Redstones Property Management

Renting Your Property With Redstones : Introduction Only Or Fully Managed?

Renting out your property (or properties) to tenants provides you with a regular monthly income but as a landlord you have a range of responsibilities and legal obligations to your tenants and to your property.

With the private rental market enjoying significant growth, at Redstones, we are seeing an influx of new landlords as well as existing landlords who cannot manage their growing portfolio alone.  One of the questions we are often asked is whether an ‘Introduction Only’ or ‘Fully Managed’ service is the most appropriate.

This of course depends on the experience of the individual, the time they have available and the number of properties in their portfolio.

At Redstones we are seeing an increase in the number of property owners taking advantage of our extensive property management service for the following reasons:-

A fully managed service:-

  • Reduces your stress and anxiety as well as saving you time.  Many of our landlords work full-time so the added responsibility of managing a property can be time consuming.  You’ll have less time, energy and often less patience to deal with property repairs or other problems notified by your tenants.  As the landlord, you must attend to these issues promptly by law.
  • Allows you to assign the running of your property to the experts, knowing it is in safe hands.
Redstones Property Management

Redstones Property Management

A reputable lettings agency will handle all aspects of your rental including:-

  • Finding suitable tenants and carrying out all necessary background checks.
  • Comprehensive marketing of your property. At Redstones, we pride ourselves on our online reach and extensive presence on a range of property websites.
  • Drawing up the tenancy agreement and inventory, both when the tenants move in and also leave the property.
  • Collecting the initial deposit from your tenants and all monthly rental payments thereafter.  At Redstones, we also offer our Platinum Total Care Service which guarantees you receive your rental income even if the tenant fails to make a payment.
  • Providing you with a single point of contact, your dedicated property manager who will liaise between you and your tenants.
  • As a landlord, you are responsible for all property repairs whether planned or urgent.  With a fully managed service your property manager will ensure all routine and emergency repairs are carried out promptly.
  • Regular reports covering property inspections and inventories.
  • Arranging annual safety checks to ensure your property complies with all safety regulations.
  • Furthermore, on rare occasions, it is necessary to handle unpleasant situations such as tenants causing problems with your property or disrupting neighbours. In the most severe cases, this may result in tenants being evicted.  If your property is fully managed, these situations are handled by your lettings agent, ensuring you avoid the stress of potential confrontation.

With an ‘introduction only’ service you will enjoy the benefits of comprehensive marketing, the preparation of tenancy agreements and background checks on your tenants but once the tenants move in, the buck stops with you, as the landlord. This means you must be available on a 24 hour basis and ensure provision for the management of your property is in place while you are away on holiday.

We appreciate this may not be an easy decision.  To discuss the options available to you as a landlord with Redstones, call us today and we will be happy to explain the pros and cons of our various services to you.