Benefits of using a property management company
11th Apr 2018
Whether you are a first-time buyer or an experienced property investor, if you would rather have somebody else deal with the intricate details of your property you should have a look into hiring a professional property management company. Any seasoned real-estate investor will say that using the right property management company has several benefits for landlords, especially those who own multiple properties. So here are 4 benefits of using a property management company.
SAVING MONEY WITH CONTRACTORS.
Working for a property management company based in Shropshire I can certainly say that I’ve seen and heard my fair share of unhappy clients from our competitors stating how their service charge bills are through the roof, but if the right property management company is employed you should not be hearing this; the right company should be investigating which firms work best for you at the most realistic prices. Blocsphere Property Management does a comparison of potential services to find who has got the best to offer at the lowest prices. This year, for example, a gardener was hired and their services were used for a short period until another was found at a lower price but of higher quality! A few weeks later we received some positive comments from some very pleased tenants, most notably Mr and Mrs O’Brien who said the gardens looked “absolutely beautiful”, this comment was much appreciated by the team!
AVOIDING LEGAL PROBLEMS.
Any skilled property manager knows the ins and outs of Landlord-Resident laws and with the growing trend towards litigation, people who privately own and manage their properties can put themselves in difficult legal situations if they fail to carry out their responsibilities and this offers an additional peace of mind for the investor; so why must you worry about legal issues when you can employ a fully qualified professional to deal with it for you?
INCREASING PROPERTY VALUE & HIGH QUALITY RESIDENTS.
A good property manager will keep in constant communication with the owner about the property and make sure that any issues are caught early before they grow into a larger, more costly problem. The management company can also offer you suggestions and feedback on upgrades and modifications for the building to increase it’s value and attractiveness on the market.
Also, the right property management company is usually able to spot red flags in applications, this means that they are more than likely to be able to identify desirable clients who are most likely to:
- Pay on time
- Rent longer
- Not destroy the property
- Cause less problems in general
If you have quality guests who will not destroy the units and who will pay on time, the building will develop a good reputation of being a favourable place to live and bring in more high quality, reliable tenants.
PERSONAL BENEFITS.
Here at Blocsphere we are a client orientated company, so you are our priority. By using Blocsphere as your property manager you will experience a number of personal benefits by having us as your property manger:
- Less stress – By not having to deal with ‘middle of the night’ emergencies or fussy clients in general, you can relax knowing your property manager is doing all of the work for you.
- More freedom – As a property owner who uses a property management company you can experience all that a property owner does, but not have to be near your properties. This means that you are free to travel without always having to be available if your tenants have a need that you would have to tend to.
A FINAL THOUGHT.
Yes this is an idealistic outline of a property management company, but these results can be expected from Blocsphere; a reliable, trustworthy, approachable team. On the other hand, the wrong choice in management could result in a completely different problem.