Property management services
Landlords managing multiple properties will likely be familiar with property management services. But what exactly are they and how do these services support landlords? Here, we look at how these services can alleviate pressure and maximise the value of an investment property. Generally, experienced property management teams provide advice and pro-active support to landlords, property owners and investors. They manage a range of on-going activities including income management, lease compliance and asset maintenance. Often, landlords feel it’s cost effective to manage things themselves. However, here’s why investing in a property manager could increase revenue.
Property management Services for landlords
The role of a property manager is to support the landlord but also the tenant. Of course, this is especially important to keep relations between the landlord and tenant professional and efficient. In fact it can also help to reduce stress for the landlord, leaving them more time for other things. Here are some of the services managed by letting or estate agents:
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Lease and regulatory compliance
Managing compliance can help up to date with building regulations, planning laws, fire and other statutory matters.
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Tenant relationship management
Proactive relationship management establishes good communication and relations, therefore helping to improve retention and maximise tenant occupancy.
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Procurement
Procurement and 3rd party supplier management helps to maximise value for money.
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Insurance
Insurance management ensuring all required insurances are compliant, suitable and current.
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Utilities management
Management of all essential utilities including electricity, water, gas, waste management, telecoms etc.
In conclusion, property management services are essential for any successful property investment strategy. And, if implemented correctly, can help to safeguard rental income and property asset values. If you’re a property owner, landlord or investor looking to enhance your property investment please contact our property management Norwich team. We will be happy to discuss how Thompsons Lettings can help you today.