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Updated by Western Lettings on May 01, 2018
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Why Landlords Need a Property Management Company

Being a landlord can sometimes be a lot of hard work! It can be tricky finding the right tenants in the first place and then there can be the hassle of a having to deal with a last minute call about a broken boiler or cooker etc. Here are some reasons why employing a property management company to take on these tasks can be the perfect solution.

1

Better Screening of Tenants

Better Screening of Tenants

Finding good tenants can be difficult. Good letting agents will always take screening of potential tenants very seriously. They will carry out credit checks and evaluate references to help increase the chances of finding good tenants who can pay their rent on time and keep your property in tip top condition.

2

Increased Rental Income

Increased Rental Income

Letting agents keep a close eye on property demands in your area. They will know how to market your property so that it achieves the best rent possible for its price range. They can also suggest easy fixes to your property that can increase this income.

3

Better Tenancy Agreement

Better Tenancy Agreement

A tenancy agreement is a contract between you and your tenants. It helps protect your property and should set out clearly your obligations and that of your tenants. A property management company can help you draw up an appropriate tenancy agreement and ensure that new tenants will not be allowed the keys to your property until they have signed this document.

4

Ensure Legal Requirements Apply

Ensure Legal Requirements Apply

In Scotland, there are a number of safety regulations that need to be met before a property can be rented out e.g. electrical and gas safety inspections, a Legionella risk assessment and the correct number of carbon monoxide and smoke/heat detectors installed in the property. A property management company will be up to date on all the current safety regulations and can arrange the necessary inspections as well as any remedial work that needs to be carried out.

5

Better Maintenance of Your Property

Better Maintenance of Your Property

Household items break and sometimes quick action is needed in order to fix the problem. If you are working, on holiday etc it can sometimes be very difficult finding the right person to help. A good property management company will have access to a network of fully qualified tradesmen who they can get in touch with to quickly fix the problem. They will also usually be responsible for liaising with the tenants to agree a suitable time for the work to be carried out, saving you a lot of time and hassle.

6

Ensure Rent is Paid On Time

Ensure Rent is Paid On Time

Ensuring that the full rent is collected every month is a major concern for most property owners. A good letting agent can be helpful in a situation where you have a late paying tenant or one who is withholding rent. They will have tried and tested tactics to resolve the situation peacefully without it escalating further. If no solution can be found they will be able to begin legal proceedings to evict the non paying tenant.

7

Not Having to Deal With Tenants Face to Face

Not Having to Deal With Tenants Face to Face

Being a landlord can be stressful. Employing a property manager as a buffer between you and your tenants can take away a lot of the stress. They will be the ones who have to deal with uncomfortable or confrontational conversations about late rent, eviction notices or damage to your property.