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Who Do You Trust? There are a lot of property management companies which offer a number of services which can prove to be very helpful to a Landlord who is just starting out, or has been around for a number of years. The services being offered are The Tenant Finder Service, The Fully Managed Service, Rent Collection Service, Let Only and Marketing Only. These are only examples you may find being offered within your area, personally I would suggest to you to find a local Property Management company and to rent one of your properties for around 6 months. Due to the fact that there may not be a rental contract that only lies for 6 months, but the only reason why I suggest this is so the property management agent will understand that you are not looking for a long term contract with anyone you have no reason to trust. Let’s be honest when you go to buy a new car the sales reps try to impress you to buy a car, or a friend of mine would say they manipulate you to think one they are doing you a favour. Two “today is your lucky day!”
Three “Shouldn’t be doing this but you seem ok ;)”.
Lol, these actually remind me of the last time went into a phone shop.
So there is always a ploy but once you return to the store, have you ever noticed that you don’t get as warm a welcome as you did when they realise your an old customer? It is an ongoing issue with a lot of people I know, So my suggestion is to visit your most professional property managers and to rent or obtain Landlord Building Insurance for a small property with them. After a long period if there hasn’t been any serious mishaps, by all means involve the rest, but please remember they are offering you the service. You are the one paying them, I have been to too many BBQ’s, house warming’s and house parties with the down an out individual(s) who have complained about how their rented out property is more trouble than it actually is. But because they the landlord has signed the Landlord Rental Insurance contract, they are stuck for the rest of the year or even more. I would also suggest that being fully managed is the stress free way, even though you would end up paying the property manager more of your money but it takes away so much obligations which could always come back to bite. There are other services out there which you may feel are more to your liking, i.e. The Tenant Finder Service, where the property manager will find “trusted” tenants for your property. Now the charge is not very expensive but the repercussions could be terrifying, the insurance would vary because of the cheaper rate things will always be cut, shorted or left out. The most famous words would be “didn’t think we would need it, I’m so sorry” Now this wouldn’t really bother me if there was a small chance of having to pay out for a replacement window, but that’s not always the case. The tenant could have hurt themselves on the broken window want to blame you the landlord, a depending on the “basic” inventory you may have a large bill to payout. Or worst could be sentenced to prison, just because you wanted to save that extra £100 pounds or so. An that is why I will always suggest the Landlord Rent Guarantee option, less things that could go wrong. Good luck, a keep your eyes peeled
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