Renting property is big business in the UK. With an estimated five million households living in rented accommodation across the country, the demand is high and set to increase.

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Letting

The buy-to-let market has seen property investment become a popular way to secure regular income and receive financial rewards; however, letting property can also prove to be time consuming and involve a lot of administration, which requires industry knowledge. In addition to preparing contracts, property owners will need to ensure they are meeting the many rules and regulations that are in place, including managing health and safety assessments, keeping financial records, organising the correct insurance, and keeping all documents up to date.

Property management

Properties will also require day-to-day management, which includes checking that electrical installations meet industry standards and requirements. Ensuring utilities such as water and electricity are regularly serviced and in full working order is also essential so that any faults or damages can be rectified quickly, safely and efficiently.

Companies such as http://www.completepropertygroup.co.uk/property-block-and-estate-management/ can handle all this on behalf of the property owner, giving them peace of mind and ensuring landlords are not on call 24/7. They can also look after the property maintenance, which can include organising the regular cleaning of communal areas, maintaining outdoor areas such as drain clearance, and providing regular property inspections. The service can also offer financial support by managing the accounts and budgets for the property, including rent collection.

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The market

One in four households in Britain are set to be renting by the end of 2021, one-quarter of which are families with children. This figure is expected to rise over the next five years. People in their 40s are now almost twice as likely to be in a private landlord rental property than they were 10 years ago, according to recent data analysed by the BBC.

As a landlord, the most important part of renting a property is making sure the tenants are happy and the property meets all the health and safety regulations, ensuring their investment is secure. Having a managed property means any issues with tenants can be dealt with quickly and effectively, including any complaints or grievances. Help can also be given to assist with the unpleasant business of pursuing evictions if required and ensuring the property is protected.