Property Management and the maintenance costs associated

Property Management and the maintenance costs associated

"It takes a village to raise a child," as the saying goes - well, the world of property management is not that far off, as it takes an entire community of people to manage a property to high standards. As lettings agents in Hackney, we understand what tenants want when they move to this part of London and well maintained, attractive properties are high on the list. For landlords, the costs of maintenance can quickly escalate. So, how do we ensure that we get the best value alongside the highest quality service for the properties that we manage?

Property management maintenance costs - what's involved?

• Long term care of the building. Ensuring that every aspect of maintenance is covered to help keep the building in great condition for longer. A proactive, preventative approach that stops small issues from escalating into larger problems that can cause conflict with tenants and may be costly to fix if left unattended.
• Regular checks and inspections. Covering those checks and inspections that are legal requirements for landlords (e.g. annual gas safety inspection). Going above and beyond the minimum to check that the property meets a certain standard and is a safe and positive space for tenants.
• Dealing with urgent situations that arise. For example, where a new landlord client has a property that has not been well maintained by a previous agent and there is a need for specific and urgent repairs. A good managing agent will be able to step up and provide a quick and efficient service to help preserve tenant relationships, avoid risks to health and safety and keep maintenance costs down.

How do managing agents minimise costs?

For many landlords, repairs and maintenance can be a crippling expense. It's tempting to avoid regular maintenance if there is a perception that this is an unnecessary cost but this is frequently a false economy. There are too many properties that fall into serious disrepair because regular maintenance has not been carried out. They tend to require significant resources to bring them back to a rentable standard.

We are letting agents in Hackney with an in-depth understanding of what our landlords need when it comes to minimising costs. Our team has established a strong network of local contractors and we are well connected when it comes to finding the right people for the right job at the right price. We also use all the tech resources that are available to help with issues like this, including Airtasker. Airtasker enables us to source professionals for a specific job to ensure both quality and cost effective pricing. As well as being cheaper than working with a big corporate, a site like this also offers the opportunity to support local independent traders and small businesses.

There can be multiple costs associated with property management but with the right letting agent you can ensure that these don't escalate. Storeys is a letting agent in Hackney with a wealth of experience in making sure our landlords get the best deals at the right price. Contact us to find out more.