There are a few simple steps you can take to find yourself a trustworthy and legitimate property management company – firstly, you’ll need to shop around and search directories for property managers in your area, e.g. “property management Manchester”.

Property management companies take the hassles out of renting a property and leave you to continue living your life. Managing a property is a time-consuming process and sometimes it’s easier to hire someone to do the work for you, to free up more time for yourself. Property managers are usually employed to find suitable tenants, advertise your property in the relevant places, conduct property viewings, gather references, credit checks and any other relevant paperwork from tenants. The property manager will also collect deposits and rent from tenants and then drop the money into your account, and provide you with statements. Make sure the money enters your account as soon as the rent is paid, some property management companies have been known to keep the money in their accounts for as long as possible to gain interest – hopefully you’ll have researched your property management company and won’t need to worry about such issues arising.

When choosing your property manager ensure they are local and know your type of property. It is vital they have the expertise in your type of property to ensure you get a good return. Read testimonials and ask previous clients if they would recommend their services. Arrange to speak to a few of your favourite choices; gaining a rapport with your property manager is important, the better they know you, the better the chances of them finding you the right tenants and knowing what you want from your property.

As well as sorting tenancy agreements, paperwork and accounts, it’s also the property manager’s job to manage the day-to-day running of your property to ensure it stays profitable. The property manager must ensure all safety checks are up-to-date so the property is safe to live in, all work must be maintained and the property must be checked periodically for any signs of damage of repair. Property managers will usually hold inspections when they see fit, these are a standard procedure that tenants are informed of in their tenancy agreements.

A good property manager should endeavour to keep tenants in your property – if the lease is up and tenants are moving out, they should be put all of their efforts into finding new tenants. If your house is empty you’ll be losing out on money.

It’s advisable to organise a plan with your property manager as the amount of work they do will depend on what you want from them. You can choose how much involvement you’d like them to have in your property; the more work they are assigned, the higher the fee. Your plan should include your goals, budget, tenant type and and return your are expecting. As long as your property manager is clear of your objectives, your property should bring in a good monthly income.

Ben Greenwood is writing on behalf of Shepherd Gilmour, estate agents in Manchester offering property for sale in Manchester.

Ben Greenwood is writing on behalf of Shepherd Gilmour (http://www.shepherdgilmour.com), estate agents in Manchester.

Author Bio: Ben Greenwood is writing on behalf of Shepherd Gilmour, estate agents in Manchester offering property for sale in Manchester.

Category: Real Estate
Keywords: property management, landlords, estate agents, letting agents