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Property Tribes is delighted to announce the launch a new tribe - Property Management - and welcomes a new sponsor, The Happy Tenant Company to "power" these discussions.We launched this tribe to put property management centre stage, as it is perhaps the most important part of the landlord lifecycle, which Property Tribes defines as:1. Pre-acquisitionThe phases where the prospective landlord is gathering information, doing due diligence, stacking deals, viewing properties etc.2. AcquisitionThe legal process of acquiring a property.3. ManagementThe part of the cycle where the landlord is managing a property and tenancies.The property management phase is by far the longest.As a landlord, you may be in a commercial relationship with your property and its tenants for 25 years. A lot of newcomer landlords think that you buy a property (conveyancing process takes 2 months) and then rent it out and sit back and watch the rent roll in.Far from it! The management phase means not only managing tenants, but also ensuring compliance, maintenance, repairs, solving problems, etc. With significant fines for non-compliance, high standards of property and tenant management have never been more important.Good property management has the following outcomes:> Maintains your asset value> Ensures you achieve the highest possible rents> Minimises voids as the property shows well to prospective tenants> Minimises the costs of repairs, as matters are dealt with promptly and are not allowed to escalate.> Encourages tenants to stay longer.4. ExitWhen the landlord decides to sell up.Being a property agent is different from being a property manager – finding a tenant is not the same skill as managing one.
Being a property investor is also different from being a manager, so portfolio landlords may like to outsource this part of the process.Property Tribes met with Adam Joseph, CEO of the Happy Tenant Company, to find out more about their service for portfolio landlords in London and within the M25.
Property Tribes and The Happy Tenant Company believe that, what all tenants want is for all repair and maintenance matters to be dealt with urgently, and to be treated as customers rather than annoyances.Visit The Happy Tenant Company websiteProperty Tribes would like to take this opportunity to thank HTC landlord Neil for the kind use of his stunning London flat for the filming.Please join us in welcoming a new sponsor/supporter as this helps maintain Property Tribes as a free to use community resource.SEE ALSO - Smart landlord property management optionsUP NEXT - What tenants want ... it's not rocket science.DON'T MISS - How to vet a lettings agent ... 12 questions to askNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Thanks Vanessa for the warm welcome.
I'm really excited to be part of this important community on Property Tribes and i hope i can contribute to some of the disscussion and even offer some advice along the way.
Thanks Adam. I think your suggestion of a tribe dedicated to property management was a very sound one and now we can really place a further emphasis on this, with your support and input. Thanks for being a supporter of this site.