Without expert knowledge, property management
Some landlords choose to manage their properties themselves but without expert knowledge, property management tools and property management experience, it can be a dangerous step not to instruct a letting agent. A good property management service will ensure that credit checks and references are carried out and that all the correct paperwork is set up and that the terms of the tenancy are communicated well with tenant. A Property management service will then deal with all ongoing maintenance jobs, ensuring that communication flows well between landlords, tenants and tradesmen. Property management service will also keep on top of rent arrears, flagging up if rent does not reach the property management account on the rent due date and chasing the rent until it is paid (or a recommendation from the property management service to serve Notice to Quit or pass to solicitors to evict tenants). A property management service will then deal with all end-of-tenancy paperwork and carry out an inventory before passing back to the letting department to start the ball rolling again.