Managing a building, residential or commercial, can be a lot of work. You’ll have to stay on top of all financial matters, dealing with tenants, safety and maintenance, and everything else in between. You may have another job or other businesses to attend to, plus a family to take care of. 24 hours may not be enough for your day.
Perhaps it’s time for you to look for an agent who offers property management in Belgravia who can carry some of that load for you. Here are four ways to find out.
1. Where is your property located?
If your building is just five minutes away from where you live or in the same area as your other place of business, then you’ll have enough time to stop over and do maintenance checks and see if everything’s in place. If it takes time for you to get to it, that’s additional expense. How long will this be feasible for you?
2. How are your finances going with regard to this property?
Are you able to stay on top of your records when it comes to your tenants, maintenance expenses, and payments? Has there been a time when your ledgers didn’t balance out? This can cause problems when tax season comes.
3. How do you handle late payments and difficult tenants?
Do have the skill of communicating bad news to people in a good way? Or do you dread having to face your tenants to collect late payment? Can you deal with rude or immature tenants especially if they’re late with their payments?
If you’re about ready to raise a white flag, remember that there’s no shame in asking for help. Remember to do your research once you decide to hire an agent and make sure they can be trusted. Then you can spend more time with the most important things in your life.