Landlord Property Management Services [Awesome Cheap Solutions]

Firstly, let’s ensure we’re all on the same withered page…

What service do property management companies provide?

Generally speaking, when we refer to property management service, we’re essentially referring to a service that manages tenants’ on behalf of landlords, from start to finish, which includes, but not limited to:

• Property marketing (to find tenants)
• Tenant Enquiry management (pre-letting)
• Tenant viewings
• Tenant referencing & credit checks
• Inventory services
• Tenant check-in and check-out
• Contract management, including renewals (e.g. tenancy agreements, guarantor contracts etc)
• Management of repairs and maintenance all-year around
• Tenant Liaison
• Regular property inspections
• Annual safety checks (i.e. gas safety)
• Tenancy deposit management
• Rent collection and rate assessment
• Rent arrears management

So, if that’s the kinda’ landlord property management solution you’re searching for, I can confirm we’re officially on the same page.

If you’re looking for a less comprehensive management service, you’re probably looking for a simple ‘tenant-find’ or a pure ‘rent collection’ service. If so, that’s cool, because I’ve also got those topics covered, right over in the tenant-find section and rent collection services page.

The cheaper alternative to local high-street property management services…

Since the beginning of mankind, landlords [that require a fully-managed letting service] have been relying on their local high-street agent to fulfil their needs of babysitting their tenancies, and that was largely down to lack of alternative options. Perhaps that’s why landlords have had no other choice but to endure the notoriously spiky price-tags that come with management services.

Supply/demand, right?

Fortunately, in came ‘online letting agents’ – a cost effective alternative – that’s provided landlords with an alternative. A superb alternative. While online agents have become insanely popular over the last few years, the problem is, most landlords are still oblivious to their existence, so that means many are potentially overpaying for management services!

Just to clarify, I’m not saying no one should use local high-street agents (because that’s definitely not the case!), I’m simply saying landlords aren’t fully aware of their options, so they’re unable to make the best choice for their needs.

So, what is an ‘online letting agent’, exactly? I won’t get into deep and murky waters, because I’ve already done that over in my online letting agents guide. Everything you need to know is tucked in there.

However, what I will do, for those misplaced souls that are completely out of the loop (no judgement, but get with the times already!), is offer you a crash landing introduction…

An ‘online letting agent’ is a low cost alternative to traditional high-street letting agents. They’re able to offer much lower prices simply because their overheads are much less in comparison, and the primary reason for that is because online agents operate out of a central office. Whereas, traditional high-street agents have the burden of maintaining shop-front branches on your local high-street, which ain’t cheap at all.

In real terms, what’s the difference for landlords? If you need assistance from an online agent, your only option is to call your account manager (which is the equivalent of your local dedicated agent), email them, or use their swanky app. With high-street agents, of course, you have the option of walking into their local branch and having a face-to-face. That’s the very basic difference, there are more, but like I said, it’s covered in my online letting agents guide.

Whether an ongoing local agent is a necessity is for you to decide. In this digital age, face-to-face customer service is becoming less of a requirement, hence why the online agent model has been a blessing for so many landlords.

So, let’s talk turkey! How much cheaper are we talking? Let’s take a look…

Online property management services…

Ok, so hopefully you’ve got the jist of it all now. Essentially, you can obtain property management services from your local high-street agent (which will generally be a lot more expensive), or use an online letting agent (which will generally be a lot cheaper).

Fortunately, the online agency market is equally as competitive as the high-street market, so you’re definitely not short of options. Every time I assess the online agent market and tally up the options, there’s usually a few new ambitious players trying to grab a slice of the pie. However, to limit confusion and hours of man-hours being spent on research, I’ve hand-picked a few varying packages offered by what I consider to be the best and most reputable online agents. Each package offers slightly different features, so you can assess which is most suitable for you. Hopefully there’s something for everyone…

Property Management Services

Howsy	Rating 4.5 TrustPilot Reviews	Duration Month by month	Notes / Includes Full Management Service Dedicated property manager Rent collection service 24/7 customer service 24/7 repairs and maintenance support Inspections: one full photographic report per year Access to legal helpline Key holder service Free legal helpline Negotiate renewals on your behalf – no additional charge Compliance monitoring and automatic alerts when certificates need renewing Online platform gives you visibility over your portfolio, including overseeing repairs, statements etc. Optional Extras £149 Tenant find service (includes advertising across all of the main portals, dedicated lettings negotiator, reference & credit checks, AST arrangement). £300 for hosted viewings. Covers 30 days of unlimited viewings. £95 Professional photos for marketing Pricing & Discount explained *£41pcm price is based on one years’ fee and with the usage of the discount (which qualifies you for 30% discount). Normal price is £59pm. *£62pm for properties inside of the M25 with the usage of the discount (which qualifies you for 30% discount). Normal price is £89pm. **Sign up via this link to claim your 30% discount – mention you came from Property Investment Project.	Price *£41pmInc VATPrice shown with exclusive discount! Discount available	Visit Website**30% discount using link above!
99 Home	Rating 4.9 TrustPilot Reviews	Duration Month by month	Notes / Includes Full Management Service (Silver package) Will market your property on Rightmove, Zoopla + more. Rental valuation Viewing & Enquiry organiser Tenant referencing Contract drafting & Digital signing Deposit registration Offer negotiation Professional photos and Floorplan Property dashboard to control and check progress on your advert Inventory Legal assistance Rent collection, including chasing arrears, and issuing late payment notices as required Carbon monoxide & Smoke alarm test Optional Extras £300 hosted viewings (upto 8 groups or individuals) £99 (p/year) Rent Guarantee £99 inventory report *Includes exclusive £40 discount on setup fee: 99PIP40	Price *£39 setup fee + £45pmInc VATNormal price: £79 setup fee + £45pm Discount available	Visit Website
Letting A Property	Rating 4.9 Review Centre	Duration Month by month	Notes / Includes Complete Package Solution for Rent Collection & Guaranteed Rent, Home Emergency Cover and Legal Cover! Advert on all major property websites, including Rightmove & Zoopla Rent paid on time – paid to you on time even when the tenant doesn’t pay! Full tenant referencing (2 x people) Digital tenancy agreements Deposit secured Holding fee service Dedicated advisor Guaranteed rent Legal helpline Legal expenses Eviction support Home emergency cover Dispute resolution Free tenancy renewals Read about my fantastic Experience With Letting A Property To Find Tenants *Landlord pays one-off £149 upfront, and then £99 per month.	Price *£149 setup fee + £99pmInc VAT Promo running	Visit Website

Please note, I try my best to keep the information of each agent accurate and up-to-date, but you should read the T&C’s from the agents’ website for the most up-to-date information.

A couple of notes about the management packages above (in case your interest has piqued)…

• Yup, startlingly cheaper compared to high-street management rates, right? On average, a fully-managed management solution by a traditional high-street agent will set you back approx 12% of your rental income.
• High-street agents typically tie you into 6-12 month contracts. The online management solutions above use month-by-month rolling contracts, so you can jump ship at any point.
• LettingAProperty does NOT offer hosted viewings, so if you require someone to take viewings, they won’t be a suitable choice. Those that do offer a hosted viewing solution will typically arrange for a local estate agent to take the viewings.
• Speaking of LettingAproperty, yup, their package is more expensive compared to every other solution listed, but when you actually look into the details of what you get, it’s evident what you’re paying for! I don’t think you’ll find a more bullet-proof and robust rental management solution. Besides from the ‘home emergency cover’ and ‘legal expenses cover’, be sure to pay attention to the ‘rent on time’ feature, which means you’ll get paid rent NO MATTER WHAT, even if your tenant falls into arrears.

  If you want complete ease of mind, they might just be the solution for you.

• If you already have a tenant or don’t require a tenant-find solution (because you have other plans), but you do want someone to manage the tenancy, Howsy provide a free “takeover” service, so they’re happy to manage tenants sourced from elsewhere.

  The takeover feature was originally designed to help landlords switch from their existing letting agent to Howsy’s services, but it’s not exclusive for that purpose. But speaking of which – if you are currently using a high-street agent for a management solution and you’re paying through the nose, you can use Howsy’s switch service to assist with the transition. They’ll manage everything on your behalf.

• If you’re looking for a pure ‘rent collection’ service, then the solutions will be waaaaaaaayyyyy too comprehensive! There are much cheaper alternative rent collection services to choose from.

So, should you use an online property management solution?

I really can’t answer that for you. But here are a few of my random thoughts that may provide food for thought for those sitting on the fence…

Using online services isn’t for everyone, that much is for sure. So if you’re more comfortable with using local services because, for example, like my nan, you prefer handling your business face-to-face (with a cheque book), then I personally wouldn’t recommend using an online agent to manage your property. However, if you live far away from your rental property, and therefore wouldn’t necessarily have face-to-face interaction with your local agent anyways, then it makes sense to use an online service, in my opinion

If you do use an online solution, you may not be able to walk into a local branch, but you’ll definitely be able to pick up the phone and talk to someone. Actually, the phone lines are generally open for a lot longer (in some cases, 24 hours), so online agents provide longer customer support hours for both landlords and tenants (i.e. to report any maintenance issues or emergencies)!

Yes, the difference in cost between an online solution and the high-street is gigantic, and unsurprisingly, it’s the tipping point for the majority of landlords! For the last decade I’ve only used online letting solutions, not just because of how much cheaper they are, but also because they actually work! I haven’t looked back once, other than to acknowledge how much money I wasted, since ditching the traditional high-street solutions.

My final point, and it’s something I already touched on, but to reiterate, I just want to say that most online management packages (or at least, the one’s listed above), operate on a month-by-month contract, so even if you’re not happy with the service they provide, you can quickly and easily cease your contract. Hell, you could even go back to a local high-street agent if that’s what you want. The point is, you’re not tied into any painstaking contracts.

So there we have it. Shall we tie this up? Let’s…

Whether an online letting agent can provide the property management solution suitable for your needs is for you to decide, but hopefully I’ve, at the very least, made you aware of another option.

If you have any questions, or if you’re kind enough to share your experience (or expertise) on the issue of property management services (online or otherwise), please leave a comment below…