Property Management Edinburgh: Here’s some reasons why it might make more sense, financially and emotionally, to employ a property management company in Edinburgh.
Changing Legislation can be a minefield – Legislation surrounding lettings is being tightened up throughout the UK with Scotland leading the charge on areas around property safety, landlord responsibilities and tenant rights. The goalposts of what is expected of a landlord seem to be moving several times each year and it’s hard for landlords to keep tabs on what they’re supposed to do. A property management company in Edinburgh will keep on top of things for you.
Maximising rents – a property management company in Edinburgh will know the market inside out. Rents can differ from one street to the next and between two slightly different apartments within the same block. A property management company will have the experience to know these unique differences and so will know the maximum rent that can be achieved. A property management company should advertise on all the main lettings portals online and will have access to tenants to ensure a tenant is found at the right rent, quickly. Often when we are instructed by a landlord moving across to us having self-managed their property we ‘pay for ourselves’ as the rent we achieve can be £100+ more each month than the landlord was achieving themselves.
Maintaining your property – a property management company will have a strong list of maintenance contractors (and often their own in-house team) to deal with any maintenance issues promptly to keep tenants happy and to stop issues escalating. An experienced property management company will have negotiated the best deals with contractors so that you benefit from a better rate than if you had gone to the contractor as a ‘punter’. If a tap is leaking it’s best to tackle it as soon as possible before any knock-on issues arise. A property management company in Edinburgh will also inspect the property regularly to highlight any issues that should be proactively taken care of before problems worsen. Tenants cannot always be relied upon to flag up issues! A property management company will be able to respond quickly to urgent maintenance issues so you don’t have to. So when a leak occurs at 7pm on a Friday night when you’re out for dinner, you’ll be none-the-wiser as your property management company will be working away to resolve the situation while you can continue to enjoy yourself!
Property management fees in Edinburgh tend to be between 9% and 12.5% of the monthly rent (+VAT). It’s not always best to just go with the cheapest deal as its essential your property management company has the experience and credibility to provide a good service. Look for an ARLA Propertymark regulated agent and check out the agent’s online reviews on google and sites like Allagents as this is where you will see what customers really think of them!
While, on first glance, it appears that managing your property investment yourself is a straightforward process, it can be a minefield for go-it-alone landlords. A property management company in Edinburgh will be able to keep you on the right side of the law, maximise your rent, keep an eye on tenants and be on hand to deal with any maintenance issues at any time so that you can sit back and relax and watch your asset grow. Umega lettings is leading the way in the Edinburgh property management sector with market-leading customer service scores on Allagents and Google. We’re completely transparent, we are at the forefront of property management innovation and we’re a breath of fresh air doing everything we can to impress our landlords and tenants with the quality of our service.
If you’re a landlord with a property to let out, please contact us today for a no-obligation rental valuation and to discuss how we can help you maximise your property investment.