Handing over the responsibilities of your property portfolio to a landlord property manager is not a decision you will make with haste. When deciding to use the services of a property management team you will want to know exactly what you are paying for. Below is a breakdown of what to expect from your property manager. Here at BBN we can source the most professional team for you to ensure you really benefit from hiring a manager.
Landlord Property Manager : The Face of your Portfolio
Handing over your property portfolio to a property management team means that you will no longer me the face of your property. This comes with welcome relief. But, it is essential that the face of your portfolio works for you and with you and is an asset to you.
Dealing with tenants is a major part of your property manager’s work. All tenant-related issues should be dealt with for you. Your tenants should be instructed to contact your manager and not you when problems arise. A professional manager can handle everything from maintenance to problem tenant issues.
Landlord Property Manager : Communication
In order for your relationship with you chosen property manager to work there must always be good lines of communication. As much as you will like that all repairs will be carried out on properties, you need to know where your budget is going and you don’t want any nasty surprises. Your manager should keep you informed about problems, vacancy rates, and also any legal issues.
Landlord Property Manager : Maintenance
Your landlord property manager should work closely alongside his chosen property maintenance team. Routine inspections should be carried out on order to ensure large repair bills are avoided. Your properties should always be kept in a good condition, and maintenance should include the grounds and gardens as well. Maintenance duties can include the mowing of lawns, painting, cleaning gutters, and repairing faulty appliances.
Your Budget
As mentioned earlier, your landlord property manager is employed to ensure you keep to your budget. If you monthly outgoings are exceeding your income from rentals, then something is amiss. You should have a good relationship with your property manager. Monthly meetings in person are a good idea, to discuss any changes, and to go over budget and outgoings.
The small monthly fee you pay for the services of a property management team are well worth the money spent. Unless you own only one or two properties, trying to manage them yourself as well as your day job is impossible. Repairs will get forgotten about, tenants will become grumpy, and rightfully so, and your name as a property owner will suffer.
Conclusion
For the best property management and maintenance teams, contact us here at Bristol Builders Network today. We know what it takes to ensure your portfolio is correctly managed. We can put you in touch with the most professional companies in and around Bristol and Somerset.