Property Management
You’ve done the hard work – chosen a property, bought it, and found a tenant. Surely, from now on, it’s plain sailing? Not quite...
Whether it’s tenanted or empty, the property remains yours – and you are responsible for managing property maintenance and dealing with any repairs. Sometimes your tenant will let you know something needs doing in an emergency – a blocked pipe, for example – sometimes it’s an ongoing matter, such as the three-yearly external paint job for your apartment block.
You can choose to appoint a property management agency to sort these matters out for you, but you’ll pay a fee. If you have the time, you can take on these tasks yourself – either by fixing problems yourself, or arranging for a qualified professional to do it.
There are pros and cons to each approach, of course. At Inside Track, we can show you the real cost of the options available to you and help you work out how you can maximise your profit. We will also help you decide whether taking on direct responsibility for property management is right for you.
This part of the Information Centre offers a comprehensive guide on managing your property, allowing maximum returns on your investment. Along with our buy-to-let 'jargon buster' you can log in to find guidance on: