The best kind of investment is one that gives you passive income. That’s why many people have taken a leap and invested in rental property. However, being a landlord comes with many responsibilities - marketing your rentals, collecting rent, handling maintenance and repair issues, responding to tenant complaints, and even pursuing evictions. Using the services of a rental management company can handle all these tasks, making life simple for you.
There’s a lot of work to be done before the property is rented. Once all the furniture and fittings are in place, everything should be spick and span so that photography can be done. Good quality photos can be used not only to attract possible tenants, but they also serve as a record of items and their condition.
Your rental manager will take care of the marketing and all that goes with it. They can help prepare a market valuation. Apart from advertising online and through their network, the rental manager will screen potential tenants to see if they would be a good fit. Some will be invited to view the property, and this is where a helping hand will be extremely useful. The rental team organises viewings and accompanies prospective tenants during their viewings, making sure COVID safety precautions are followed and guarding against theft.
When you receive an offer, your rental manager can negotiate with tenants and come to an agreement. Once both parties agree, it’s time to get everything down in writing. Your rental manager will be able to prepare a rental agreement and customise it to your needs. Apart from this, they will also prepare an inventory of all items in the property, and arrange to get an Energy Performance Certificate done. Once all parties sign, the contract must be registered with the Housing Authority within 10 days.
During the tenancy, your rental manager will make sure that everything goes smoothly. That includes picking up the rent and sorting out any maintenance and repair work that needs to be done. As this is their field, they always have the right technician to expedite whatever needs to be done. Should complaints arise, they are the first point of contact to try and correct the issue. In extreme scenarios, your rental manager will also be there to handle an eviction, however they will do everything in their power to come to an agreement with both parties and avoid this situation.
Working with a rental management team will take a load off your mind and ensure that your rental is done right. It’s a welcome helping hand when things go wrong, especially if you have multiple rental properties under your belt. Get in touch with us today to find out more about how rental management is the right choice for you.