How Can I Make My Rental Property More Secure? - House Manage
House Manage

How Can I Make My Rental Property More Secure?

Real estate has been a mainstay of UK investment portfolios for decades, and with good reason: it has steadily gained value since the 1970s (barring any major and unexpected events), and all signs point to this trend continuing. Although there are a few potential snares, property ownership is generally seen as a safe and reliable financial prospect.

YOUR INVESTMENT’S LEVERAGE

Maximizing return on investment (ROI) over a set or unset period of time is always the goal of property portfolio development. However, this is not always as easy to accomplish as it may first appear.

There are a number of factors to consider, such as the expected annual growth rate (which will, of course, vary depending on location), the expected annual rental yield, and the possibility of building works, such as an extension or future development of your building, when estimating the likely future value of your investment. The revenue is simple to calculate, but the output needed to sustain this is more trickier to estimate.

Whether you’re renting a home for personal use or a storefront for business, there are a number of factors that need to be taken into account and controlled that aren’t usually obvious at the onset but may become a burden if the property management is not done properly.

Here are a few things to consider:

Locating and retaining renters

Most people who own homes want to rent them out to people who will pay rent and stay in the home as long as possible. Finding reliable long-term tenants is essential because of the high costs associated with tenant turnover and nonpayment. Buildings are less important than people when it comes to residential property management.

Tenancy agreements and the law

Legislation exists to protect tenants and landlords alike, with the goal of ensuring a high standard of living and a level playing field; yet, this legislation often appears to favor tenants, and landlords may find themselves in an endless cycle with a troublesome renter. Our team has extensive experience negotiating leases and assisting tenants in resolving issues that may arise. There is no need to suffer through this because we can eliminate it.

Maintenance and management of rental properties

The search for tenants who will treat your home with care and who won’t need constant maintenance is just as important as the search for a dependable tenant. Having a competent property management company can help you identify and head off this kind of problem by keeping your property in good repair and promptly and fairly responding to tenant demands. House Manage Property Management has been in the business for many years, so they know the ropes and can negotiate with you in a positive and productive manner.

Improved Construction

Increasing the quality of your offering and the rental value can maximize your return on investment, therefore you may want to consider making improvements to your building. Kitchen and bathroom upgrades are the most noticeable, and depending on the quality of the original, they may need to be replaced every 10-20 years. These spots get the most use, are vulnerable to interior design trends, and have significant weight in the tenant’s final selection.

The same holds true for commercial real estate: the upkeep of common areas and services is essential to maintaining the building’s viability as a rental unit. Fascias, lobbies, tech, electricals, loos, and kitchens/cafeterias must all be taken into account. When it comes to spending clients’ money, we’re just as frugal as if it were our own.

Growth in Construction

In the event that renovation or construction is necessary, we are here to help. Once again, our expertise means we can help you succeed with minimal setbacks because of our extensive background and experience.

Accounting and taxation

Buy-to-let landlords face a potentially complex set of tax regulations, which only grow more so with the number of rental units an individual owns. Keeping up with accounting and tax regulations is essential to safeguarding your capital. Hiring a professional property manager could save you a lot of money and time because they know what they’re doing with regards to keeping records and developing a short- or long-term strategy. We understand, and that’s why our entire operation is geared at easing your burdens.

Money well spent

Despite the challenges, real estate continues to produce strong long-term returns for investors. The London area and the South East are experiencing a rental property boom, and House Manage is here to provide the essential services you need to easily manage your portfolio and get the most out of your investment.

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