Letting a property can be a frustrating experience, it can take time dealing with tenant leads, property viewings and applications, especially if you are a landlord with a full time career. Whilst property management can seem expensive, it does serve a number of benefits as well as being incredibly reassuring to know that the experts are there to manage your property.
No matter how experienced you are as a Landlord, the lettings market is ever-changing so there’s inevitably going to be new challenges to face. Our Award winning Leeds property management services will help you keep abreast of the latest challenges.
How do you choose between the many property management agents in Leeds? Well, we’ve put together this article - our ‘Top 20 tips for choosing a Property Management Company’ which may lend a helping hand on what to look out for when searching for a company to manage your property portfolio. This article will help you compare our property management services with those offered elsewhere.
1. Will the property management company offer a personal visit to your property to provide a property appraisal? Avoid property management companies that scan the market and provide a valuation based on others in the area. Every property in Leeds is unique and your property deserves a professional and tailored property appraisal. Let-Leeds provides a unique property appraisal.
2. Will your property management company carry out professional photography? Your property deserves to be marketed in the best possible way. Let-Leeds provides professional photography; does your property management company provide the same level of professional marketing?
3. Does your property management company ensure the property conforms to letting regulations such as fire hazards, furniture regulations, electric and gas regulations and Energy Performance certificates. You’ll need to ensure that, as a landlord, you’re conforming to letting regulations, as you’re responsible should the worst happen. Let-Leeds provides advice on rental regulations at your property.
4. Has the property management company you’ve spoken to market their properties on ALL the major portals such as Rightmove, Prime Location, Find a Property, Globrix, Zoopla, Property Live and Live Lets? If not, then you’re missing out on some valuable Tenant streams. Let-Leeds markets your property on all the major portals.
5. Will your property management company provide details of your new instruction to their tenant database? We provide an e-newsletter to carefully matched house hunters across Leeds. Since we began registering Tenants on our system 3 years ago, we have built a database of over 5,000 registered Tenants in Leeds. Let-Leeds use intelligent systems to capture tenant information. We are the first agent in the country to utilise Rightmove’s new property import portal. Does your property management company provide intelligent marketing systems?
6. Does your property management company carry out accompanied property viewings? Be very careful if it doesn’t! This improves the chances of renting the property as well as reducing the chances of crime. Let-Leeds provides accompanied viewings on all of our properties.
7. Does your Leeds property management company obtain comprehensive reference checks when processing the Tenant application for your property? Do they carry out Credit Checks, Bank Checks, Fraud checks, employment checks and previous landlord references? Let-Leeds provides comprehensive tenant and guarantor checks; does your property management company provide the same level of referencing?
8. When using a Guarantor, does your property management company ensure that the guarantor is worthy of actually being a guarantor. (ie) Has the Guarantor been credit checked, has evidence been submitted to show that the guarantor is a home-owner?
Let-Leeds provides guarantor checks and asks for proof of home ownership from each guarantor.
9. Does your property management company process the Deposit and secure it within the Deposit Protection Service? The rules governing tenant’s deposits have been tightened further just recently, so not protecting a tenants deposit is extremely daft! Let-Leeds secures all deposits with the DPS.
10. Will the property management company provide property check-in reports or property inventory services? Providing an Inventory is an important aid when managing tenants who have caused damage to the property. Managing a deposit dispute at the end of the Tenancy could be impossible if no inventory has been provided. Let-Leeds provides a property check-in report as standard or a full photographic inventory for £75 (+VAT).
11. Assisted Tenant Check-ins help make the Tenant feel special, on the move-in we can show the Tenant where the consumer unit is, where the stop tap is, how to control their heating and their radiators, which keys operate what doors and windows and how to work their appliances etc. Some property management companies are a little lazy, simply handing over keys to their tenants from their office and leaving the Tenants to work this out for themselves. This could potentially lead to damage to appliances because they are not being used properly or Tenants not knowing what to do in emergency situations such as the consumer unit switching off or a burst pipe. Let-Leeds provides an assisted move-in for our 90% of our Tenants.
12. Does your property management company transfer the gas, electric, water and council tax into the Tenants name? Or, do they take a chance – assuming the Tenants will do this and hope the Landlord doesn’t receive a hefty bill at the end of the Tenancy? Let-Leeds automated system uploads tenant details to Utility providers.
13. Does your property management company visit the property to inspect the property during the Tenancy Term? Inspecting the property periodically and reporting any problems is vital to ensure Tenants behave in a ‘tenant-like-manner’ and that maintenance issues are kept to a minimum. Let-Leeds provides property inspections at least once in every Tenancy term.
14. Are you fed up with waiting for the rent to come through? Does your property management company wait until the end of the month to send you a payment and your rental statement? Let-Leeds provides a monthly rental statement within 7 days of rental payment.
15. Does your property management company carry out necessary repair work without referring back to you if there are any significant additional costs? Some property management companies give the go ahead on repair work without getting any competitive quotes before starting the work. Let-Leeds provide full quotations on works costing £200 or more.
16. Does your property management company work with the best property management software? Let-Leeds utilises the market leading property management software to ensure your property is professionally managed.
17. Can your property management company provide Rental Guarantee Insurance? In these uncertain times, have you thought about what your Tenants would do if they lost their job? We can provide Rent Guarantee Insurance which can cover the loss of rental arrears as well as the cost of removing the Tenants from the property. Let-Leeds provides Rent Guarantee as Standard on all of our Premium Management Properties.
18. ARLA, or the Association of Residential Letting Agents, ensures that agents comply with a strict code of conduct. The best property management agents are ARLA accredited as they strive to meet high levels of service and professional standards. Let-Leeds is an ARLA accredited letting agent.
19. Is your property management company a SAFE Agent? Does the property management company offer full client money protection? If not, beware. Many letting agents have liquidated leaving the landlord to pick up the bills and return tenant deposits. Let-Leeds operates the SAFE Agent scheme as well as having full client money protection insurance.
20. Is your agent passionate about what they do? Let-Leeds is passionate about property and property management. We take a proactive, enthusiastic and passionate approach to our properties, tenants and landlords.
We are a Property management company in Leeds, managing property portfolios from 1 to 50 properties, and have invested over 10 years of property management experience, as well as recently winning the silver award for best Letting Agent Northern region.
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