Fully Managed Landlord Services|
There are a lot of services being offered for a Landlord looking into having their property being fully managed. After hearing about some terrifying stories from a few landlords, I wanted to offer some information which can prove useful in the near future to new, old Landlords alike.
With all services packages it is always helpful to know what is on offer, but it is also important to know which deal is offering you more for your money.
So the service Fully Managed should consist of having the property advertised to be open for viewings, depending on the estate agent you could obtain a marketing portfolio where your property would not only be advertised on the internet but also on flyers in magazines and news papers. This process has always proved to bring awareness to a particular property.
Most Landlords who have been around understand that it is very important to select your tenants carefully. A Fully Managed Service should offer advice on this matter, what would be the best method of referencing tenants you would like to have. A tenant you would be wise to avoid. Having a professional inventory prepared, also having images of the property taken at a high standard, not like someone has taken the images using their camera phone.
Having the full rent being collected should also be included within the Full Managed Service, so you the Landlord would be paid via BACS each month.
Having the property inspection also comes under the Fully Management service, which includes a full maintenance service. Now I would suggest having a serious look to see what the estate agent means by this, there could be many issues Full Maintenance could cover. A may not cover, for example having car insurance you may think you are covered. But now a day you may not be covered if the person who hits you is not insured.
Having the Administration finalised is also a perk of this service, but it is also important to know how the estate agents procedures work. For example you as the Landlord of a property are still legally responsible for how eviction notices have been served, what kind of legal advice and assistance would be offered. The notifying of the utilities of a beginning and ended tenancy, an last but not least the content & building insurance which is offered/advised by the estate agent.
As long as these issues have been addressed fully then you shouldn’t have any bad experiences. Let’s hope ;)
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