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Having a well-managed rental property is something that can make a big difference to whether your rental investment will be a profitable one in the long term. Self-management is always an option, but having a professional property management company is recommended for landlords without great experience in running profitable investment properties, or without enough time to do so.
The first step to choosing a good property management company in Newport, is to do your research. This need not be a complicated task, if you know what you need to look for. Search online for “property management Newport” and see which companies have the best reviews from their past and existing clients.
Make a short list of viable options that you find, and then arrange to meet them at their offices for an ‘interview’. This can of course be conducted over the phone if an in-person meeting is not possible for any reason. You can also do this casual interview at the property that you want to let out.
The purpose of the interview is to get a feel for the property management (or lettings) agent and to see if they will meet your requirements. Some attributes to check for, when looking for a good property management company, are the following:
• Do they have a successful track record.
• Are they honest, transparent and dependable.
• Do they have a branch in your convenient location.
• Do they have access to a comprehensive list of tenants.
• Are they capable of effectively marketing your property.
• Do they have operating hours that fit your requirements.
• Do they have different flexible and comprehensive level of services.
• Do they have qualified and highly experienced staff.
• Do they have a passion for what they do.
Other more practical, or operational, services that they may offer are the following: Written procedures for employees and residents, tenant selection and referencing, preparation of tenancy agreements, full written and photographic inventories, arranging of check-ins and overseeing check-outs, full rent collection service, landlords paid via BACS each month, regular property inspections with a full maintenance service, serving of eviction notices, legal assistance, notifying utilities at the beginning and end of tenancy.
You may not require all of the above-mentioned services right away, but it is best to find property managers that will be able to fulfil all of your current requirements, as well as any possible future needs that you may have.