Finding Good Tenants for your Property
As a landlord, one of your biggest challenges is inevitably going to be finding the right people to live in your property. It isn’t as easy as it sounds – tenants may not respect your property, or they might not pay their rent on time. If you do find yourself in a situation where your tenants aren’t paying and they refuse to do so, you may have to take them to court, so finding good tenants is always advisable.
It’s easier said than done, though. Make sure you help yourself by carrying out all relevant checks to make sure they can afford the property, and if they have a guarantor in place, that will be helpful as well. It is really important you carry out regular inspections to make sure they are looking after your property, and encourage them to tell you if anything is wrong. If there is, get it fixed straight away. Good tenants often come naturally when you are a good landlord.
What is the Role of a Property Management Company?
Property maintenance companies are the companies or organisation responsible for looking after a freehold property. This will usually be a block of flats or a house in multiple occupation, where there are lots of tenants living in one place. This creates a slightly complex situation in terms of who owns what – there is a landlord who owns the building itself, and who owns the land that the property sits on. They will not own the individual residences – these are usually owned by individual landlords, but on a leasehold basis. So it is clear that a landlord is responsible for their own property. Who is responsible for maintaining the freehold property?
The landlord who owns the building will ultimately be responsible for all maintenance. However, they will usually pass all responsibility over to a property maintenance company who can deal with all of this for them. This is beneficial for landlords because they can then go on to own multiple blocks of flats, earn income from them, but without having to take care of them. They entrust this to the maintenance company, so that they know their property will be in safe hands and can make them the maximum amount of profit.
The maintenance company will look after anything that may need doing to the building. Here are some scenarios in which the maintenance company will step in and take charge:
- The property has gardens that need looking after. Unless the gardens are private and belong to one specific tenant, the maintenance company will take care of the grounds. They will hire a gardener to look after all the land that the property sits on.
- The property has corridors that are heated. All heating provision will be taken care of by the maintenance company, and they will make sure the boilers are functioning properly and receive regular servicing. If the radiators need bleeding, this should fall to them too.
- The communal windows need cleaning. The maintenance providers should arrange for a window cleaner to come out regularly to maintain the windows and keep them clean.
- Some repair work needs carrying out to the building – perhaps some roof tiles need to be replaced, or there is some bricklaying that needs to be carried out. The maintenance provider should have contractors they work with regularly, who will be able to carry out the work. They should obtain a few different quotes so as to find the best price for the landlord.
- The communal hallways and areas need to be kept clean and tidy. It will be the residents’ responsibility not to leave personal items outside their flats that could obstruct the hallways. However, all cleaning should be carried out by an appointed cleaner.
How is this paid for?
Residents or landlords of flats should pay a service charge for living in the block. This will go towards all of the maintenance that the building requires. If more money is required for something big, then the landlords will be asked to provide more money.
Marketing a Property – What to do
Marketing a property to sell or to rent needs to cover some important points for the buyer or potential tenant. If you are looking at marketing a property, either to sell or rent privately or as part of an estate agency, here are some points that you should take note of:
- Write and speak persuasively. Make sure people know the benefits of the property. Have some facts and figures in mind, such as where the local schools are and how close the property is to bars and restaurants.
- Make sure it is up to scratch. Monitor the property to make sure you don’t notice any problems with damp or with insulation. This will put people off immediately.
- Give it a lick of paint. People will fall in love with a property and go with their heart when they can imagine themselves living in it. Let them see a blank canvass – use white or cream paint.
Building Management Companies – What do they Do?
Building management services cover all kinds of everyday activities that need to be taken care of in a building. The building management company will be responsible for keeping the building as a whole clean, safe and secure, making sure that all residents have a high level of facilities to use. More often than not, they will look after blocks of flats, meaning that they are responsible for areas like gardens, hallways and any other communal spaces.
These are some of the jobs carried out by a building management company:
- Roof repairs
- Mowing lawns
- Structural repairs to the entire building
- Recarpeting hallways
- Cleaning communal spaces
- Managing the heating and when it will come on in hallways
- Cleaning windows
- Replacing and repairing entrance doors and entry systems for tenants
There are many other jobs that will be required as well – this is just a rough list of some of the main ones.
Reasons Why You Should Hire The Services Of OBMS Ltd
There are many ways through which you can earn money. Some people normally choose to get employed while others opt to be self-employed. Did you know that you can actually make money by investing in real estate? There are many people who have invested in real estate and they are making a lot of money. However, it is important that you have property block management agents who can provide professional advice and guidance about residential and commercial multi-floor and multi-unit properties. Orchard Block Management Ltd is here to provide the best possible block management for you and your property needs. You will realise that OBMS Ltd normally caters for the management and maintenance of different categories of properties such as: factory conversions, purpose built apartment blocks, converted houses and so on.
Orchard Block Management Service Ltd has a website where you can actually make an online service charge and ground rent payments. You can also read testimonials from their many satisfied clients. You will realise that they normally value their customers. This is the reason why most of their customers are always satisfied with their services. You can also contact them through an e-mail if you have an issue with your residential block management. In addition, you can freely learn about your right to manage and the consultation process that they provide. Read More