Why Should You Hire A Property Management Company?

By Author: Finn Mackenzie
Total Articles: 2
Comment this article

The choice to hire a property management company could be many. The landlord may live abroad. It may be a landlord with one or several properties. The property could be a recent inheritance. It could be the case that the property is an investment, with income earned from renting it.
In Central London, the potential of a high-income stream means it can be very lucrative to rent out your property. The choice of firms in London is vast. However, finding a firm with the right experience of property management in London that you require can be challenging.
The Legal Knowledge
A new law called the Tenant Fees Act came into force in June 2019. This means that tenancy deposits are capped and landlords and agents are banned from charging unnecessary fees. Deposits are now capped at 5 weeks. If these laws are broken, the landlord may be penalised heavily. Certificates for wiring, smoke alarm and gas inspections for also required and have to be kept up to date. Being a landlord is a full-time job in and of itself. You may already be in full-time employment, so the time you can devote to these tasks may be limited.
...
... The Services that will benefit you
House Inspections
Property management firms should be carrying out regular house inspections every 6 months. This is to be aware of any damage that may have occurred or any untoward behaviour by tenants.
Setting The Rental Rate
This rate must be based on solid research. Its calculation is based on factors such as the locale, the property value and current market data on comparable properties. If done correctly, this research will give you the best return on investment possible.
Tenant Screening
Screening processes can vary so it is vital to be aware of the protection offered by the firm is something goes wrong. There are certain questions you can ask that will give you an idea of how they conduct their business and thereby protecting your investment. Is there a fee to hold the property and take it off the market? What are the methods used to screen prospective tenants? What is your eviction rate? What is your tenant turnover?
How we can help
Finding the right property management firm for your needs is paramount. That firm must have a proven track record that comes with recommendations from trusted colleagues and your local apartment association. At Fresson and Tee, we provide a service to prepare budgets and provide regular rent and service charge accounting reports to both landlords and tenants. We have extensive experience in handling landlord and tenant matters relating to the occupation and management of properties.
We care about every detail, just as much as our clients do. We have 90 years worth of occupier satisfaction, efficient repairs and preventative maintenance in Central London behind us. We are are a highly respected, independent and progressive firm. We always provide expert, professional advice to our clients. We take enormous pride in building strong relationships with every client we work with, both large and small.