What to expect when hiring a property management company in Manchester

Investing in Manchester is a great choice. The city’s rental market is thriving, and demand remains high. Investments can be made much easier with the help of industry professionals. In this blog, we’re looking at what to expect when hiring a property management company in Manchester. 

What is a property management company? 

A property management company acts as another person to support communication between tenants and landlords. Generally, the role of a property manager is to make life easier for the landlord. 

These companies may also be known as letting agents. They will keep an eye on market trends and laws so they can provide useful guidance to property owners in Manchester. 

It’s important to choose a property management company that offers the services you require to a high standard. A local lettings company can be a good choice, as they will know the market extremely well. Make sure you choose the right property management company for you. 

What do property managers do?

The exact list of elements a property manager will take care of varies from company to company. It’s crucial that you understand exactly what services each company offers, as you don’t want to be left having to complete jobs yourself. Here are some common elements that property managers may take care of, taking the pressure off property owners. 

Property marketing 

A great property management company will help you advertise your property online. They may advertise the property on their website and other sites, such as Rightmove.

As part of this service, the property managers should organise professional photos to be taken of the property. They should also write an engaging description that highlights the key features of the property. We complete effective property management marketing to help attract quality tenants. 

Finding the right tenants 

Searching for the right tenant can be tricky, but with the help of a property manager, you can reduce the risks associated with finding the wrong one. We have a database of pre-vetted tenants who are ready to move into properties in Manchester. We ensure that all tenant screenings have been completed and only suggest suitable tenants. Once we have advised you on the most suitable rental prices, we can show prospective tenants around the property. 

Organising viewings 

Many properties are tenanted before they even reach the market, highlighting the immense rental demand in Manchester. Great property managers can organise viewings and ensure that potential tenants have all of the information they need to make a decision.

Organising tenant documents 

Once the letting has been agreed, a tenancy agreement must be drawn up and signed. As your dedicated Manchester property management company, we can sign the agreement on your behalf. We will ensure that all regulations have been outlined in the agreement and that the tenant has their own copy of the documents. 

Moving tenants in 

When tenants move into a property, an inventory report should be completed. These help you to draw comparisons at the end of the tenancy period and assess any additional damage that may have taken place. Fair wear and tear should be expected. 

We take care of all check-in elements, from completing inventory reports to handing over the keys to the property. We show tenants how everything works and ensure they know how to contact our friendly team. 

Rent collection and inspections 

A great property manager will be responsible for all rent collections and adjustments. They will liaise professionally with tenants and ensure that rental payments reach your account on time. 

Property management services should also include handling property inspections to give you peace of mind throughout the tenancy period. We deal with all tenant communication, such as collecting tenant deposits. 

End of tenancy support 

When the tenancy ends, we will complete another inventory report and collect the keys. Then, we will help you find new tenants for your property. 

We can also support you with property investment advice, financial reporting, property management agreements, property improvements and more. 

Pros of using a reliable property management company 

Maintain your property 

Being a landlord can be time-consuming without a property management company. One thing that can take up a lot of time is property maintenance. With a property management company on hand, you can save time organising property maintenance visits and more. 

Regular property inspections allow property managers to identify issues quickly and organise rectifying them. In addition to general property upkeep, we can also help with emergency repairs.

Find great tenants 

We have a database of pre-vetted tenants who are waiting for properties to become available. These tenants have undergone rigorous screening to ensure they can meet payments and will respect the property. We complete the following as part of the tenant screening process.

• Credit checks
• Employment history checks 
• References 
• Potential evictions and criminal convictions

Additionally, this means that property owners can earn a consistent monthly rental income and we’ll always ensure you have quality tenants in the property. In contrast, some property managers may not have high tenant interest, leaving your property at risk of being empty for long periods of time. 

Managers know the local market 

A residential property management company will keep an eye on the local property market and help you with rental cost pricing, as they have a fantastic understanding of the local market. Researching the market can be a job in itself for busy landlords. 

Meet all regulations and legal compliance

There are many regulations that must be met for rental properties, including gas, fire and electricity. Regular inspections and checks are necessary to ensure that these regulations are met. We can liaise with engineers to organise visits at a suitable time for your tenants. 

Build your property portfolio 

We help landlords with Manchester investment properties. Whether you have one property or a whole portfolio, we can help you build and manage it. Our dedicated property managers can provide accurate updates about all of your properties. 

Better communication 

When tenants have issues in the home, property owners don’t need to deal with it. Instead, property managers will liaise with them to fix the issue at a time that suits them. All landlords will be required to do is give the approval on cost to fix the problem. 

Cons of hiring a property management company

Less contact regarding tenant management

Some landlords may enjoy having more involvement with tenants. However, if you address this with your property management company, they should be able to alter their practices to keep you involved. The idea of a property management company is that they deal with communications, so you can spend more time doing what you need to do and reducing stress. 

Property management costs 

Of course, with a property management company taking care of all of these aspects, there will be a cost to you. Most of the time, property management companies will charge a percentage of the monthly rent to cover these services. The costs for these property management services are definitely worth it for high-quality support from a company such as Parello. Read our blog on all you need to know about the landlord letting process.

How much does a rental property management company cost? 

The fees associated with property management vary depending on the services offered and the location of the company. It’s good to speak to a range of companies and assess the services they offer compared to the prices. Check out our blog on typical property management fees. 

As you can see from this blog, property management companies can help you with many aspects of your rental property. At Parello, we also have an in-house refurbishment team who can bring your property up to date with modern furniture and decor. We can take care of all property maintenance, legal compliance, rent collection and more.  

We hope this blog has been helpful regarding what to expect when hiring a property management company in Manchester. Are you looking for a committed team to manage your rental properties? Contact our expert team today who will be more than happy to help with residential property management.