Investing in New Town? 6 Reasons to Work with a Property Management Company
New Town is a neighbourhood in Edinburgh known for its stunning Georgian architecture and urban planning. Built in the late 18th and early 19th centuries, it was originally an expansion of the Scottish capital, designed to accommodate the growing population of Edinburgh at the time.
Today, New Town is best known for is elegant neoclassical buildings, and spacious, rectangular blocks that make highly desirable places to live. Plus, it’s home to some of the most notable historic and cultural landmarks in Edinburgh, such as the Royal Botanic Garden and Prices Street Gardens.
Why Do Renters Choose New Town?
New Town is located right in the heart of Edinburgh, making it an attractive option for those who want to be close to the action and enjoy excellent transport links. It’s near to the central business district, making it a popular choice for young professionals in the city.
The cultural and historic landmarks in New Town mean it’s popular with both locals and tourists, making it an excellent investment choice for both short- and long-term rentals. People who live here enjoy the upscale shopping and dining scene, cultural venues, and plenty of green space.
If you’re considering New Town as an investment area, there are lots of rental properties on offer. It’s home to everything from studio flats to large family homes, with something for every investor and tenant.
How a New Town Property Management Company Can Help
Are you investing in property in New Town? When it comes to managing and making money from your New Town property, a good property management company is worth considering. Property management companies in New Town offer a wide range of worthwhile services to make things easier for you. These include:
Marketing your property is not always as easy as it might look. With a good New Town property management company, you can increase your chance of prospective tenants finding it and taking an interest. They will have access to all the best online and offline spaces to market your property, along with professional resources such as copywriters, photographers, and videographers to put together an attractive listing.
Making sure that you can trust the tenants in your property is essential. The last thing that any landlord needs is to find that the tenants in their New Town property have caused serious damage, are sub-letting without permission, or aren’t paying the rent. While it’s not always possible to completely prevent these things from happening, a New Town property management company will have access to resources designed to help you minimise the risk. Before any tenants are accepted, they will be able to run a range of checks such as background and affordability checks to help you make sure you’re renting to the right person.
Collecting rent can be a tedious job for landlords, unless you are lucky enough to have a reliable tenant who does not let you down each month. But you can’t always rely on that being the case, so it’s worth having a good New Town property management company to handle the work for you. They’ll collect rental payments and chase up any missed or late payments, so you don’t have to worry about them.
Property Maintenance and Repairs
Keeping your New Town property well-maintained and in good repair is all part and parcel of being a landlord. But it can be time-consuming, especially for landlords who work full-time, are looking after a young family or running other businesses. If this is the case for you, property management companies in New Town can take care of this aspect of things for you. They’ll be able to ensure that the property gets all regular maintenance such as professional cleaning and decorating when needed and make repairs as necessary.
Working with a property management company in New Town gives you peace of mind that your rental is compliant with all relevant laws and legislation. In the UK, laws surrounding landlords and rental properties are often changing, therefore it’s crucial to stay up to date and make any adjustments to ensure you’re not breaking the law. Some things can be easy to miss, however, and studying the latest legislation changes means taking time out of your busy day. Instead, leave it to a property management company who employs professionals dedicated to handling this side of things.
Emergencies and Urgent Situations
Most landlords have probably had a call at a really inconvenient time from a tenant who is dealing with an emergency in the property. If you don’t want to be woken up in the middle of the night because your tenant has found a serious leak or accidentally locked themselves out of the property, then let a property management company handle it instead. Many property management companies in New Town have dedicated, round-the clock teams to deal with problems such as these at any time of the night or day.
What are the Benefits of New Town Property Management for Landlords?
As a landlord, you can enjoy several personal benefits when working with a good New Town property management company. One of the main advantages is that it can be a way to increase your rental income. Property management services understand the importance of keeping your New Town property occupied, and in turn, can help you earn more in rental income.
Along with this, there’s more peace of mind. You know that your tenants have been vetted, and that the property management company is there to handle any issues that might arise from late rent payments to problems with wear and tear.
Are you a landlord in New Town? Are you struggling to get the return on investment you’d hoped for from your New Town property? At UpperKey, we’re here to help. We offer a range of services designed to take the stress off landlords like you and give you a better chance at the success you’re aiming for. Contact us today to discuss what we can do for you.