What is property management?
Posted May 10th 2023
As the name would suggest, property management is when a third party such as an estate agency manages your rental property on your behalf. What this management involves can depend on both the needs of the landlord and what the agency has to offer.
Here at JNP, we know every landlord has a different reason for letting a property and different needs from a letting agent. That’s why we provide a range of flexible landlord services to meet your needs.
Our three service options are Tenant Find, Rent Collection and Fully Managed. While they have overlapping services, the three have different fee levels and varying amounts of involvement from the property management team.
Tenant Find
At the Tenant Find service level, the Property Management team is partly involved in the pre-tenancy process related to marketing and contracts, but takes a step back during the actual tenancy.
Services offered as part of this level include:
- Value the property and provide marketing advice
- Prepare property details
- Carry out right to rent checks
- Collect agreed security deposit
Rent Collection
With Rent Collection the Property Management team is fully involved when finding a tenant and partially involved during the actual tenancy, but to a lesser extent than at the Fully Managed level.
As well as all of the services offered as part of Tenant Find, the Rent Collection level involves:
- Protecting deposit money in line with regulations
- Collecting all monthly payments
- Pursuing non-payment of rent and provide advice on rent arrears actions
- Negotiating renewal at the end of the fixed term tenancy
Fully Managed
At the Fully Managed level and for a slightly higher fee the Property Management team is more involved in the letting process, especially during and at the end of a tenancy.
All of the services offered as part of Tenant Find and Rent Collect are included in Fully Managed, with the addition of things such as:
- Regular property inspections
- Arrange routine repairs and instruct approved contractors
- Hold keys throughout the tenancy
- Negotiate return of the deposit and any deductions required
For more information about our landlord services, please visit our service options page or contact our Property Management team.
