Full time landlord
You own a significant portfolio of properties and this is what you do. You are in the property business as an investor.
Do you also choose to be a property manager or is this simply something you see as part of the job? It needn’t be.
You may have a small team of people who manage your properties, or a group of reliable suppliers you call in when needed.
We have landlords like this who trust us with their whole portfolio, and others who have us manage just some of the properties they own.
They may be growing their portfolio but don’t want to take on extra staff; they may have lost a key member of staff and don’t want to replace them; or they may have decided that the most efficient way to run their properties is to have their key staff manage us rather than each individual tenant.
This means there are no gaps in management because someone on your team is away. You or your team deal with one person in our office rather than scores of agents seeking your business. And you know you can be up to date with legislation across all of your properties, reducing risk and allowing you to focus on your investment strategy.
Case study: we have a number of large portfolio landlords who work with us. Here’s what one has to say about us. This landlord has a portfolio of well over 100 rental properties.
“I care about generating income with no hassle. I don’t want to be called in the middle of the night when the boiler’s gone.
I like having somebody else doing that.
What matters to me is that my rents come in on time and that my tenants are happy in the property – this means consistency and certainty….
Now our phone barely rings – it is quiet. (We have a) dedicated property manager. When it comes to a tenant issue, she responds quickly, deals with it straight away and then lets me know.
So I have the assurance that I will be kept aware, and can intervene if I choose. They are flexible. You can use whatever supplier you want and they’ll sort it out.
(Previously we used a high street managing agent.) They are too expensive, rip off landlords, add on fees. They don’t have the tenants’ best interest at heart – an agent is into sales and lettings and they don’t care about the tenant. Most high street agents see lettings as a pain.
What’s more I get back 50% of the cost of the HTC because it’s tax deductible. That leaves me free to focus on my developments.
The other big thing for us is that, when we were managing it ourselves, the biggest problem is when you talk to tenants directly and they want the rent reduced. Their perception is that you are the wealthy landlord and they are the victim…By having the middle man you don’t have a direct relationship.”