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  • Property-a-holics

    Property Managers...What Do They Do?

    Afternoon fellow tribespeople!

    I am due to complete on my next property shortly and would like to take a more hands off approach with this one and move to more of a property investor rather than a landlord.

    Hopefully there will be an opportunity to allow a family member to take on this role and train them up so to speak.

    Obviously I would get a much more professional service from an established property manager, however, I would like to help my sister by giving her this role.

    So far the idea is a few brain storms and pondering, but will it work? How would payment between us work, will my cost be tax deductible? How would she claim the income / would she have too?

    What does a property manager actually do? From the nitty gritty to the glaringly obvious.

    Is this achievable or shall I go for a run of the mill property manager, (subject to DD).

    Any thoughts or points are greatly appreciated.

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    Omega Property (Formerly SBS Ltd.)

    I am not professionally trained to give advice, generally posting for the benefit of the community or my own personal development.

    Hi really good question.

    I have managed my own stock since 2011. Learnt so much in that time.

    I now help investors with their property journey from procurement to redevelopment and management. To be clear I am not a property guru/coach offering chargeable training.

    Operational management is a skill which needs to be developed through knowledge and experience.

    As a property manager I ensure I have a good relationship with the investor and tenant.  The tenant has to be treated as the customer who is paying for a service.

    There are many aspects to control,  tenancy management, income collection, compliance and asset management.

    Understanding HB and UC rules is a must and be flexible on Letting based on the property type and location.

    Cost is generally 10% of gross income. I also have looked how EA work and changed that model totally. Property management is evolving. No longer is it an easy ride. We have to earn our fee by offering and providing a high quality service to both investor and customer.


    If I can help you further, please just ask.

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