations
- Collecting rent from the tenants and transferring them to the owner’s bank account
- Carrying out the necessary inspections to make sure that the property is being taken care of
- Providing the tenants with notice about the end of the tenancy period
- Dealing with any legal issues such as evictions, harassment, non-payment, and squatters
- Handling any complaints from the tenants and being present for any repair issues
BENEFITS OF PROPERTY MANAGEMENT AGENTS
The help, reassurance, and responsibility a property management agent can provide to an owner should not be underestimated. Some of the benefits associated with hiring someone to manage a property on your behalf include:
- They will bring an organised approach to the planning and financial aspects of property management
- They are responsible for many tasks the owner may not have time to do, such as answering the needs of the tenants in relation to repairs, carrying out the necessary inspections, and organising property maintenance and renovation
- It is a property buying agent’s job to manage properties – they are experts in this field and they have years of experience in all related tasks. A professional agent will know the correct steps to follow in all property-related issues
- They can also provide invaluable advice thanks to their years of experience, in areas such as property laws and the hiring of other professional services needed for the property
Property management agents can be great assets to property owners. They are responsible for all property-related issues and they ensure a stress-free and non-time consuming experience for the owner.
For more information on our Letting & Property Management Service, you can read our most recent article here.
If you are interested in any of our services here at Eldron Property Consultants, why not request a free consultation and we will get back to you to organise a suitable time.