Owning a rental property can be a great source of income, but it also brings with it a lot of extra work, hassle and stress. When you start adding more properties to the mix, the workload only goes up. That’s why more and more savvy landlords are deciding to work with a property management company across their portfolio – whether that’s one property or several. In this post, we explore the benefits of this increasingly popular way of working.
What is property management?
Property management is when you work with a trusted partner on the marketing, management and letting of your property. Such partners, typically letting agents or dedicated property management companies, will usually take care of all of the day-to-day running of properties and tenancies, leaving you with increased peace of mind and more time to focus on other business.
What are the benefits of property management?
The main benefits of property management relate to your quality of life as a landlord. Working with homes4u will reduce your worries and workload, while maximising the yield on your property.
this is a big one. If you’re managing your own properties, you’ll know all too well the list of things you have to do: marketing the property, screening tenants, conducting viewings, keeping the property maintained, collecting rents – the list goes on. We’ve become specialists over the years by helping landlords through these areas. Letting us manage your property for you gives you more time to focus on the important things in life. We have a 24/7 emergency helpline for tenants too. This is manned by our property managers, Meaning you won’t be bothered all hours of the morning.
Reduce legal hassle:
as well as the abovementioned and seemingly never-ending work that goes into a self-managing rental property, there are also all the important details to be on top of, particularly when it comes to legislation. Rental laws in the UK have changed quite a bit over the past few years, leaving some struggling to keep pace. Our dedicated compliance team constantly reviews and keeps informed of the ever-changing set of rules and regulations which govern our industry, ensuring you’re always kept up-to-date. And there is less chance of rent arrears leading to legal proceedings, too: at homes4u, our managed arrears level is on average less than 2%, across more than 1,500 properties.
Find better tenants:
everyone knows that problem tenants can all-too-easily add to the first two problems on this list, wasting your time and potentially causing hassle. We have our own reliable and documented screening process capable of spotting potential problem tenants early on, shifting the focus onto those of a better quality. Speak to us today to find out more.
Decrease tenant turnover:
better quality tenants usually means happier tenants, but just in case, we’re here to act as a buffer and be the first point of contact for tenants and their needs. No need to answer the phone for maintenance queries – leave that to the property managers. Any questions or issues the tenant has can be handled by us, reducing your workload and your stress levels. When tenancies are managed more attentively, turnover usually goes down.
if tenants are living in your property longer because of the quality of the property management they are receiving, that goes a long way towards addressing a challenge faced by all landlords: empty properties. By working with us, you can not only increase the length of tenancies, but also reduce the amount of time properties are vacant in between them. That’s because with over 30 years experience, we have processes in place to market your property, from how it is pushed out online, to where the rent levels are set, to how the property is dressed for photography – all taken care of. Our dedicated rental administration team ensures the swift processing of funds, leaving you with one less thing to worry about.
How can homes4u help?
As one of Manchester’s longest-established and most highly decorated property management companies, we are committed to making tenancies stress free for you and your tenants alike. Our established brand, high street presence across South Manchester, Cheshire, Manchester City Centre and North Manchester, responsive website and award-winning social media are just some of the resources we put into making sure you make the most of your rental property. We’ve been doing this since 1990, so you know you’re in safe hands. We’re dedicated to providing you with the best possible service and up-to-date knowledge which is why 70% of our property team hold or are studying for recognised industry qualifications.