How a property management company
can solve your lettings headache
You’ve let your rental property to tenants, but how can you make sure you’re on top of everything from gas safety checks to regular maintenance and rent collections?
Managing a property let can be a big headache if you’re not up to speed with all the rules and regulations, and you might not want to deal with the 3 am call for a burst pipe, so it’s worth considering using a property management company.
Management contracts can offer a variety of options to landlords. However, most clients opt for a fully managed service that includes rent collection, regular property inspections, routine and emergency maintenance, tenancy renewals and terminations, inventories and check-outs.
If you live a distance from the rental property or are an inexperienced landlord, a management contract can offer peace of mind. Here are the main advantages:
GETTING THE RULES RIGHT
Legislation is continually changing, and landlords can find themselves on the wrong side of the law if they don’t fulfil all their legal obligations. Properties must adhere to the Scottish Government’s Repairing Standard, and there are requirements regarding tenancy agreements, gas and electrical safety certificates, fire alarms, legionella checks and much more.
The Scottish Association of Landlords website offers information and advice for landlords, with regular updates on changes such as the Scottish Government’s model private residential tenancy. Still, a property management company will take care of all of these issues and ensure you’re fully compliant.
If your tenant needs emergency help or maintenance, can you always be available within a reasonable time? Often landlords live a considerable distance from the property or work elsewhere and can’t be instantly contacted.
Maintenance often requires a skilled tradesman who can be trusted to carry out work at a competitive price or at short notice. A management company holds keys to the property, is available 24/7 and has a bank of contractors for regular maintenance and emergency call-outs.
Repairs up to an agreed cost can often be carried out without the landlord needing to be consulted, resulting in minimal contact and disruption.
CHECK IT OUT
Regular maintenance inspections need to be carried out to ensure the property is being looked after, and there are no significant issues that haven’t been reported by the tenant. Making arrangements to visit at a convenient time, and tackling awkward issues can be challenging for some landlords. Still, with a property maintenance company, the problem is taken out of their hands.
Regular inspections are booked in advance with the tenant, and reports are sent to the landlord for a reference. The property is carefully checked, and any issues are taken up with the tenant on the landlord’s behalf, ensuring the property is maintained to an acceptable standard.
TAKING THE PRESSURE OFF LANDLORDS
Handing over the work to an industry professional ensures everything is conducted correctly, from tenant check-in and check-out to paperwork and financials. Good property management companies have efficient processes in place to deal with hundreds of properties simultaneously, taking the pressure off for busy landlords.
Clan Gordon has been managing rental properties for landlords in Edinburgh since 2007 and has more than 500 Edinburgh properties on its books.