What is property management?

May 10th 2023
Someone pointing at a clipboard with a house floorplan and pair of keys beneath

As the name would suggest, property management is when a third party such as an estate agency manages your rental property on your behalf. What this management involves can depend on both the needs of the landlord and what the agency has to offer.

Here at Lawlors, we know every landlord has a different reason for letting a property and different needs from a letting agent. That’s why we provide a range of flexible landlord services to meet your needs.

Our three service options are Tenant Find, Rent Collection and Fully Managed. While they have overlapping services, the three have different fee levels and varying amounts of involvement from the property management team.

Tenant Find

At the Tenant Find service level, the Property Management team is partly involved in the pre-tenancy process related to marketing and contracts, but takes a step back during the actual tenancy.

Services offered as part of this level include:

  • Provide free valuation and suggest areas of improvement to maximise income
  • Upload your property to our website and major property websites including Rightmove and Zoopla
  • Full tenant referencing
  • Preparation of the tenancy agreement

Rent Collection

With Rent Collection the Property Management team is fully involved when finding a tenant and partially involved during the actual tenancy, but to a lesser extent than at the Fully Managed level.

As well as all of the services offered as part of Tenant Find, the Rent Collection level involves:

  • Collecting rent on a monthly basis
  • Educating, advising and implementing new legislative changes
  • Chasing late rents
  • Advising on annual rent increases

Fully Managed

At the Fully Managed level and for a slightly higher fee the Property Management team is more involved in the letting process, especially during and at the end of a tenancy.

All of the services offered as part of Tenant Find and Rent Collect are included in Fully Managed, with the addition of things such as:

  • Manage all issues of repair, maintenance and remedial work
  • Regular property visits reporting back to the landlord
  • Arrange an end of tenancy inspection and negotiate any dilapidation issues which arise
  • Service notice to regain the property, liaise with legal teams and where necessary provide court representation

For more information about our landlord services, please visit our service options page or contact our Property Management team.