It can be a lot to handle, which is why many people choose to hire a residential property management company such as Yates Hellier.
A property management company is a business that specialises in taking care of all the details surrounding a rental property.
This includes everything from finding and screening tenants to handling repairs collecting rent, and ensuring the property meets current building regulations.
In most cases, property management companies will also be responsible for marketing the rental property to potential tenants.
If you’re considering hiring a property management company, then you should know what to expect from them.
Property Management responsibilities
The services that a residential property management company offers can vary and may depend on what is stipulated in the contract you sign with the company, but most companies will provide the following services:
Marketing the rental property
A good property management company will ensure that you maximise your rental yield by carrying out property and market rental appraisals.
They will also have a good network of potential tenants and an effective marketing strategy to make sure your property is rented out quickly.
Finding and screening Tenants
One of the most important services that a property management company offers is finding tenants.
They are responsible for advertising the property, screening potential tenants, and conducting interviews.
They’ll also screen tenants to make sure that they’re responsible and will take good care of your property.
This includes conducting background checks and credit checks to make sure that the tenant is responsible and will be able to make rent payments on time.
Handling the tenancy agreement following rental laws
In some cases, the property management company will also be responsible for handling all aspects of the tenancy agreement.
This includes making sure that the tenant understands their rights and responsibilities and that they are following all the rules of the tenancy agreement.
The property manager will also make sure that you are following all the laws and regulations surrounding rentals.
Rent Collection
In most cases, the property management company will handle all aspects of rent collection, including sending out late payment notices and even evicting tenants if necessary.
Handling repairs and maintenance requests from tenants
Another important service that property management companies offer is repair and maintenance.
If there are any issues with the property, it is the responsibility of the property manager to have them fixed in a timely manner.
This can include everything from fixing a broken window to dealing with a flooded basement. You shouldn’t have to worry about a thing.
Keep the property clean
A good property management company will also keep your rental property clean and well-maintained.
This can include things like landscaping, snow removal, and general cleaning.
You’ll always know that your property is in good hands.
Making sure the property meets building regulations
One of the property manager’s responsibilities is to make sure that the property always meets all national building regulations.
This includes making sure that the property has working smoke detectors, carbon monoxide detectors, and fire extinguishers.
The property manager will also handle any necessary repairs to make sure that the property meets building regulations.
Conducting periodic inspections of the property
The property manager will also conduct periodic inspections of the property to make sure that everything is in good working order and that the tenants are taking good care of the property.
What’s next?
If you’re thinking about hiring a property management company, be sure to do your research to find a reputable and reliable company that will have your best interests at heart.
Hiring the right property management company is an important decision that can make your life as a homeowner a lot easier as you can rest assured your rental property is in good hands.
With the right company, you can relax and enjoy your property without having to worry about all of the details.
If you’re looking for a reliable and professional property management company in Glasgow, then look no further than Yates Hellier.
We offer all of the services listed above and more.
We ensure that all aspects of renting out a property are handled in a smooth and efficient manner.
While some homeowners might be hesitant to hand over the keys to their property to a third party, property management companies can actually save you a lot of time and money in the long run.
