The past few weeks have brought on a lot of attention to both landlords and agents. Recent legislation and bills from David Cameron have continued to put landlords and their agents under scrutiny, not to mention the news regarding Foxtons maintenance charges which seemed to stir up quite a bit of attention too. So we thought it’d be a good idea to show you what a property management agency can do for their landlords and property investors.
All letting agents, estate agents, property sourcing agents provide a service to their landlords and investors. That goes without saying. Most of the services provided are entirely similar, with probably the slight difference here and there.
So what makes us different from everyone else? Truthfully speaking, there probably isn’t much that makes us different but we’ll leave that decision to you. For now, lets have a look what we at Silks can offer our landlords and investors.
What is it we do?
At Silks, our main aim for all landlords and investors is to help you create wealth, most likely through property investments. We aim to work as a partnership with our landlords and investors, giving you the best advice possible whenever necessary and help you create your own property investment strategy, striving you towards financial freedom. We offer a range of services to help manage your property portfolio from sourcing the ideal investments for you to fully managing your property.
What are the benefits of using a property management agency?
- Less stress = more time for you
Renting out a property is a huge headache for all/most landlords. Using an agent will minimalise the stress and headache for you. Delegating the management of your property over to an agent would ensure the necessary works etc are carried out. From advertising your property to conducting viewings to sorting out the legal documentation as well as keeping an eye on your property after your tenants have moved in, there is very minimal aspects of the whole renting experience you as a landlord would need to worry about.
- Full references – including immigration checks
At Silks, all of our tenants are fully referenced prior to their move in. This also includes them being checked against the ‘right to rent’ legislation which will soon be rolled out Nationwide. For more information on the ‘right to rent’ check out our recent blog post here.
- Legal documentations
As your management agency, all legal documentation from the initial tenancy agreement and Deposit Protection Services form to renewing the tenancy and if required, helping you throughout the eviction process would be carried out by us, so our landlords don’t need to worry about that either.
- Tax deductible fees
At Silks, our fees are simple. We charge a one off cost of £195 when your property is rented out which is never to be paid again whilst your property is being managed. A fee of 10% on the monthly rents received will also be deducted. However, the 10% monthly charge is tax deductible for landlords/investors (Though we do recommend double checking with your accountants about this) so you aren’t completely loosing out either.
- Simplicity and Transparency
All in all, our services are probably quite similar to all other agents out there. But we can truly say that at Silks we offer simplicity and transparency in all we do. Our landlords are issued a monthly statement which clearly states the rental income they have received as well as what expenditures have been deducted along with a copy of any maintenance invoices which may have been carried out.
We don’t charge our landlords on maintenance. What you pay for in maintenance is what the contractor charges you – so there are no hidden fees.
For further details on our services, feel free to either drop us an email at email@example.com or give the office a call on 01924 477999.