Ep.22 Do You Need A Property Manager?

greyscale photography of condenser microphone

There are many decisions that you will need to make when investing in real estate. One of those decisions, for those handling rental properties is whether or not you need a property manager. Property managers have many uses and are a great idea for those who have many properties to handle and wish to have a life away from their real estate investing businesses. A property manager is your buffer between your tenants and you.

Episode 22 of the Property Business Club Podcast

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Podcast script:

Hello and welcome to the Property Business Club Podcast episode 22. I’m Lena Benjamin, property consultant at Benjamin Property Services, with over 10 years of real estate and built environment experience, helping you to find, purchase and refurb a home, investment or flip in London & Kent no matter where you are in the world.

To get started with our services complete the new client registration at benjaminpropertyservices.co.uk/property-brief. To become an introducer for a five figure passive income find out more at benjaminpropertyservices.co.uk/introducers. To become a member of the Property Business Club visit benjaminpropertyservices.co.uk/pbc 

On today’s podcast episode Do You Need a Property Manager?

There are many decisions that you will need to make when investing in real estate. One of those decisions, for those handling rental properties is whether or not you need a property manager. Property managers have many uses and are a great idea for those who have many properties to handle and wish to have a life away from their real estate investing businesses. A property manager is your buffer between your tenants and you.

The benefits of a good property management service are quite numerous. To begin with you will find that they eliminate the need for tenants to have your phone number. If you’ve dealt with rental properties before without the buffer of a property manager you are surely aware that it doesn’t matter what time of night or the morning things go wrong, you are the first person your tenants call to fix those things. A property management service is able to handle many things for you while letting you sleep through the night. It’s no small favour when you consider the multiples of tenants as you purchase more properties. A few late night phone calls and many rental property owners are almost ready to get out of the business of renting properties.

Property management services also often happen to have a qualified staff of maintenance people that can handle many of the things that go wrong with rental properties. The fee for these services may be included in your fees for the using the property management service in general or certain services may charge additional fees. Regardless your property manager or property management team is often the best source to find contractors to handle the repairs they cannot make for you as well as the repairs that they can. It’s nice to know that you won’t be getting up bleary eyed in the morning calling around for a plumber on the first exceptionally cold day of winter. Moreover it’s nice to know that someone else can deal with some of the negative things about owning rental properties.

My personal favourite reason to seek the services of a property management service is that they are qualified to handle the legalities of taking care of tenants who cannot make the rent for months on end. This is after all a business and while you can relate to the circumstances that leave some people unable to pay their rent you need the income from their property in order to make your bills. It’s much easier to leave some of the less pleasant tasks to someone else, especially if you are a softy for sob stories like me. Just make sure that you get the most of the property manager.

Property managers also handle the advertising for your property and the cleaning up and retouches that are necessary between tenants. They  also allow you to take vacations and such filled with the knowledge that your properties and tenants are in good hands even when you aren’t there to oversee everything. Everyone needs to take a break sometimes it’s nice to know that with a reliable property manager you can actually sit back and relax while taking those breaks without worrying about all the particulars of the properties you own so far away. 

If you are going to invest in real estate, this is one of the most worry free ways you can do it. The more properties you have, the more sense it makes to utilise the services of a reliable property management team.

At Benjamin Property Services, New Clients pay a refundable commitment fee of £1,000 which is refunded from the success fee of 1.5% commission on the negotiated property purchase between £500,000 and £10,000,000. If you do not complete, on the property or properties presented in our comprehensive reports, within 3 months a refund is provided minus an administrative fee of £250.

Area tours are from £195 to tour one area for the property search process and we also project manage refurbishments for £500 per day or establish a team of builders for free.

Benjamin Property Services & Property Business Club For Clients Worldwide Helping to Find, Buy & Refurb a Home or Investments in London & Kent UK. Introduce for Income. Online Members Club for UK Real Estate Wealth. Get Started at benjaminpropertyservices.co.uk 

Thanks for listening to Property Business Club Podcast with me Lena Benjamin property consultant and online membership coordinator at Benjamin Property Services and Property Business Club.

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Written by 

This podcast provides property wealth building opportunities in the UK and Internationally. Together with a mix of thought leadership interviews with successful investors and wealth builders from around the world. Hosted by Lena Benjamin, with over 10 years of experience in property management, real estate and global multidisciplinary engineering consultancy. Visit BenjaminPropertyServices.co.uk/Podcast to schedule your remote podcast interview. Listen, leave a message and support the show at anchor.fm/propertybusiness