Property management companies provide comprehensive property management services for landlords, handling day-to-day management, maintenance, tenant relations, and compliance on behalf of property owners.
What is Property Management?
Property management includes:
- Tenant Management: Finding and managing tenants
- Rent Collection: Collecting rent and managing payments
- Maintenance: Organising repairs and maintenance
- Compliance: Ensuring legal compliance
- Financial Management: Managing property finances
- Reporting: Regular reports to landlords
Services Provided
Tenant Management
- Tenant finding and selection
- Tenant referencing
- Tenancy agreements
- Tenant relations
- Tenant issues and disputes
Property Maintenance
- Regular property inspections
- Organising repairs and maintenance
- Emergency repairs
- Maintenance contractors
- Property improvements
Financial Management
- Rent collection
- Financial reporting
- Expense management
- Tax documentation
- Account management
Compliance
- Legal compliance
- Safety checks (gas, electrical, etc.)
- Licensing requirements
- Deposit protection
- Right to rent checks
Benefits of Property Management
For Landlords
- Time Saving: Don't have to manage properties yourself
- Expertise: Professional knowledge and experience
- Compliance: Ensure legal compliance
- Peace of Mind: Properties managed professionally
- Better Returns: Professional management can improve returns
For Tenants
- Professional Service: Professional management
- Responsive: Quick response to issues
- Maintenance: Well-maintained properties
- Communication: Clear communication channels
- Compliance: Properties meet legal standards
Finding a Property Management Company
What to Look For
- Experience: How long have they been operating?
- Reputation: What do clients say?
- Services: What services do they provide?
- Fees: What are the fees and charges?
- Registration: Are they registered and regulated?
- Coverage: Do they cover your area?
Questions to Ask
- What services are included?
- What are the fees?
- How do you handle maintenance?
- What is your response time?
- How do you communicate with landlords?
- Are you registered and regulated?
Costs
Management Fees
- Usually a percentage of rent (8-15%)
- Or fixed monthly fee
- May include or exclude certain services
- Check what's included
Additional Costs
- Tenant finding fees
- Maintenance markups
- Renewal fees
- Exit fees
- Check all costs upfront
Your Rights
Landlord Rights
- Right to choose your manager
- Right to transparent fees
- Right to regular reports
- Right to be consulted on major decisions
- Right to complain
Tenant Rights
- Right to professional service
- Right to responsive maintenance
- Right to clear communication
- Right to complain
- Right to see your tenancy agreement
Regulation
Client Money Protection
- Property managers must have client money protection
- Protects landlord and tenant money
- Required by law
- Check registration
Redress Schemes
- Must belong to a redress scheme
- Allows complaints to be investigated
- Provides dispute resolution
- Required by law
Browse Property Management Providers
Find property management companies in your area. These professionals can manage your properties, handle tenants, and ensure compliance.
Image Gallery
External Resources
Government Resources
Service Directories
Frequently Asked Questions
What is property management?
Property management is the professional management of rental properties on behalf of landlords. It includes tenant management, rent collection, maintenance, compliance, and financial management.
What services do property management companies provide?
Property management companies provide tenant finding and management, rent collection, maintenance coordination, legal compliance, financial reporting, and day-to-day property management.
How much do property managers charge?
Property management fees are usually 8-15% of monthly rent, or a fixed monthly fee. Fees vary by company and services included. Check what's included and what additional costs apply.
Do I need a property manager?
Property managers are useful if you don't have time to manage properties yourself, want professional expertise, need help with compliance, or have multiple properties. It's a personal choice based on your circumstances.
What should I look for in a property management company?
Look for experience, good reputation, comprehensive services, transparent fees, registration and regulation, good communication, and coverage of your area. Get recommendations and compare companies.
Are property managers regulated?
Property managers must have client money protection and belong to a redress scheme. They must also comply with various regulations including deposit protection and fee transparency.
What is the difference between a letting agent and a property manager?
Letting agents typically focus on finding tenants and setting up tenancies, while property managers provide ongoing management including maintenance, rent collection, and tenant relations.
Can I manage my own properties?
Yes, you can manage your own properties if you have the time, knowledge, and willingness to handle tenant relations, maintenance, compliance, and other management tasks.
What happens if I'm not happy with my property manager?
You can raise concerns with the property manager, complain to their redress scheme, or terminate the management agreement (check terms). All property managers must belong to a redress scheme.
Do property managers handle maintenance?
Yes, property managers typically organise repairs and maintenance, coordinate with contractors, handle emergency repairs, and ensure properties are well-maintained.