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Headaches Involved With Managing Properties

August 15, 2012 By Leave a Comment

By now, regular readers of this blog know we operate on two distinct levels.  The first is to forewarn and forearm potential owners of property to rent in Liverpool to understand the processes involved in renting out your property. The second is to discuss the option of using an outside agent manage your property.

Lets recap on the typical responsibilities that will be undertaken by a property management Liverpool based company…

Typical responsibilities of a property management company include signing rental agreements and rental disclosures, complying with rental laws (such as lead paint tests and disclosures), taking care of all repairs and maintenance, fielding phone calls from tenants, screening tenants, and other such things. What is more, if desired, they will also help you make your accounts much easier by keeping track of everything as how the money is being spent on various properties. Therefore, if you want to get rid of all the headaches involved with managing properties and tenants, you should look no further than hiring a professional professional property management company.

What you can’t expect your property management company to do…

It is very important for you to understand that if you have houses to let In Liverpool you cannot expect your property management company to do everything for you. There are several tasks associated with your property that may not be included in their work profile. For example, they will not pay your bills, such as property taxes or mortgage payments. They will not even register your rental properties with local municipalities, unless you specifically ask them or upscale the particular contract. You will have to perform all these tasks yourself. However, if you do not have much time to handle these things, there are some other alternative options available to you. In order to save your time, you can have your mortgage lender escrow for the recurring bills, including ground rents and property taxes & insurance.

Food for thought

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Filed Under: Do your sums, Full Management Service, Tips For Landlords Tagged With: ,

How Is This Going To Play Out

July 29, 2012 By Leave a Comment

The great student crisis of Smithdown road

According to the newspapers, backed up by recent university figures, thousands fewer students have applied for university places this autumn and the usual clearing scramble for places after A-level results was much lower than expected.  It has been stated by some universities that there will be a drop of about seven per cent in the numbers applying this September, rising to nine or 10 per cent when applications from English students are counted separately.  last year we had record numbers of applicants trying to beat the £9,000 a year tuition fee hike, but as expected this year has been poor in relation to application.

What This Means

The families I’ve spoken to indicated that the uncertainty in the job market fueled by volume of graduates unable to get a job (let alone a job which reflects the academic qualifications) have also been a factor. If you localise this in term of property to rent in Liverpool, and how the city has been built on an influx of students flocking to a vibrant city, and freely spending on food, drink, good times and most importantly rented accommodation… the good times maybe over.

In the USA, families have attempted to save for their child’s ferociously expensive education, this has led to a save culture in further education. As the exponential rise in tuition fees have been brought on at pace, this is not the case in the UK. It’s reasonable to assume that housing areas that have been regenerated by the student pound where vast amounts of HMO accommodations are available may now be under-threat.

If a three year course costs £27,000 in fees, placing this figure against the last intake cost of £9,000 over the same three year period, will the students choose to live away from home? Would students wish to incur another substantial cost. Areas that have survived and regenerated because of the student housing boom, could now struggle as the demand is sure to reduce, until families have time to implement a university savings plan.

What Should Happen If You Own A Student Rental

We have three possible outcomes to this problem

1) Stay the same, reduce prices and hope the students, who now have market forces on their side, choose your HMO.

2) Sell your home.

3) Convert your asset to a standard rental property.

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Filed Under: City News, Housing News, Study the Market Tagged With: ,

Promoting Your Property

July 14, 2012 By Leave a Comment

How Can I Promote My Property?

Here at Property management Liverpool, we know you’re looking to promote your property to rent in Liverpool.

It can be advantageous if you’re in close proximity to a venue or institution that people love to visit. If you’ve houses to let in Liverpool or a flat to rent at the Albert Dock, then I’m sure the Tate Liverpool fits the bill. E.g. Currently the Tate has the ‘Turner Monet Twombly’ exhibition, and this a remarkable exhibit.

Here is a little bit of information about it, we feel if you’re promoting your property then you should promote local places of interest.

This ambitious exhibition brings together works by J.M.W. Turner (1775–1851), Claude Monet (1840–1926) and Cy Twombly (1928–2011), three of the most prolific and well-known artists of all time. Turner Monet Twombly: Later Paintings explores the similarities between these artists in style, subject and artistic motivation during the last 20–30 years of their lives.

Turner Monet Twombly: Later Paintings will feature iconic works such as Monet’s fabulous Water Lilies and Turner’s much loved Romantic landscapes. The exhibition will also include a major work from Twombly’s vibrant and well-received series, Blooming: A Scattering of Blossoms and Other Things, shown in the UK for the first time.

Alongside Turner’s compelling, atmospheric works and the beautiful and emotive art of Monet, Twombly’s original contemporary style adds a fresh and exciting dimension to the exhibition.

For those already familiar with the artists’ work, this exhibition is a revelation; for new audiences, it is a fascinating introduction. Not to be missed.

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Filed Under: City News, Study the Market Tagged With: , ,

What Is Property Management

May 27, 2012 By Leave a Comment

Property management relates to the operation and management of residential (e.g. residential property to rent in Liverpool), industrial, and commercial properties. It is the same as any other type of management in any type of business. A property management company operates everything on behalf of the landlord. E.g. duties may include credit and background checks on tenants, advertising vacancies for landlords, responding to and addressing maintenance issues, and accepting rent from the tenants.

A property management company, like any other business will charge you a pre-determined fee for their services…. because it adds value, in relation to time and expertise.  Most property management companies and specifically those dealing in houses for let in Liverpool will charge a certain percentage of the gross rent collected every month.

In order to save this money, you could complete all of the required jobs yourself. But, if you have lots of properties to manage, you may find all these tasks, daunting. Always remember, tenants are not very easy people to deal with. A serious property person will always invest their time on other core issues of the this type of business venture. Time is the most important factor so it’s always worth using the services of a professional property management Liverpool based company.

If you need anymore answers or would like a property management company you can trust…  call Bluerow Lettings on 0151 709 9638

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Filed Under: Uncategorized Tagged With: ,

Is This The Right Time To Buy?

March 5, 2012 By Leave a Comment

Well… Should we buy?

Down the line, we care about Liverpool property to rent. But it’s important that buyers can actually get on the property ladder, so we do have rental properties to market. The news from those who know such things, is that property transactions are at an 18 month high.

The stamp duty holiday has nearly ended (end of March) and buyers believe that house prices are no longer expected to fall!

The impact of the stamp duty holiday finishing at the end of March means that market activity is currently at a frenzied rate, with savvy buyers hoping to beat the government, and get a good deal.

We’ve spoken to brokers and they believe that now is a time for renewed housing market optimism. Our contacts around the county are reporting confidence for the future, and a belief that the housing market has finally stabilised. Buyers believe the market won’t drop any further… in fact they feel prices are starting to rise.

Conversely, if you have property to rent in Liverpool, you need to work harder to market this property. You should look at a property management company who are experienced in marketing rental properties.

With the property market, sustainability is key, banks need to be flexible and this can only be reflected in affordable mortgage finance. This may still be a little out of reach for first-time buyers.

The good news for buyers is that increasing confidence hasn’t yet led to higher prices.

Therefore maybe now is the best time to buy… if you’re a first timer.

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Filed Under: Study the Market Tagged With: , ,

Tenant Find Only Service

November 25, 2011 By Leave a Comment

Our Sponsors Blurow Lettings offer a very interesting service!

It’s called ‘Tenant Find Only’

The features it includes;

Marketing the property

You will get the same great service our letting agent provides for all our customers who have a property to rent in Liverpool. Without this type of marketing, you’ll make it unnecessary difficult to find the right tenant. We can assure you that potential tenants check the Bluerow website and call us for new properties… daily!

Accompanying all the viewings

We understand that finding the right tenant is possibly one of the most important considerations with any properties to let in Liverpool. With a wealth of experience, Bluerow lettings can help you find the right candidate and help answer all the questions, they’re likely to ask. We’ve seen it, heard it and done it all before!

Credit Checking tenants

We know that credit checking may not seem important, but trust us, it is! Imagine all the possibilities that could arise if you leave out this step. We have established links with agencies, and most importantly we go through this process on daily basis.

Then they hand over to the client, who takes over and produces the AST (Assured Short-hold Tenancy) agreements

For £395 + VAT

 

 

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Filed Under: Checking on tenants, Pick tenants with care, Services & Fee structure, Tenant Find Only Tagged With: , ,

Basic Supply And Demand

August 15, 2011 By Leave a Comment

Those in the know will say if you have a property to rent in Liverpool, you’re onto a winner. The Liverpool rental market is continuing to rise. Mortgage availability is still poor! Many more individuals are being forced to rent – and this situation looks set to continue for some time.

It’s basic supply and demand economics. As demand increases, so too does competition between tenants. This means that landlords are frequently placed in an apparently enviable position in which they are able to choose between several potential options.

While choice is always good, it can be difficult to differentiate. So what should you be looking for, and how can you help to make sure you choose the right tenant?

Check references

References are amongst the most useful tools available to you in the hunt for reliable tenants. The references you request will depend on the nature of your property. But residential landlords would be wise to request at least a verifiable reference from the prospective tenant’s previous landlord. Remember, though, that these are easily faked, so you should always follow up the reference – for example by phoning.

You may also choose to ask for an employer’s reference, but you should remember that this is not a guarantee of the tenant’s ability to pay their rent. Similarly, some landlords ask for an affordability reference from the prospective tenant’s bank. The bank will tell you whether or not, in their view, the tenant is good for the money – but again, you should not use this as your sole indicator.

To take all the hassle out of this time consuming and often futile task, you can use a property management company. It’s a great way to get the type of client and take the stress out of finding the right tenant. If you have a property to let Liverpool we’d recommend Bluerow Lettings

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Filed Under: Checking on tenants, Pick tenants with care Tagged With: , ,