So, you’ve decided to become a landlord. Congratulations!
Renting out properties is a fantastic way to make money, invest in your family’s future, and create a long-term foundation of financial security.
However, for all the benefits, property management comes with its challenges. Deciding to rent out a property is a big decision. As a landlord, the responsibility will fall to you to find appropriate tenants and ensure your property is suitable for them, that the tenancy agreement is abided by, to collect rent, handle disputes, meet licensing requirements, manage maintenance and repairs, organise insurance… the list goes on. Each task requires consistent time and effort on a day-to-day basis.
If you think this sounds stressful, we don’t blame you. But don’t let the administration associated with becoming a landlord put you off.
It’s possible to hire a property manager to oversee your rental properties.
Why property management is essential
A property manager works to create a smooth and painless experience for the landlord. Property management services from an experienced property management team undoubtedly make life much, much easier for landlords and for their tenants.
Without having a property management system in place, landlords run the risk of not fulfilling their legal landlord duties. Whether this is failing to keep up with new property laws, not providing adequate repair services or simply not handling tenant requests to a high enough standard, there are a host of issues that can quickly arise when you are attempting to manage a property (or multiple properties) on your own.
The experience and dedication that a property management company, such as A&S, can bring to the table should not be overlooked. Even if you are a landlord that enjoys managing your property, it can still help to have a qualified property management partner to lean on to ensure you are doing everything by the book.
Property management may not be necessary for every landlord, but it is something worth considering if you find a lot of your time and effort going into the continual management of your properties.
What does a property manager do?
A property manager manages your rented spaces. They’ll handle everything from day-to-day maintenance to the administration and operation of a rental on behalf of the property owner. Essentially, they act as a middleman between you and the tenant. It’s a varied role, and a property manager can do all sorts of things for the owner depending on their requirements.
It’s the responsibility of your property manager to find suitable tenants for your space, as well as ensuring that both the landlord and tenant are complying with all rules and regulations. The property manager will conduct reference and background checks before accepting a tenant for your property.
A good property management company will adhere to the standards and objectives laid out by the property owner. The owner’s primary aim might be to make a profit. Or, it might be that they want to provide a top-quality living space in their community.
At A&S Properties, we’ll always work to your specifications, helping you achieve your property goal as seamlessly as possible.
Property management to-do list
If you are a landlord or looking to become a landlord, you will most likely no just how much paperwork, legalities and financial admin goes into it.
A property management service will take these items off your hands and add them to our on-going property management to-do list.
Typical things we have on our property management to-do list include:
- Performing estimates on your property and setting the rent
- Background, reference and credit checks (if needed) on prospective tenants
- Rent collection
- Acquiring and holding deposits
- Dealing with legal disputes
- Handling missed or late payments
- Handling repair and maintenance work
- Plus so much more!
To hand your never-ending to-do list over to a reliable property management service, contact A&S Properties today to see how we can help you.
Property management for rentals: How does property management work?
Interested in investing in a property management service for rental properties but unsure exactly how the system works? Let us break down our property management system so you have a clear idea of how A&S Properties will manage your property.
First of all, you’ll approach a trustworthy and recommended property management firm, like A&S Properties. We’ll conduct a valuation of your property to ensure you’re charging the correct rate for the property and location. From there, we get to work finding you the best tenants to occupy your space.
We handle it all, from the advertising of your property on all appropriate channels (including websites and social media) to the tenant selection procedures. You will, of course, be consulted throughout this process and your input is highly encouraged. Once we’ve selected the most suitable candidate, we orchestrate a thorough and exhaustive vetting process to confirm that the tenant is the right fit for us and you. This may include reference and credit checks.
After the tenant moves in, we’ll inspect the property on an ongoing basis to ensure it's being kept in top condition. We will report any maintenance, repairs or replacements. We’ll collect the rent for you every month, and you’ll receive it in your account on the same day.
Do I need a property manager in Scotland?
It is not absolutely necessary to hire a property manager in Scotland if you want to become a landlord, but it is recommended. Specifically, if you’re renting out a commercial property or multiple properties at once, a property manager can take a lot of the stress out of the process.
Managing properties can be a full-time job, so unless you have a lot of time and energy to dedicate to it, it’s always best to seek the assistance of professionals.
It’s also a significant advantage to have an experienced team behind you if you run into difficulties. Renting out properties can be a tricky business, and it’s not uncommon for problems to emerge with tenants. Having dealt with countless tenants, landlords and situations over the years, we come well equipped to deal with anything that might arise.
Property management solutions
As we’ve established, renting out a property that you own is a fruitful endeavour that can pay dividends in the long run. If done right, renting property can be a brilliant way of earning a passive income whilst you continue with your work, spend more time with family or relax.
However, if mismanaged, renting property can cause serious issues. Legal problems can arise if you do not fulfil your responsivities as a landlord, and you can end up spending a huge amount of time, effort and money managing your property. Many successful landlords work full time managing their properties, meaning they are unable to continue with their careers or spend that extra time with their loved ones.
By opting for a proven, reliable property management service you are giving yourself the gift of time. You will easily be able to continue with your day job, spend more time with your family and relax, knowing that your property is being managed effectively. What is more, you will still receive passive income each month without doing the work that property management requires.
A&S Property sees itself as the perfect property management solution for landlords in Scotland.
Property management agency Scotland: A&S Properties
At A&S Properties, we go the extra mile for you. We’re dedicated to finding the ideal tenants for your property at the best price, all the while maintaining your space to the high standard that both you and your tenants expect.
Whatever your aims and requirements, we’ll work to you your vision. With expert property managers working across Scotland, in areas such as Dundee, Perth and Glasgow, we know the market, we know renters and we know what it takes to make the lives of landlords much easier.
Simply get in touch today for an initial property consultation to take the stress and admin out of managing your property. A&S Property is confident that we’ll be able to help you.