How We’re Helping Property Managers
Date: 14/6/18 Category: Hinch Highlights
The role of a property manager can be diverse, can be demanding, however is always a key aspect of a smooth and hassle free lettings process. With our position in the lettings industry of working side by side with Property Managers from all aspects of the industry we understand that a Property Managers day to day organisation of multiple properties, landlords and tenants can be a very high pressured and sometimes challenging role to play in the industry.
With Property Managers managing and overseeing the majority of key stages during a tenancy it is not uncommon to find that they take on the following tasks for every property under their supervision:
- Organising and preparing Inventories, Check Ins and Check Outs
- Dealing with maintenance issues
- Liaising with contractors
- Arranging gas, water and electrical checks
- Ensuring the properties are safe and respected
- Keeping the Landlords updated with their investment
- Tenancy Agreements
- Negotiating Contracts/contract renewals
A Property Managers role is challenging and highly valued by tenants and landlords alike. This said unexpected “plot twists” can occur during the process of a tenancy period which can affect this relationship and possible future business relationships. After all, we are all aware that not all tenants are as respectful as others and not all landlords are not always able to pay as much attention to their property as they would like.
To minimise this Property Managers benefit highly from using reliable and specialist service providers to aid them in completing the wide range of tasks a property requires before, during and after the tenancy has ended.
A paramount process during a tenancy for a property manager is the Check Out when the tenancy comes to an end and the tenants are vacating the property. A full check out report completed by an independent inventory company will bring any issues or damages that have occurred during the tenancy to the Property managers attention.
If the property manager is using a traditional check out service, it will then be their responsibility to decide on the how much the damages amount to. This can be a straightforward task for a Property Manager, however, in some circumstances the list of damages to a property can be huge, the parties involved can be difficult and the types of damage can be odd. This will create greater pressures for the property manager to ensure that their damage costs are accurate, fair and clearly documented. Accuracy is paramount; if the Landlord does not receive the rightful amount from the tenants deposit to cover repairs, your client is now out of pocket and losing money. If a tenant, who are aware of their rights more and more every day, receives a figure that is too high they are likely to dispute and drag on the end of tenancy for all. And let’s be honest, often both tenant and landlord can be quite far away from a fair figure on opposite sides of the spectrum.
Check Outs can quickly become a nightmare for Property Managers, which is why we’ve asked ourselves, how can we help and benefit Property Managers during the check out process even further…
This led us to the Executive check out service. This service will not only place liability on the dilapidations that we find, however will also place a cost in line with arbitration guidelines.
The costing sheet will come over as a separate document, clearly laid out for easy use.
The service has been a success to several clients who have opted in over the last 18 months and many point to the below benefits for the reason behind continued use of the executive check out service:
- A Recommended cost is placed on all dilapidations listed as a tenant cost by an experienced professional in line with arbitration bodies such as the TDS and DPS
- An independent liability is more often accepted by all parties, than a liability coming from a tenant/landlord
- No effect on 48-hour Turnaround
- Full customer service team to assist after the costs have been placed who can respond to any queries on the costs placed and can speak directly with the tenant/landlord
- A professional, non-bias opinion which will evaluate liabilities fairly – benefit to Landlord AND tenant
- Save time during busier periods
To find out more about how our Executive Service could help your Property Management tasks, contact us on firstname.lastname@example.org or call us Direct on 0207 989 9128