Using management companies to let your house

AnCiotog

I am a reluctant landlord, as I bought a house with my sister a number of years before I married. She also married subsequently and because it was during the recession we have had to rent out the house we bought as selling it would mean a big loss. We have used a management company to handle everything as we don't live near enough to deal with tenant issues. We have a wonderful tenant and he looks after the house better than if he owned it. Anything that goes wrong in the house is tiny, like broken taps or shower etc. However, my question is if we pay a management company are we not paying them to look after everything that the tenant needs doing, rather than they just being the go between? For example, two taps in the house are currently causing problems, and the management company want my husband to go and look at them. It's a small job, but my query is surely things like this is what we pay them for? Are am I wrong?

handlemaster

I would think thats what your paying them for.

October

The management company I have does that and have their own handyman. They proceed and do any repairs up to around €100. Anything over that they ring me in advance of repairs starting.

AnCiotog

That's what I would have expected too, but I thought I'd double check before saying it to them!

Mrs OBumble

Check your contract with them: there are different approaches. My company does or organises all repairs, but asks me first about anything which will cost more than E300. However they do charge a fee for each repair which they organise, and I could choose to organise some myself.

pwurple

Read your contract. It will all be in there.

Black_Knight

We recently moved into a rental, which was all organised by an agency. Once we signed contracts the agency told us the landlord had decided to maintain the property themselves and from there on in we'd have to deal directly with the landlord. Said the landlord didnt want to pay the 8% maintenance fee.

Assuming the above is applicable to all rentals, I guess you could just cancel your contract with the management company and maintain the property yourself.

We were a bit put off by this, since we had turned down a cheaper apartment because this one was maintained by an agency, and as it turns out our landlord is cheap and has caused us some inconvenience since we moved in. That said, if ye have built a relationship with your tenant already it should be no problem.

The_Conductor

What seems to be the norm-

Management Company fee of in or around 10%
All issues (and rent collection) dealt with by Management Company.
All repairs to a certain level dealt with by Management Company Company and taken from the gross rent.
Typically- any repairs of under a hundred are done automatically- they will contact you for instructions once you go over the set amount.

As for broken taps/washers etc- 100% the job of the management company to deal with them..........

Check what your agreement with the Management says- you may have agreed to something other than you (or I) imagine..........

antoinolachtnai

The management agent might get these things done for you by their own suppliers but they will charge you extra and take it out of the rent. A management agent's fee does not in my experience include any level of maintenance.