5 Reasons to Use a Residential Property Management Company
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Leaving a property vacated or unattended can be a big worry for property owners and there are a number of risks associated with doing so.
If your property is left unattended or vacant you will undoubtedly worry from time to time about how the property is. Our minds tend to flick immediately to worst case scenarios and it isn’t uncommon for property owners to be concerned about break ins or the property falling into disrepair.
Even small problems can cause big financial burdens for property owners. Here is our guide to why you should consider using a residential property management company if your property is left vacant or unattended.
Let’s get stuck in.
Who is Residential Property Management For?
The first question you’re likely to ask yourself is whether you need residential property management or not?
First and foremost, the services of a property management company are designed to help property owners who leave their property vacant or unattended for an extended period of time. This time frame can differ depending on your circumstances, and it would probably not be necessary to employ a property management company to watch your house for the few weeks that you’re on a family vacation.
A good general rule is that if you’re leaving the property vacant for a month or more, you might want to consider using a property management service.
A residential property management service is available to:
- Homeowners.
- Landlords.
- Developers.
- Property investors.
To summarise, if you fall into the categories listed above and you’re leaving the property unattended for an extended period of time, it is worth using our FREE consultation service to get an idea of whether property management is right for you.
Benefits of Residential Property Management
You will probably be surprised by the scope of benefits available when using a property management company. Here are our top 5.
Peace of Mind
The most immediate thing that you will notice after hiring a property management firm is that your mind will be at ease. You won’t be worrying about the condition of the property or having to go and check it yourself.
You will also be able to relax in the knowledge that if anything goes wrong with your property or it needs repairs, the residential property management company will rectify it. Our service is so in depth that we even offer comprehensive daily checks and activities to monitor your property.
For those living overseas, the stress of having an empty property in another country can be extremely high, at Sana we alleviate those worries entirely.
Insurance Premiums
Believe it or not, if your property is vacant for a certain period of time in the UK, your insurance company will void your buildings and contents insurance in the event of a claim. Different insurers operate different rules with regards to property vacancy, but all buildings and contents insurance has an unoccupied property clause.
That means that if you’re intending to leave a property vacant, you will need to buy a special policy known as a vacant property insurance policy.
As you can imagine, the price difference between a standard home insurance policy and a vacant property insurance policy is large. But, by using a property management company you can declare this to your insurer and reduce your insurance premiums.
It is fair to say that you won’t pay the same as a standard home insurance policy, but our clients are able to get their premiums closer to a standard home insurance policy by using our services.
Health and Safety Compliance
Depending on your situation and the reasons for using a residential property management company, you will have different needs regarding health and safety compliance.
For example, developers and landlords have strict regulations they need to abide by including keeping Gas Certificates, EICRs and Environmental Performance Certificates.
At Sana we make sure that all documentation and certification is obtained and then we keep them up to date for you.
We also carry out regular safety checks for all clients – dealing with gas and water leaks as well as ensuring that the property is secure. We only use qualified and reputable tradesman to conduct repairs – ensuring that when you return to your property it is the same condition you left it in.
Securing the Premises
In the UK squatting is a persistent problem in empty properties. Although not the highest risk factor for vacant properties, it can be the most difficult to deal with. Evicting squatters can be a lengthy and costly process and there have been instances of civil unrest at squatter evictions.
The Office of National Statistics doesn’t keep records on the amount of vacant properties, how many homeless people there are or how many properties are occupied by squatters. This makes it an unquantifiable risk – but a risk, nonetheless.
Break-ins and burglaries on the other hand are quantifiable and in the UK a burglary occurs every 108 seconds. The prevalence of burglaries in high-net worth areas and vacant properties is also higher as the rewards are greater for criminals and outweigh the risks associated with the crime.
At Sana we constantly monitor the properties under our management, keeping them secure and implementing security measures to prevent both squatting and crime occurring.
Consultancy and Inspections
We tailor our services to a client’s needs. A landlord might have tenants occupying the property and not want the hassle of dealing with the day-to-day obligations of being a landlord.
We provide tenant management services including dealing with rent increases, eviction notices and end of tenancy inspections.
We offer a range of consultancy services to all of our clients too, including legal cover, contractor selection and accounting relating to your property.
To find out how we can help you, contact Sana Residential Property Management for your FREE, no obligation consultancy today!
