Why you need a full property management service
A recent survey of 1,237 landlords (commissioned bizarrely by the DIY website; thehouseshop.com) revealed that with over 145 individual laws and over 400 regulations to follow, it’s foolhardy for landlords to think they can ‘do’ lettings without expert advice.
It found that one fifth of the landlords poled admitted it’s “impossible” to keep up with the constant regulation changes we are currently experiencing. A further 30 per cent said it was “very difficult” and another 31 per cent are finding it “quite difficult” so just 19% felt fully at ease self-managing their properties.
In fact, two thirds of the landlords cited compliance with legislation as the single most challenging aspect of managing rental properties.
Because of all these reasons and many more, we at Lurot Brand have seen a substantial increase in landlords subscribing to our Full Property Management Service which covers:
• Rent collection
• Property management
• Council Tax and utility management and registration
• Pre-tenancy requests; i.e. furnishings, decoration, garden services etc.
• Biannual inspections • Managing “out of office hours” calls
• Annual gas safety certification
• Security deposit TDS registration and management plus negotiating dilapidations
• Providing advice to assist with evictions
• Vacant property management
• Key holding
• Wealth management advice on what and when to spend on the property to maximise your yield.
We are sure all our landlords are more than capable of dealing with everything on this list… but why would they want to?
This article first appeared in Mews News, click here to read the full magazine.