Why own?
“Renting provides a regular guaranteed rental income and benefits from any increase in property any increase in property value”
The essentials:
The National Landlords Association (NAL) landlords.org.UK and the Residential Landlords Association (RLA) rla.org.UK are good sources for information.
Property Benefits:
Invest in unions,
property funds
Commercial property
buying selling
Guaranteed Income:
A property manager leases the property owner for a large amount of time, usually several months or even years. Through the transaction, the purchaser provides the owner of the property with a guaranteed amount during the term of the contract.
-Wikipedia
Property managers:
Through a wholesale contract, a property manager/management company can purchase new inventory to manage at retail, increasing revenue. When purchased at the right price, such contracts can also increase profit margins. -Wikipedia
Risks:
If the property does not rent as well as anticipated on the retail market, the manager is still obligated to pay the property owner the agreed amount.
Property Management Companies:
As a landlord, you won’t expect constant tenant visits, void periods between tenants, merchants organizing to maintain the property, and worrying about getting your rent paid on time. That is where property management companies will help you. They typically lease the property for up to five years and take care of all the maintenance as well. They offer guaranteed rent for the entire term, direct to your account so you can spend your time on what you really want to do. They do all the work for you for a hassle free rental.
property maintenance
They check tenants with their inventory at the beginning of the term. Tradesmen are organized when necessary for regular and ad-hoc maintenance.
They contact the landlord to get approval for any repairs over a preset amount, and each time they charge a repair/maintenance fee, the landlord receives a copy of the receipt for account records.
Personal touch
Only the best tenants are chosen and the properties are regularly inspected and a close relationship with the tenants is maintained to ensure the property is cared for with care. A team of dealers and maintenance engineers will attend to any problem 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 that a property management agency would give your property such ‘personal’ attention.
