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What Is Property Management? Secrets That Most Landlords Don\'t Know

Landlords Sales
Posted in   Feb 14 , 2025
What is the Property Management

Managing a property may seem straightforward, but many landlords soon realise that handling tenants, legal obligations, and maintenance can be overwhelming. This is why professional estate agents offer their services to first-time and existing landlords with diverse portfolios who know how important property management is in maximising their monthly returns whilst ensuring compliance with UK laws. This blog will uncover the secrets of what is a property management and reveal insights that most landlords are unaware of. Let’s begin with the basics.

What is Property Management?

Property management involves managing all the administration related to residential and commercial properties on behalf of landlords. Responsibilities may include searching for tenants, managing rent collection, and performing property repairs and maintenance while ensuring compliance with legal requirements. Landlords hire property management agencies to ensure their daily tasks are completed efficiently whilst they focus on growing their portfolios.  

What are Property Managers responsible for?

Generally, they are swamped in handling all the tasks for landlords and offer:

  • Finding the right tenants after a thorough background check.

  • Timely rent collection, following up with tenants behind their payment and handling all the deposit protection schemes. 

  • We perform routine checkups on the property to ensure that repairs and maintenance are in order, emergency exits are working, and everything complies with legal regulations. 

  • Drafting and managing the tenancy agreement and ensuring that evictions are drafted as per the updated tenant laws. 

  • Coordinating with the tenants and guiding them to follow the decided terms. 

Secrets of Property Management That Most Landlords Don't Know

1. Legal Compliance is More Complex Than It Seems

Landlords often believe that it's enough to have a tenancy agreement. However, the laws in the UK keep updating, and a new update may be about to be legalised whilst you make a draft. Some necessary regulations are:

  • The Renters (Reform) Bill 2024 is a proposed bill expected to become law in Easter 2025. It will ban Section 21 'no-fault' evictions and require more substantial grounds for eviction.

  • Gas Safety (Installation and Use) Regulations 1998 – Landlords must ensure yearly gas safety checks for their properties authorised by a registered Gast Safe engineer. 

  • The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020 – Landlords must inspect their properties every 5 years to ensure all electrical wirings are in good condition. 

  • Deposit Protection Rules – The landlords must register tenant deposits with a government-approved scheme within 30 days.

Landlords who fail to comply with relevant regulations can face hefty fines and legal action, so it’s important to consult a property management expert. 

2. Void Periods Can Be Reduced with the Right Strategy

Another common mistake many landlords don’t realise is the time it takes to find new tenants before the previous ones leave. Every empty month means no income for the landlord. However, property management estate agents have connections in the market, offer the best price, and conduct background checks on the tenants beforehand so that empty months are reduced to a minimum. 

3. Rent Collection is More Than Just Receiving Payments

Payments delayed due to time will disrupt the entire cash flow for landlords. Property management agencies work on an automated system based on sequenced follow-ups so that tenants always have the payment date in their minds. They can also handle all the legal council matters in case of any disputes, which allows landlords to stay stress-free. 

4. Not All Property Management Companies Are the Same

There is a myth about whether property management agencies are needed or not. However, it should be kept in mind that their experience, market knowledge, and approach to every tenant, as per their lifestyle and budget, are different. Working with a well-reputed company like Cribs Estates can make a massive impact in consistently generating rental incomes and maintaining your property. 

5. Landlord Insurance Is a Must-Have

Landlords often don’t give much importance to property insurance and assume their standard home insurance also covers the rental property. However, the landlords can also get insurance against any pending rent, disputes, or damages to property.  

Why Choose Cribs Estates for Property Management?

Whilst many landlords prefer to go solo on their journey, hiring a property management service has plenty of advantages:

  • Ensures compliance with UK property laws and protects landlords from potential legal issues.

  • Handling repairs, tenant disputes, and paperwork can be time-consuming.

  • A good property manager ensures optimal rental pricing, minimal vacancies, and timely rent collection.

  • Happy tenants stay longer, reducing turnover costs.

Maximise Your Property’s Potential

Property management involves legal compliance, connections with tenants, and overseeing finances that could lead to costly mistakes if not dealt with properly. Once landlords know the real secrets to what is property management, they will be able to make better decisions that ensure long-term success in the market. 

Cribs Estates can handle everything from tenant sourcing to legal compliance, ensuring a hassle-free experience for landlords. Contact us today, and our experts will gladly help you make better investments in 2025.

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