SUPPORTING THE ‘SMALLER’ LANDLORD

According to recent research by Savills’, 45% of landlords hold just one property, and a further 37% hold between two and four properties, highlighting the fact that the vast majority of UK landlords are smaller concerns.

This research also highlights how the ‘smaller’ landlord is increasingly offloading their properties whilst those with larger portfolios are investing, representing a shift in trend. It seems that the new regulatory changes including the Renters Rights Bill (that comes into force early next year), and tax related pressures are key factors in these decisions, along with the day to day challenges faced by any landlord.

Smith and Sons work with a broad range of landlords, from single home owners to those with large portfolios. Whilst many ‘smaller’ landlords may believe that working with a property company isn’t cost effective, we are finding our clients are experiencing quite the opposite and are benefiting from the following:   

• Finding the right tenant

A property management company will match the right tenant to the right property, also ensuring that they carry out all background checks and due diligence

Effective communication between tenants and landlord can also support more sustainable relationships, creating longer tenancies and less potential of an unoccupied property

• Day to day contact

One of the biggest deterrents in becoming a landlord and property manager is the open contact between landlord and tenants. A property management company will take on this responsibility and handle any day to days issues as well as acting as a point of liaison between the two parties

• Compliance and regulators awareness

A property management company will make sure that you are fully complaint with all regulatory matters including gas checks, electrical testing, EPC’s etc. They will also ensure that you are updated on any legislative changes such as the Renters Rights Bills and share any updates, supporting you in implementing those changes 

• Financial support

Collecting rent and following up any arears will become the responsibility of a property management company, as well as wider cost control if required

A property management company’s expertise can support you in realising the strongest rental returns, and can suggest  ways in which to maximise your rental yield

• Maintenance and upkeep

Working with trusted contractors, a property management company can manage and support the delivery of any repairs, improvements or modifications

Any landlord will clearly benefit from working with a property management, regardless of the size of their portfolio, saving considerable time, experiencing fewer headaches and welcoming sound advice that can often lead to cost savings. In an increasingly complex rental market, the support of a professional company is undoubtedly a sensible decision.

Contact res@smithandsons.net for more info