Whether renting out an unfurnished or furnished property, every landlord can choose whether or not to manage the rental themselves. L’Agencerie, your real estate agency in Albi, outlines the pros and cons of each option.
MANAGING YOUR OWN RENTAL PROPERTY
Self-management (where the owner manages the rental property themselves) requires skills and time to handle administrative tasks, oversee repairs, and find tenants.
The risks associated with rental vacancies and unpaid rent are also quite high. Unlike professionals, individuals do not always think to put the necessary safeguards in place and protect themselves effectively.
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DELEGATED MANAGEMENT OF A RENTAL PROPERTY
Delegating property management to a real estate agency saves time, since the professional handles the rental management, as well as the execution and maintenance of any repairs.
The risks of vacant rental properties and unpaid rent are also very real, but they are mitigated by the fact that real estate agencies generally offer appropriate safeguards. A professional is also often better able to quickly find a reliable and creditworthy tenant.
A real estate agent’s legal knowledge can also help you avoid a lot of headaches, since the real estate world—particularly when it comes to the rights and responsibilities of landlords and tenants—is vast and constantly changing.
Finally, in many cases, a rental management agency’s fees are proportional to the amount of rent collected (excluding periods when the property is vacant). You can therefore estimate the profitability of your real estate investment before committing to a particular agency.
DELEGATED MANAGEMENT OF A RESIDENCE WITH SERVICES
For a new, furnished property in a student residence or senior living community, outsourced property management allows the owner to avoid having to handle rental management, maintenance, and repairs.
There is no risk of rental vacancies or unpaid rent when investing in a serviced residence, because the income is based on a commercial lease signed with the management company (whether or not the property is actually rented out, you are entitled to receive income).
There are no costs during the term of the lease: routine maintenance is covered until the end of the lease, in accordance with the terms of the lease.
To learn more about the different options for managing a rental property, please feel free to contact us at 05 63 43 45 10. We can appraise your property in Albi and handle your rental management in Albi.
L’Agencerie —
