Benefits of Hiring A Property Management Company
Being a landlord can be rewarding, but it's also time-consuming and complex. From finding tenants to handling maintenance, the responsibilities can quickly become overwhelming, especially if you own multiple properties or have a full-time job. This is where a professional property management company like PropHome can make all the difference.
What Does a Property Management Company Do?
A property management company handles the day-to-day operations of your rental property. Services typically include:
• Finding and vetting tenants
• Collecting rent
• Property maintenance and repairs
• Inspections and compliance
• Tenant communications
• Legal compliance
• Financial reporting
Essentially, they act as the intermediary between you and your tenants, handling everything so you don't have to.
Key Benefits of Using a Property Management Company
1. Time Savings
This is often the biggest benefit for landlords. Managing a rental property can easily consume 10-20 hours per month or more. A property management company frees up your time to focus on:
• Your career or business
• Finding more investment opportunities
• Spending time with family
• Other priorities in your life
If you value your time, the cost of property management is often easily justified by the hours you save.
2. Better Tenant Selection
Professional property management companies have refined processes for finding and vetting tenants. At PropHome, we:
• Advertise on major property portals like Rightmove and Zoopla
• Conduct thorough reference checks
• Verify employment and income
• Check credit history
• Confirm right to rent status
• Contact previous landlords
Our experience helps us identify red flags that inexperienced landlords might miss. This means you're more likely to get reliable, long-term tenants who pay rent on time and look after your property.
3. Higher Rental Income
Good property managers know the local market inside out. We can advise on:
• Competitive but maximum rental rates
• Which improvements will increase rental value
• How to market your property effectively
• When to adjust rent (within legal limits)
While you pay a management fee, the increased rental income often more than compensates for this cost. Plus, professional property management reduces void periods, meaning your property earns money more consistently.
4. Legal Compliance and Risk Management
The legal requirements for landlords have become increasingly complex. Property managers stay current with:
• Tenancy deposit protection schemes
• Right to rent checks
• Gas safety certificates
• Electrical safety standards
• Energy Performance Certificates (EPCs)
• Smoke and carbon monoxide alarm regulations
• Houses in Multiple Occupation (HMO) licensing
• Upcoming legislation like the Renters Reform Bill
Non-compliance can result in hefty fines or even criminal prosecution. A property management company ensures you stay on the right side of the law.
5. Efficient Maintenance Management
When something breaks, tenants need it fixed quickly. Property management companies have:
• Networks of trusted, vetted contractors
• Negotiated rates for repairs
• 24/7 emergency contact systems
• Processes for approving and tracking repairs
At PropHome, we handle maintenance requests promptly, get competitive quotes, and keep you informed. We also conduct regular inspections to catch problems before they become expensive emergencies.
6. Rent Collection and Financial Management
Chasing late rent is one of the most stressful aspects of being a landlord. Property managers:
• Set up automatic rent collection systems
• Follow up promptly on late payments
• Handle difficult conversations about arrears
• Take legal action if necessary
• Provide detailed financial statements
• Handle deposit disputes
You receive your rental income reliably without the stress of chasing tenants.
7. Detailed Record Keeping
Professional property management companies maintain comprehensive records:
• Tenancy agreements
• Inspection reports
• Maintenance history
• Financial transactions
• Communications with tenants
• Compliance certificates
This documentation is invaluable if disputes arise or for tax purposes. At PropHome, you have access to an online portal where you can view all this information anytime.
8. Objective, Professional Relationship with Tenants
Having a property manager as an intermediary helps maintain a professional, arm's-length relationship with your tenants. This has several advantages:
• Tenants are less likely to try to negotiate or make unreasonable demands
• You're protected from emotional or confrontational situations
• Complaints are handled objectively
• Your personal information remains private
This professional boundary makes for smoother, more businesslike tenancies.
9. Stress Reduction
Let's be honest – being a landlord can be stressful. Late-night emergency calls, difficult tenants, maintenance issues, and legal worries can take their toll. A property management company takes this stress off your shoulders.
Many of our landlords tell us that the peace of mind is worth the management fee alone. You can sleep soundly knowing your property is in capable hands.
10. Expertise and Experience
Property management companies deal with rental properties every day. This means they:
• Know what works and what doesn't
• Can spot potential problems early
• Have seen every type of situation
• Know how to handle difficult circumstances
• Stay current with market trends
This expertise is particularly valuable for new or inexperienced landlords.
What About the Cost?
Property management typically costs between 8-15% of the monthly rent, depending on the level of service. While this might seem significant, consider:
• The time you save
• Better tenant selection reducing problems
• Higher rental income from market knowledge
• Reduced void periods
• Lower costs from efficient maintenance management
• Reduced risk of legal penalties
• The value of peace of mind
For many landlords, especially those with full-time jobs or multiple properties, professional management actually saves money in the long run.
Different Levels of Service
Property management companies typically offer different service levels:
Tenant Find Only
• Finding and vetting tenants
• Preparing tenancy agreements
• Handling deposits
• You manage the tenancy yourself
Rent Collection
• Tenant find services plus
• Collecting monthly rent
• Basic tenant communication
• You handle maintenance and compliance
Fully Managed
• Complete service including
• Everything above plus
• Maintenance coordination
• Inspections
• Compliance management
• Full tenant liaison
At PropHome, we offer flexible services to match your needs and budget.
Is Property Management Right for You?
Property management makes particular sense if you:
• Have a full-time job or business
• Own multiple properties
• Live far from your rental property
• Value your time highly
• Find tenant management stressful
• Are new to being a landlord
• Want to expand your property portfolio
• Own property abroad
Even experienced landlords often reach a point where professional management makes more sense than doing it themselves.
Choosing the Right Property Management Company
Not all property management companies are created equal. Look for:
• Relevant industry accreditations
• Transparent fee structure
• Good reviews and references
• Clear communication
• Modern technology and systems
• Experience in your area
• Comprehensive insurance
• 24/7 emergency support
At PropHome, we pride ourselves on combining professional expertise with modern technology and transparent, competitive pricing. We're a fully online letting and property management agency that provides the personal service of a traditional agent with the efficiency and value of a modern digital platform.
The PropHome Difference
We offer:
• Transparent Pricing: No hidden fees or surprises
• Full Service: From tenant finding to full management
• Technology: Online portal for 24/7 access to your property information
• Experience: Over 30 years combined experience in property management
• Local Knowledge: Deep understanding of the markets we serve
• Personal Service: You're not just a number – we know you and your property
We're committed to making property investment as stress-free and profitable as possible for our landlords while providing excellent service to tenants.
Professional property management isn't an expense – it's an investment in your peace of mind, your time, and the long-term success of your rental property. The right property management company will more than pay for itself through better tenant selection, efficient management, and helping you avoid costly mistakes.
If you're tired of the stress and time demands of managing your own property, or if you're new to property investment and want expert guidance, we'd love to hear from you.
For more information about our property management services and transparent pricing, call 0345 8686868 or email info@prophome.co.uk.
