Individual Flat Owners Use London Property Management Support

Whether you simply haven’t been able to sell your property or you have relocated but plan to move back at some point in the future, or you are looking to invest capital in London residential property you may find yourself managing a property and tenants. This will not come naturally to everyone and could prove to be a headache if you live far away. This is where London property management agents really come into their own. Not everyone is comfortable managing financial transactions with individuals or knows what course of action to take when the rent is not paid on time. Even if you aren’t fazed by such tasks, they can become time-consuming and troublesome if they get out of hand. Co-ordinating upkeep and repairs can be difficult to manage, particularly if a tenant calls you in the middle of the night having locked themselves out of the flat. Knowing you have someone on hand who can deal with these situations can be worth its weight in gold.

So what can you expect from London property management services? Offers may vary from one London property management agent to the next, but generally you should expect a rent collection service and support with credit control. Agents will also take responsibility for repairs. They are the first point of contact for your tenants to report problems, and they will organise and repairs required. Good agents will practise a certain amount of prevention rather than just cure and will carry out regular inspections of your property to ensure it is kept in a good state of repair.

By introducing your tenants to the property and issuing inventories, the agents can keep a close eye on what they would or would not consider to be a reasonable amount of natural wear and tear. Agents can source tenants for you, advertise the let when tenants move out and take care of the property if it lies vacant. Do also remember that rental deposits need to be registered with a deposit protection company by law. The best agents will ensure your tenants stay for the long term and look after your property as if it was their own. By doing this, they can save you a lot of money. If your flat is empty there may be an insurance company requirement to have it regularly inspected otherwise your cover may be void in the event of a claim.

Full time professional property management in London is essential for the individual property owner and is not just a requirement for those with large portfolios. If you feel you can benefit from having professionals looking after your property, your tenants and your best interests, then it is worth calling one of our advisors to see how we can help you.