How to Make Being an Wembley Landlord Less Stressful

As a landlord, you might have invested in property for additional income; maybe it’s a way to save for your future, or perhaps you’re an accidental landlord and had to rent your property out due to a change in circumstances.

How to Make Being an Wembley Landlord Less Stressful
Whatever the reason, it’s a safe bet that you want to make a good return on your investment.
 
But while you’re happy to use a letting agent to find tenants, when it comes down to it, you just can’t bring yourself to pay them to manage the property for you.
 
This might just be one of your biggest mistakes.
 
In this quick read, we look at why paying for property management might be the best decision for your pocket (and sanity).
 
How much does it cost for an agent to manage a property?
Let’s tackle the hard bit first. Agents can charge anywhere between 10% and 15% for full management. So, if your monthly rent is £1,500, you could be shelling out up to £225 a month. It’s definitely not cheap, but it does offer peace of mind in the event of problems occurring.
 
What does property management include?
Once an agent is managing your property, they can take care of aspects such as finding tenants, communicating with tenants (and you), rent collection, deposit protection, repairs and maintenance, inspections and deposit disputes. It’s best to speak to your chosen agent to find out exactly what their fee includes.
 
They have a black book full of contacts to get all your repairs done, including gas safety checks and boiler repairs.
 
When should you consider property management?
If you’re a full-time landlord managing several rentals, it may not be the right choice for you. However, rent collection services could save you time.
 
If you own a single rental and have a demanding job or other commitments, paying a monthly fee for management services may be the best thing you do.
 
Think of it as an extended insurance policy. Not only will they do all the admin required when finding tenants, but they’ll also manage the day-to-day elements of your property, saving you time and hassle. They’ll also carry out regular inspections, which many landlords fail to do. Speak to your agent to clarify what’s included in their service.
 
Similarly, if you live far away from your rental property, using a property management service just makes sense. They’re closer and can deal with issues as and when they arise.
 
What else does property management offer?
Rules and regulations around rentals are always changing, and it’s an agent’s job to know what the government is implementing and when. They can keep you up to date with your legal obligations and ensure the property is fully compliant with health and safety laws.
 
Letting agents are also regulated, so must adhere to codes of professionalism, and have a duty of care towards you as their client.
 
If you’re looking for a property management service or help to find new tenants, get in touch with Grey&Co today.
 

Get in touch with us

First Name*
Last Name*
Your Email Address*
Mobile Phone*
Are you looking to*
Please enter message here*
Please confirm that it is okay for us to contact you about this information as well as products and services. (You will always be given the right to unsubscribe at any point in the future)*

Register for Property Alerts

Ever missed out on the perfect property just because you heard about it too late, or the Estate Agent never told you about it as it was slightly outside of your criteria? Never miss out again by using our “Heads Up Property Alerts”.

Latest Properties

Spacious 3 Bedroom House with extended family home and off-street parking in Monks Park, Wembley.

Guide Price

£590,000

3 Beds2 Baths2 Receptions
monks park, wembley

three bedroom semi detached house

extended family home

close to oakington manor primary school

Spacious 4-Bedroom Detached House with Garage, Sauna, and Ample Parking in Wembley

Guide Price

£1,300,000

4 Beds2 Baths3 Receptions
harrowdene road, wembley

large four bedroom house

off street parking for multiple cars

garage

Modern 3 Bedroom Terrace House in Sudbury Town Wembley - Move in Ready!

Guide Price

£600,000

3 Beds2 Baths2 Receptions
Central Road Wembley Middlesex HA0 2LJ

Beautifully Presented Modern 3 Bedroom Extended Terrace House Which is Move in Ready

Bright and Spacious Front Reception Room

Contemporary Open Plan Reception Kitchen Diner at the Rear With Access to the Rear Garden

Meet Abigail

  Hello, my name is Abigail, and I am the Grey in Grey & Co. I started working here in 2002 as a Junior Negotiator and have worked my way up the ranks since then. I took over running the company in 2014 and have been enjoying the roller coaster that is leadership ever since.   During my 20 plus years at Grey & Co I have dealt with the sale of over £100,000,000 worth of property and overseen the management of assets worth £250,000,000 for clients around the world.   I also had the pleasure of working with my father, the founder of Grey & Co, for 15 years before he sadly passed away and from him, I learnt the work hard ethic and our values today are still the ones that he founded the company on all those years ago.   Be Remarkable, Be Passionate, Be Humble and Be Better.   As a community centric boutique family agency, you couldn’t find a better partner to take with you on your property journey.

Meet All The Team

Latest News on the Renters’ Rights Bill

The Renters’ Rights Bill has just passed its latest stage in the House of Commons. Here, we’ll look at what happened and at what it could mean for landlords, tenants and anyone considering selling their rental property investments.

Three Ways Trump Could Influence the Wembley Property Market

Next Monday (January 20th), Donald Trump will be inaugurated as President of the United States of America for the second time. And whether you love or loathe him, there's no escaping from the fact that he's one of the world's most powerful person (again).

Energy Bills in 2025: A Guide for Wembley Landlords

With household heating costs still a key concern, here are some tips for landlords on managing tenant energy bills.