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Common Misconceptions About Property Management

Common Misconceptions About Property Management

It is becoming increasingly common for people to invest in property and many who do so will purchase ‘buy to let’ properties. However, there is no denying that being a landlord isn’t necessarily as easy as people assume it will be. Depending on the number of properties in your portfolio, managing these really can be a full-time job and not one that everyone is able to handle independently. 

 

Thankfully, nowadays, property investors have the opportunity to work alongside a professional property management company and they can make being a landlord much easier. When looking into managing agents, many worry about handing their property portfolio over to someone else and unfortunately, the many misconceptions surrounding property management can put them off doing so. To set the record straight for any struggling landlords, below we have debunked some of the most common myths that have given property management a bad reputation. 

 

“Property Managers don’t Actually Care About your Properties”

 

Understandably, trusting someone with your investments can be daunting, but you can have complete peace of mind knowing that your property portfolio is in safe hands when you turn to experienced property management companies. They will care about your property’s rental success just as much as you do and they will do all they can to please you as their client. 

 

“Property Management Companies are Incredibly Expensive”

 

This is undeniably the biggest misconception surrounding property management companies. Whilst you will have to pay for their services, they aren’t as expensive as you may assume and you can guarantee that they will be cost-effective. Due to the work that a property manager does, many landlords even find that their net income increases, so it’s a worthwhile expense.

 

“Property Managers won’t be as Careful and Thorough as a Landlord Would be”

 

Many worry that property management companies won’t be as thorough as they would be themselves, whether this is when screening potential tenants or maintaining the property, but this isn’t something you need to worry about. You have to remember that they are professionals and it is their job to provide exceptional services to you, so this is exactly what they will do. You won’t be disappointed with the different jobs they undertake for you. 

 

“Property Management Companies will just Complicate Things”

 

Lots of landlords think of a property manager as a ‘middle-man’ and they assume that they will complicate things, but the truth is that they will do the opposite. Professional management companies make things easier for property investors and they will simplify your role as a landlord. You can trust that having managed properties will do nothing but make your life easier. 

 

“Property Managers only Ever do the Bare Minimum”

 

Whilst this may be the case for some property management companies, it certainly isn’t for others. It is important to remember that there are a number of different management services available too, so you can decide just how much help you need from a property manager. When turning to a reliable company for comprehensive services, you really can trust that they will always go above and beyond to help you with your rental property portfolio. 

 

“You will be Handing over Complete Control of your Property Portfolio” 

 

Lots of people assume that as soon as you start working with a property manager, they will take over and you will no longer have any control over your property portfolio, but this isn’t the case. They will actually collaborate with you and they are there to help simplify the more complex tasks associated with being a landlord. So, think of them as a supportive helping hand. 

 

Looking for a Property Management Company in London?

 

Ultimately, whilst there may be a number of misconceptions surrounding property management, it is fair to say that in reality, it is incredibly beneficial to use property management companies. As a landlord, whether you own 5 properties or 15, you really can guarantee that the different property management services available to you can make day to day life so much easier. If you’re looking for a property management company in London, be sure to visit the Building Vision London website. 

 

Our expert team of qualified property managers have the experience, capabilities and local knowledge to be able to manage your rented property and we pride ourselves on always delivering a friendly, yet professional service for both our landlords and their tenants. At Building Vision London we don’t just specialise in property management, but we are actively involved in all aspects of property maintenance too and we will gladly assist you further. Should you have any questions at all, feel free to contact us today. 

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