As the lettings market continues to thrive in an otherwise challenging property market, Townends Estate Agents, part of the Badger Holdings Group, have seen a huge increase in demand for managed properties in the last 18 months.

In an ever changing legislative industry, Townends have found that more landlords are realising the value in switching to a full service option to manage their properties.

Landlords are keen to use a professional agent who has full, up to date knowledge and understanding of compulsory legislations including Energy Performance Certificates, Tenancy Deposit Scheme and Houses of Multiple Occupancy amongst many others.

In addition, when looking for properties, more and more tenants are also requesting to rent a managed property.

As well as landlords, tenants wish to benefit from full security on maintenance issues being dealt with promptly during the course of their tenancy, knowledge that their deposit has been handled in line with legislation and peace of mind that a professional agent is on hand to assist with any needs whilst they are renting.

Caroline Kavanagh, Group Lettings Director for Badger Holdings comments:

“The last 18 months has seen a significant rise in the number of landlords opting for a managed service. In light of this, we have created an adaptable service which can facilitate tenants’ and landlords’ varying expectations from one situation to the next.

“We understand that this job requires diplomacy, attention to detail, good time management and strong negotiation techniques therefore we tailor our service to the individuals’ requirements, including offering an out of hours emergency service.”

From the landlord’s point of view, having a property managed means they have a dedicated team of people with whom they can liaise with on all matters relating to their property. There is less pressure as the formalities are taken care of, which can be particularly helpful for a landlord with a large portfolio.

A managed service can help deal with the service of official notices, minimise rent arrears situations and provide fully vetted contractors for all maintenance works. Any defects will be reported to a dedicated maintenance team, who upon receiving instruction from a landlord, will arrange works (this can be anything from boiler repairs to window replacement to full decoration/refurbishment to the property).

At the end of the tenancy a dedicated property manager will assist with negotiating the dilapidations to the property with the tenant and landlord, guided by the strict legislation of the Tenancy Deposit Scheme enforceable since April 2007.

Caroline continues:

“Property management involves the processes, systems and manpower required to manage the life cycle of a tenancy, which many landlords, having experienced the process themselves, now realise the benefit of having a managed service.”