Why should landlords use a property management company?

25/11/2021

An important decision to make by landlords is whether they choose to hire a property management company or not.

Hiring a property management company allows for a lot more assistance, by a team of experts, in the everyday running of the properties. This will relieve many time-consuming duties and open up far more time for landlords to focus on the important things.

At London Shared, we believe that we can add huge value to your investment through working with us. If you don’t take our word for it, below are several reasons to use a property management company like us.

1. Better tenants

Having a bad relationship with your tenants is draining for everyone involved. It is vital to try and get respectful tenants for your property. The best way to ensure this happens is to perform a thorough vetting process, however, this is both time-consuming and expensive. At London Shared, we are committed to finding you the best tenants available. Our vetting process is as follows:

  • Almost all of our residents are working professionals in their late 20s to mid 30s. We basically try and rent rooms to people who we would want to live with ourselves.
  • We encourage our tenants to get involved with viewings and we are happy to give you every opportunity to choose who you live with however we will need to approve of any potential tenant prior to moving in.
  • We try and keep an even mix of guys and girls wherever possible.
  • We do not have tenants from a specific country, our tenants are from all over the world (although majority are from the UK)
  • We need to be made aware of anyone extra staying as a guest for safety and insurance reasons (just shoot us an email). Please note we do not allow people to doss on the couch, camp in the yard or live under the stairs!
  • We do not accept couples. We have strict rules in place with the amount of people we can have within a property.

The buy-to-let market is forever being changed by new legislation and laws, which can be difficult for anyone to keep up with. However, not keeping up with these changes can result in huge fines and even losing the right to access some parts of your business. Property management companies are experts when it comes to legal changes and keeping your portfolio in check. At London Shared we place huge value in this part of our service, as we know how detrimental it can be to a landlord.

3. Shorter periods without tenants

It is not as easy as one would think to secure new tenants. Your property needs to be visible to the right target market, this is because once a potential tenant is chosen there are viewings, interviews, deposits and references to deal with. This can all be cut a lot shorter by appealing to the right kinds of tenants, for your property, from the start. Property management companies have extensive networks of potential tenants and this leads to much shorter periods without tenants.

4. Marketing

Marketing is an important part of the rental process. However, this is usually one of the last things on a landlord’s mind or budgeting list. Property management companies take away the stress of finding a reliable site to market on by doing it themselves, as well as contacting potential tenants directly.

5. More time for yourself

One of the most beneficial things about using a property management company is that you can trust them to deal with the tenants and you can enjoy the returns on your investment.

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    London Shared - Wandsworth

    Unit 6, 7 Eastfields Avenue

    London SW18 1RA

    T: 020 7610 9004

    E: [email protected]

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