Property management is not a concept that everyone is familiar with, but if you are a property owner, it is worth understanding what a manager does and what one could offer you.
Property management is done by either a company or an individual, and it covers the day-to-day care of a property. That could be an individual home or a group of homes, again as individuals or as a block of flats, for example. The property manager takes on the responsibility for the property on behalf of the landlord and can provide a very useful service, especially when the landlord lives some distance away or is a company. In these situations, they take on “block management” responsibility.
What Does Property Management Entail?
The term covers all day-to-day maintenance, including interior and window cleaning, gardening, and general maintenance. The list is not exclusive or exhaustive, so check the details in your contract. The Property Manager might also see that regular maintenance checks are carried out in a timely manner, keeping records and appointing qualified, reliable tradesmen to undertake repairs and maintenance.
The management will ensure the quality of work is up to scratch, and they will be deal with the payment of contractors, providing a complete service for the landlord.
Other services offered by a property management business that would be useful to a landlord could include emergency or out-of-hours support. Finer contract details will be down to the individual landlord and property management firm, though the main aim is to make things as smooth as possible for the landlord and ensure that everything is in place for the tenants, with routine maintenance carried out with minimal impact.
For more information on the benefits of investing in property, check out the advice on The Money Advice Service. From there, you can decide whether Block and Estate Management will be the right option for your situation.
If you do decide to get a third party involved in the running of your property, look to a reputable agent with experience, and choose Block and Estate Management through Complete Property Group or a similar business.
As you would with any service, such as estate agents or legal advice, shop around until you find one you are comfortable with and make it work for you!