Many landlords manage the rental of their property themselves, but as we can see here, rental management is also a professional service. Entrusting the rental management of one or more properties has many advantages, but it obviously has a cost. Are you still hesitant to manage everything yourself or entrust this task to a professional? Are you wondering if there is a limit to the rental manager’s responsibilities and decision-making? Let’s answer all these questions today.
Is the owner’s agreement necessary in the context of rental management? The answer is yes, without hesitation. The owner remains the ultimate decision-maker in the event of disputes or particularly important decision-making. The owner can in any case get in touch with his rental manager whenever he deems it necessary.
Obviously, there is no question of accompanying the rental manager at each stage of his missions. Indeed, the delegation of the various tasks is precisely the main reason for which he is recruited. Moreover, the agreement of the owner is not necessary for the slightest steps taken by the service provider, otherwise, it would amount to managing the rental of all his property himself.
Thousands of owners manage the rental of their properties themselves, even if there are several (more than 3, for example) We can then wonder if entrusting the rental management to a professional is a good plan or a money loss.
Rental management by an expert has many advantages. It is particularly the best solution for owners wishing to rent out their property with complete peace of mind. Certainly, the use of a rental manager has a cost, but this investment is generally very profitable.
It is also strongly recommended for owners who have chosen to buy to let several properties and who work full time at the same time. In addition, rental management is ideal for landlords with absolutely no legal, financial and tax knowledge of the real estate market. And if in addition, the owner lives far from the properties for rent, calling on a property administrator is sometimes more practical in terms of cost and time management.
The service provider specializing in rental property management carries out almost all the tasks that fall to the owner in order to assist the latter. Rental management then comprises three main components:
The first part concerns all the paperwork (creation and drafting of real estate contracts, search for tenants, management of disputes, management of the landlord/tenant relationship, management of contract terminations, etc.) The technical part concerns everything which relates to buildings (verification of the condition of goods, inventory and organization of any work to be done, management and payment of this work, choice of service providers, etc.).
The financial part concerns rents. The manager checks, for example, the validity of the payments and manages all the accounting part. It also handles the collection of rents and establishes the operating result. It also organizes payments.
The agreement of the owner is necessary in rental management because the service provider cannot make absolutely all the decisions, in particular in the event of very important disputes. The property manager manages practically all the points relating to the rental, but the principal can perfectly get in touch with him at any time. Do you want to know more about rental management? More info here.