One of the most frustrating jobs of property management is chasing late paying tenants. Unfortunately, it is one of the most common problems of the business. It wastes time which could be spent more efficiently and can become quite stressful. The continuous unanswered calls, texts and emails are an unavoidable part of the job. As property managers, how can we try to eliminate this? As much as possible, Pynnacle Assets try to determine the best tenants to suit the property. Choosing the correct tenant rules out an array of problems down the line, so we put a lot of effort into this initial stage of the process.
There are a few prerequisites the landlord needs to fulfil which are noted in the contract. This is to benefit all parties; the landlord, the management team and the tenant. The landlord needs to provide a current gas, electric and EPC certificate and the building insurance certificate. These will be held by Pynnacle Assets. The landlord will also provide three sets of keys once the letting agreement has been signed.
After the initial meeting, Pynnacle Assets will draw up an offer of contract to the landlord. In this offer is included a list of work that needs to be completed on the property. Once the work is completed and the property is available to the rental market, there will be no further costs to the landlord.
Pynnacle Assets are responsible for full maintenance and repair of the property for the duration of the contract. We assure our landlords that their properties will receive our utmost and thorough maintenance inspections. This guarantees that all wear and tear which may occur in the duration of the tenancy is taken care of by Pynnacle Assets with no further costs to the landlord.
One of the greatest benefits of having a management company such as Pynnacle Assets is that the landlord ALWAYS receives hassle free guaranteed rent every month! Whether the property is inhabited or not, that monthly payment will always come through. This applies when a tenant refuses to pay or the market is going through a quiet patch. Professional property management means no headaches for the landlord.
Pynnacle Assets letting agent will take care of the eviction of tenants in the unfortunate event this should occur. This can become quite a lengthy process as the tenant must have at least two months’ notice prior to eviction. The landlord does not need to be involved in this timely process.