If you own a property and you don’t have time to deal with the day to day admin, you may want to think about hiring a property manager. This is because they will deal with most tasks, such as finding renters and taking rent payments.
However, it is worth noting that there are lots of property managers to choose from. This is because there is a huge demand for them, as the amount of renters in the UK is rising – in fact, some studies predict that a quarter of the homes in Britain will be rented by 2021.
This can make it harder to find a professional, hard-working property manager – but thankfully, we are here to help. Here are three tips to help you hire a good property manager.
Ask for recommendations
Start by asking other landlords you know for recommendations, as this means that it will be easier for you to find a great property manager. It can also be useful to read reviews online, as many landlords and renters leave reviews after working with property managers. Look out for property managers who are good at communication, especially if you live in a different city to the property they are managing.
Look at their qualifications
All property managers should have qualifications to confirm that they know what they are doing. They will need qualifications that allow them to manage and lease a property, and they will also need to be a licenced estate agent.
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Be clear about what you want
It is the property manager’s job to manage the rental process, so when you find someone that you want to hire, you should be very clear about what you want. If you only want to rent to students, you will need to make this clear – and you should also tell the property manager about what you expect them to do. For instance, if you expect them to pick up the rent each month, you should spell it out to the property manager that you want them to do this. This means that you will both be clear about what their role is and what they will be doing on a day to day basis.