Some people who rent their property choose to look after it and their tenants on their own. But others would much rather leave it up to a property management expert. It might cost them more money, but it will also get them peace of mind and more time to do other things. If you own a property that you want to rent, you need to make the same choice. If you decide that you want a property management company to take care of everything for you, you need to find the right one. They should be good value and reliable to care for both you and your tenants. Use this guide to help you find the best company to use.
Start with Your Lettings or Estate Agent
The first place to begin is with your estate or lettings agent. The people who helped you buy or let out your property are sure to have recommendations. They will either give you the names of companies they use or have their own management services. For example, Abbotts.co.uk lettings agents are part of a group that also provides property management. You can also talk to other people in the industry, such as other landlords. But remember to take opinions with a pinch of salt, as they could be biased.
If talking to estate agents or property owners isn’t useful, try searching for property management companies online. You can find ones in your area easily with a simple search using your favorite search engine. There are also specialist databases you can use to help you find the right service. The internet will also help you check out a company before you approach them. You can check review sites and other websites to see what previous clients have thought of the service they received. It can be an excellent way to weed out the companies you shouldn’t go near.
As well as looking at review sites, there are other ways of researching a property management company. You can find out who their current and past customers are to get an idea of how well they operate. You could even try to talk to the tenants of properties they manage, as well as the owners, to find out how well-maintained they are. Find out if repairs are carried out quickly and complaints are addressed sensitively.
Talk to Several Prospects
Don’t jump into hiring the first company that seems acceptable. You should make a shortlist of several options and make appointments to speak to them. As you chat, ask questions about the contact you’ll have with them and the report they will give you each month. As well as getting vital information about the services they provide, don’t be afraid to use your gut. If you have an off feeling about someone, it’s better to go with it than to ignore it and have regrets later on.
It’s essential to take your time and make sure you pick the right property management company. You’re giving them an important responsibility, so choose carefully.