Whether it is for short or long term rental, rental management will allow you to put all the chances on your side in order to have the best possible return. Indeed, your main objective is to generate income, on a regular basis and without any problem.
Nevertheless, the rental management implies numerous interventions on your part if you decide to manage it yourself. To avoid these various hassles, why not have your rental property managed by the right person.
What is rental management?
When you need a property management in Paris or the management of an apartment in London, the principle remains scrupulously the same. When we talk about rental property management, we are talking about a global action allowing the daily management of one or several properties. This service includes a multitude of activities starting with the search for a tenant to the collection of the various rents.
But that's not all, the tenant can have particular demands and in this context, the rental mission requires to answer his need. Sometimes, renovation works will have to be carried out, just like the realization of an inventory of fixtures of entry and an inventory of fixtures of exit.
But the rental management, it is also the management of the unpaid. Of course, this is the dread of the owners, but it is a situation that can unfortunately occur to you. Concerning the property management, it can be directly managed by the owner himself who will act as lessor or mandate a professional to fulfill the function perfectly. But in any case, it is necessary to ask yourself the right questions from the start to avoid finding yourself in a situation you did not want.
With the right property manager, you will avoid many worries.
What are the different services offered by a rental management agency?
Doing rental management involves choosing the right partner. You must therefore choose an agency capable of meeting your needs precisely and in this way you will be relieved of a set of time-consuming services. Moreover, property management requires a perfect knowledge of the market and therefore you must invest time and energy. The same is true for current standards and legislation, which is constantly changing.
The interest of going through a professional is therefore palpable in order to receive sound advice and benefit from a personalized support. From the beginning, in the search for a tenant, but also to define with precision the amount of the rent.
In case of deterioration or unpaid rent, you also benefit from an additional guarantee, because from the start the agency evaluates the risks in relation to the tenant's profile. Moreover, you know that your accommodation will be rented in the best conditions, according to the latest standards and legislation in force.
You should also know that the risk of vacancy remains much lower, because the agency will deploy particularly effective communication tools to find a tenant quickly. Finally, you should know that the pricing of such a service remains perfectly reasonable, as it will be between 5 and 10 percent of the monthly rent.
The management of a rental property while receiving personalized advice
By going through a specialized agency, the first benefit will be the advice. As soon as a difficulty appears, you know that you are not alone, because at any time the professional will bring his expertise. A particularly benevolent accompaniment and you can also question him if you have certain subjects which worry you.
This may concern charges billed to tenants, work that you may wish to carry out or the amount of rent. By going directly to the person in charge of your property, you will be able to get very precise answers. Don't forget that you are dealing with a real estate professional who knows the market perfectly and in particular the area in which your apartment or house is located.
Thanks to its permanent monitoring, it will be informed of the latest legislative changes and standards in force.
For you, it's a huge time saver, because you don't have to worry about the different administrative steps. No need to manage the inventory of fixtures, to answer the tenant's requests or to organize visits yourself. It is also the same for the rent receipts and of course the drafting of the lease.
An additional protection in case of unpaid rents
With a rental management contract, you are covered when you have the slightest dispute with your tenant. Indeed, unpaid rent is a real scourge and you don't want to find yourself in this situation. But with the right real estate agency, you get a rental risk guarantee. Generally, you are covered up to 70 000 €, but this ceiling can vary, hence the need to read your initial contract carefully.
Finally, this financial guarantee is particularly valuable for recovering the tenant's debts. But it is also this same insurance that applies to cover you against possible damages.
Nevertheless, some very precise conditions must be met for you to be able to subscribe to an unpaid rent insurance. First of all, the accommodation must be the tenant's main residence. If it is a secondary residence or a commercial premises, your guarantee will not work. Furthermore, the rent must be lower than 2000 €. Then, the conditions of resources of the tenant will obviously be studied with meticulousness.
Why does rental management remain essential to have an accommodation for standards ?
If you take the risk of putting a degraded dwelling at the disposal of a tenant, you could experience administrative and legal setbacks. Indeed, the housing must systematically be up to standard and if not, you will not be able to obtain a court ruling. This difficult situation will not happen if you go through a real estate agency which will carry out the rental management itself. This way, you are not outlawed, because the professional will tell you from the start if any work needs to be done.
He will take care of the different management tasks concerning the renovation, the repair works and of course the overall maintenance of the property. Moreover, if you wish to move towards ecological solutions and benefit from an accompaniment in energy renovation, the professional will give you his expertise.
But thanks to rental management, you can invest in any city and in any country. All you have to do is call on an experienced agent who will relieve you of all the administrative tasks. Ideal when you live far from the rental location.
Why is UpperKey the best solution for rental management?
First of all, UpperKey has real expertise in rental management. Whether you need short-term management for Airbnb rentals or longer-term rentals, you'll find an ideal partner.
From the start, you will discover a personalized service that will not leave you indifferent. Once you entrust your property to UpperKey, you'll have no more worries and you'll receive your income regularly. A very practical solution to maximize your investment, but also to have real peace of mind in your daily life.