London Property Management: 5 Ways to Simplify Landlord’s Life

london property management

London property management  can become a very hectic task even if you have gotten the best property management company in London.

There can be a number of issues nagging you every now and then and making you feel like having a property is consuming a little too much of your time.

The best way to handle this is to be a proactive property owner. Yes, in order to make things simpler and less hectic, you must follow the tips below. They will surely ease your life.

Select the Right London Property Management Company

The very first measure to ease your life is to choose the right property management company. If the one that you have chosen currently is lax or incompetent, you are bound to get a set of worries that you do not deserve.

Have an In-depth Discussion with your Property Manager

Not every person has the same plan for the property he/she owns.

Some look forward to rent it out for a long period, some want to let it remain empty while others might want it rented for a few months and then shift into it themselves.

The sort of construction or maintenance work or the type of tenants that your property manager will select for you depends on how much he knows about your plans. So communicate well, so that the best decisions can be made.

Keep it in Black and White

No matter how small or big a certain transaction is, get it done through checks, pay orders or any other form but not cash so that there is a proof of the transaction.

And get transactions and agreements documented. Lack of documentation of even the smallest issues can lead to a lot of problems in the future.

Keep a Check

Hiring a London property management company to take care of your house does not mean that you are completely liberated from the responsibility of taking care of your property.

No matter what, keep a check on your tenants and of course your house too.

You can do so by randomly driving by the building at different points in time and different days of the week. Also, try to gain a good rapport with your tenants and drop by at their place once in a couple of months.

This will help you get wind of things that you were not meant to know as the owner of the house.

Prevent, not Cure

When making the document containing the deal between you and your tenant, include a clause that allows you or a contractor to make monthly examination of the building.

This will help you detect any problems with the house such as with the plumbing, the utility meters or even flooring earlier and will allow you to take preventive measures and stop the problem from growing bigger and more resource-consuming.

Sometimes it does become a hectic task to maintain property in London but the tips above will surely help you simplify your life as a property owner.

QUESTION: Did you ever face the surprises when you visited your rented property after some time? You can leave the comments below to help other landlords.

 

Photo credit: katie@!

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About Rana

Rana is an experienced property manager and the editor of Contract Properties blog. Google+