How we manage property for you
There’s a lot of stress associated with owning and letting property, but we deal with it so that you don’t have to. It’s one of the main attractions of Property Partner. Plus, taking away the stress means that you can diversify into more properties without the hassle of extra tenants. But what exactly is involved – and how do we do it? You’ll soon see how many grey hairs we’re saving you…
We manage everything, for less
All of our properties must be kept in good condition, advertised and let, and the tenants managed. We do all of this for a fee that is far lower than the UK’s largest letting agents: a 10.5% + VAT charge on rent that is already factored into the dividend you see. We do this through third party managers who are interviewed and chosen carefully for:
1. Their suitability and experience in managing the kind of property we’re offering them
2. Their ability to service tenants well, and maintain properties efficiently
3. The fees they charge tenants, which should be fair. We sometimes reject agents on these grounds
Adding value for investors, and keeping tenants happy
Before purchasing a property, we will always create a financial model to make sure that it makes sense as an investment once all costs are factored in. These costs cannot be ignored; maintaining the good condition of your property is essential.
If the property is well maintained, it benefits investors and tenants alike. Upgrading your estate helps maintain the level of return from rent, and will reduce void periods if tenants are happy. We will sometimes even look for cost-effective improvements that will add value to the property for investors, while improving the experience for tenants – and factor these into the costs along with the rest.
We make allowances for costs
Each month we set money aside – not just for standard costs – but also for unexpected ones, which many landlords don’t allow for. Doing this helps protect your monthly dividend, and so far, we have never underpaid a dividend. Costs include:
If there’s a leak, a problem with the electrics, or a toilet that needs replacing.
A property could be untenanted for a time between contracts, or if a tenant falls into arrears.
All of our properties are insured. We have good relationships with the brokers who find an extremely fair deal to keep costs low.
Block maintenance or service charges
Maintenance, cleaning, and health and safety requirements are all considered. Often we own the Freehold, which saves on cost, as we control the service charge. If we don’t, the service charge is allowed for.
We make life a lot easier for you. We do all the research, the financial modelling, and manage the properties. (The high street agents will charge you a lot more). Why not take a look at the properties available on our marketplace: