“Letting provides a regular guaranteed rental income and benefit from any rise in property any rise in property value”
The Essentials:
National Association of Landlords (NAL) landlords.org.UK & Residential Landlords Association (RLA) rla.org.UK are good source for researching information.
Profits from Property:
Investing in syndicates,
Property Funds
Trading Property
Buying & Selling
Guaranteed Rent:
A property manager, rents from the owner of the property a large block of time, typically several months or even years. Through the transaction the acquirer provides the owner of the property with a guaranteed sum over the term of the contract.
– Wikipedia
Property Managers:
Through a wholesale contract a property manager/management firm is able to acquire new inventory to manage on a retail basis, increasing revenues. When acquired at the right price, such contracts can also increase profit margins. – Wikipedia
Risks:
If the property does not rent as well as predicted in the retail market, the manager still is obligated to pay the property owner the agreed upon sum.
Property Management Companies:
As a Landlord, you will not be looking forward to the constant tenant viewings, void periods in between tenants, organising tradesmen to maintain the property and worrying about rent being paid on time. That’s where property management companies will help you out. They usually lease the property for up to five years & also deal with all the maintenance. They offer guaranteed rent for the whole of the term, straight to your account so you can spend your time doing what you really want to do. They do all the work for you for a hassle-free let.
Property Maintenance
They check in the tenants with their inventory at the beginning of the term. They organise tradesmen when necessary for both regular and ad-hoc maintenance.
They contact landlord for clearance with any repairs above the pre-set amount, and anytime they take a repair/maintenance charge the landlord receives a copy of the receipt for account records.
Personal Touch
Only the best tenants are chosen and properties are regularly inspected and a close relationship is maintained with tenants to ensure that the property is looked after carefully. A team of tradesmen and maintenance engineers will attend to any issues quickly and efficiently. There are no fees or commissions to pay and no hidden charges. The offer will be clear and transparent. It is unlikely any property managing agency giving your property such ‘personal’ attention.