Property Managers: How much more are you expected to do?

The goalposts have shifted. An influx on new lettings laws introduced this October mean the role and remit of a property manager has changed yet again. While the Government want to make life for tenants and landlords more transparent, it becomes murkier and more complex for property managers.

Even more rules to abide by and subsequent actions to carry out will put pressure on even the most competent of lettings departments and plate-spinning property managers. I’m sure many of you will agree that as buy-to-let grows in desirability (great returns, great appreciation prospects on bricks and mortar and great mortgage deals), the more involved it becomes, leading landlords to rely heavily on the property professionals.

So what does today’s landlord expect from his property manager?

Testing, testing – the new laws regarding smoke alarms and carbon monoxide detectors require landlords to test each alarm to ensure it’s in good working order at the start of every new tenancy. This may be feasible for investors with one property close to where they live or work but for portfolio landlords or those whose lets are miles from their permanent location, it’s not going to be possible. This additional but very serious responsibility of alarm testing may fall to property managers. To make sure liability is properly addressed, managers will need a system in place that records the new tenancy tests, as this could be an accountability nightmare.

Resolutions regarding maintenance – how property maintenance issues are reported, logged and dealt with now have a massive impact on buy-to-let repossessions. Landlords using property managers will look for a professional who can prove they have a watertight reporting system in place. This is in light of the new law that states a landlord can only serve a Section 21 notice if all outstanding complaints about the rented property’s state of repair have been resolved.

Tip top timekeeping – landlords will also be looking for people who has excellent diary management skills. They will be looking for a meticulous manager who has a red flag that pops up on the first day of the fifth month of a tenancy. Why? New laws now stipulate that landlords agreeing new tenancies can’t issue a Section 21 within the first four months of a tenancy. How many landlords will want a Section 21 issues as soon as they legally can? Lots. Additionally, Section 21 notices will have a shelf life of six months, if proceedings are not issued. For now, this ruling applies solely to new tenancies but from October 2018, it will apply to all tenancies.

It’s a lot to take in, we know. It’s another couple of layers of competency on top of an already demanding job. Not every letting agency or property manager will have the time, resources or IT systems to implement the above successfully but it won’t stop landlords demanding such services.

Questions remain. When and where will the Government draw the line in terms of reshaping the private rental sector? And what help is out there for under-pressure property managers?

* Simon Duce is the Managing Director of ARPM Outsourced Lettings Support

 

ARPM

Simon Duce is the Founder and Managing Director of ARPM Outsourced Lettings Support - a business designed to help small and start-up letting agents/property managers offer a full suite of property management and tenancy administration services through outsourcing.

You May Also Enjoy

Rightmove logo
Breaking News

Highest demand to lease office space since pre-pandemic

The latest insights from the UK’s number one commercial property website Rightmove, reveals that the number of unique enquiries to lease office space is at its highest point since pre-pandemic, as businesses look for spaces that meet modern requirements. Demand to lease office space is 19% higher than the same period a year ago and…
Read More
Planning disputes on new build land
Estate Agent Talk

Planning consultations for major infrastructure to be streamlined

Robert Bruce, a planning and infrastructure partner at law firm Freeths LLP, said he: “Welcomed the change as a significant step to speeding up the DCO process and the focus on the quality and effectiveness of the consultation, rather than box ticking and a risk averse approach to pre-application consultation due to the current legal…
Read More
Breaking News

‘The property ladder pulls further away’ warns Open Property Group

For many first-time buyers across England, the dream of homeownership continues to slip further out of reach. Despite rising wages, soaring house prices are making it harder than ever to get on the property ladder. A leading UK professional house buying company ‘Open Property Group’ based in Buckinghamshire UK, has raised concerns over the ongoing…
Read More
Estate Agent Talk

How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase

Wondering how long it takes to buy a house in the UK? The average timeline ranges from 8 to 22 weeks, but even that can stretch significantly due to unexpected delays, especially if you’re a first-time buyer or caught in a chain. That’s why working with experienced professionals like Belvoir — one of the UK’s…
Read More
Love or Hate Rightmove
Breaking News

Rightmove to host Renters’ Rights Bill webinar with Guild of Lettings

Rightmove is hosting a live and interactive webinar session with the Guild of Lettings to help agents get Renters’ Rights Ready. The webinar will take place from 10:00am – 11:00am on Wednesday 23rd April. Susie Crolla, Managing Director for the Guild of Lettings, will be joining Rightmove to help agents with questions they may have about…
Read More
Breaking News

Mortgage completions surged 50 per cent in March amid race to avoid higher stamp duty

March saw highest volume of mortgage completions recorded since September 2021 Homebuyers report now needing an additional £13,530 on top of the property price to cover taxes and fees Three in four have seen housing costs rise, up £126 on average per month Renters’ confidence in their ability to purchase a property within five years…
Read More