You may be wondering what the benefits of hiring a professional property management company to take care of your property management needs are, which is why I have taken the initiative to answer that exact question for you!
If you have read Toller Property Group’s blog ‘Your partner in property management in a changing regulatory landscape’, then you will be aware of Section 21 and Section 8’s regulatory changes taking place in the near future. If you have not yet made yourself aware of these changes, then be sure to do so.
As stated in a UK Landlord’s Report survey undertaken by Finbri, a financial loan broker company based in the UK, “40.36% of landlords are unaware of the proposed Renters’ Reform Bill”. This will likely pave the way for landlords to make mistakes detrimental to their business if they are unaware of these different regulatory changes.
Being aware of these important regulatory changes will make you knowledgeable in this area which always has a positive impact on your property portfolio and as your role as a landlord. As a result of this, your tenants will feel confident in your abilities.
But, you may also need the support of a professional property management company, such as Toller Property Group, to guide you in this area. We have the knowledge and expertise to be able to help you navigate these changes, ensuring that you feel confident in your decision-making.
Reach out to me if you have any questions relating to any regulatory changes today on 01327 636 740.
The benefits of choosing a property management company:
Besides the many benefits of hiring a property management company to help you manage your property portfolio, there is a more niche benefit of doing so. Keeping up to date with the latest regulations within the property industry can be daunting, so here’s why hiring a professional property management company will help!
We have the expertise and experience to navigate complex regulations
Let’s be honest, trying to understand the latest regulations within the property industry is not everyone’s cup of tea, but luckily for you, it most certainly is our cup of tea! We have the experience and knowledge of these changes to Section 21 and Section 8 and have the means to communicate them to you in a way that is digestible and practical.
Additionally, the fact that we have this extensive knowledge means that we are able to protect your interests, ensuring that you have smooth tenancy transitions and that you are in a position to adhere to legal requirements.
We give timely updates
Changes to Section 21 and Section 8 regulations can occur frequently in the fast-paced rental market, and some may be missed as a result of this. By trusting Toller Property Group, however, we are able to give you timely updates on these changes that have an impact on your property portfolio.
This means that you will be able to focus on your property portfolio with the peace of mind that you are well-informed on any changes that may come up.
Legal compliance and risk mitigation
Avoiding any compliance issues is crucial when dealing with Section 21 and Section 8 regulations. The last thing that you want as a landlord is for your business to suffer because you aren’t aware of any legal changes that have been made.
Failure to follow the correct procedures can lead to disputes, delays, and even legal battles, but with Toller Property Group, our property management services are designed to mitigate these risks, ensuring that your property remains compliant and protected throughout the tenancy.
More benefits:
So, as you can tell, there are many benefits to hiring a property management company to help you keep up to date with new regulatory changes. But the list does not end here. There are numerous different reasons, too.
Financial reporting:
Numbers are not always easy to work with, and if you’re the type of person who dislikes bookkeeping, or anything to do with numbers, hiring a property management company will be highly beneficial.
On the other hand, you may be someone who really enjoys working with numbers but simply doesn’t have the time to manage your books efficiently. If this is the case, you will also find hiring a property management company extremely useful.
With Toller Property Group, you will receive detailed financial reports on your property, with an analysis of expenses, your income and variances. Additionally, your taxes will be simplified and accounted for too. Achieving financial clarity not only saves you time but also helps you save money in the long run.
Rent collected on time
Sometimes collecting rent can be like drawing blood from a stone and extremely frustrating, but by hiring a property management company, you won’t have to worry about collecting rent. Toller Property Group will ensure that your rent is collected on time and in an efficient manner. This will automatically take a lot of pressure off of you as a landlord, leaving space for you to focus on other aspects of your business.
So, if you’re ready to invest in a property management company that is knowledgeable on regulatory changes, be sure to touch base with us here at Toller Property Group.