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Article > If You Can't Keep Up With The Pressures

Article kindly supplied by Mike Clarke

Owning and managing a property can be a tedious affair. Though you may feel proud of owning a property, the issues and matters related to the property never seem to end … they simply keep on accumulating!

If you find property management and its issues going out of your hand, or you are unable to keep up with the pressures, you should consider enlisting the service of a Property Management Company.

Property Management Companies have been formed to supply suitable services and effective tackling of property related issues. These Companies are experts in handling property related tasks and offer their services to you at what could be considered nominal rates (although I'm sure that many people will disagree!). You could begin locating a Property Management Company which is reputed, well established and has been in business for number of years. It pays if you cross check with their Clients and check out their referrences before you employ them.

Services offered by Property Management Companies vary, but most offer Tenant Find only and Full Management, with every conertation and service you could imagine in the middle.

Finding Tenants
If you wish to rent out your property, be it a flat or a house, you need to find Tenants who are on a look out for the same type of property. Looking out for a Tenant, means you need to spend time searching for them, showing them your property, agreeing the rent and sealing the final deal which includes the Assured Shorthold Tenancy Agreement and other paper work. The Property Management Company undertakes to do so by publishing advertisements in newspapers, distributing flyers and various other means.

Crosschecking the Tenants
The potential Tenants who have shown an interest in the property need to be cross checked thoroughly with regards to their credibility and affordability. They should not be hiding from the law while being able to pay rent on time so it is worth your money to use a tenant referencing service. The finalising of the deal, the credit checking of the tenant, the signing of the Tenancy Agreement, legal paper work and other processes can be undertaken by the Property Management Company.

Collection of Rents
Rents need to be collected usually on a monthly basis. You need to ensure this process is done on time and in a professional manner. This is because several other payments follow rent collection eg. mortgage payments and other monthly maintenance costs. A Property Management Company will arrange the payment method, collect the rent and then pass it on to you minus their costs. Some will pass on the rent immediately, whereas, others will keep the money in their Client Account and pass it to you at the end of the month. You can also get additional peace of mind that you will receive the rent by taking out a special rent guarantee insurance policy.

Property Maintenance Issues
Owning a property and renting it out also requires maintenance. There may be issues relating to water, electricity, gas etc which may require urgent attention as and when the problem gets brought to your notice. If it happens at odd hours, you are likely to be unaware as to how to solve the issue as urgently as possible. At this point Property Management Companies are well prepared to face these eventualities. They keep contact details of most local tradesmen handy and who offer emergency as well as 24 hours services. In the case of an issue, a simple call made to them definitely solves the matter in the shortest time possible.

So, if you find you can't keep up with the pressures of renting out a property, then employing Property Management Companies does help as they are experienced and expert enough to handle most issues and problems related to property and its maintenance.

A great place to find a Property Management Company, is to check out mypropertypowerteams Letting Agent directory page! CLICK HERE





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