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> If You Can't Keep Up With The Pressures |
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Article kindly supplied by Mike Clarke
MyPropertyPowerTeam.co.uk
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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!
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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.
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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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