What does rental management involve?

You can earn from renting out flats by engaging professionals who will handle contact with tenants, prepare agreements and take back flats when the tenancy ends. This is what rental management is about: it lets the owner focus solely on collecting the money in their bank account.

What does rental administration include?

Rental management is a very broad concept, so no single service connected with it can be singled out. It is no secret that, in the course of the work, the specialists are mainly tasked with contacting the tenant, settling the rent, providing the tenant with utilities and repairing any faults during the tenancy. These services are used mainly by experienced investors, who know full well that renting out a flat is never hassle-free. Beginners who rent out premises to others think they will have no trouble handling the administration, which is, however, often a mistake. Comprehensive rental management is divided into several stages. The company we choose to work with will begin with tasks that come before the tenancy even starts, that is, it will prepare, among other things, the rental listing for the flat. It will also take care of day-to-day management, contact with tenants, signing agreements, settlements with utility providers and monitoring of amounts due. It must not be forgotten that fixing faults is also the rental manager's duty.

Who is rental management a good choice for?

Managing a rental on your own involves a wide range of work and demanding tasks that often take up a lot of time. No wonder, then, that so many people decide to use the services of an external company. Rental management by a specialist lets the investor and owner save time, reduce the risk of possible problems connected with, among other things, badly worded agreements, and also avoid a great deal of stress. Rental management will therefore suit beginners as well as experienced investors. It works particularly well when the property is a long way from where the owner lives.

The cost of rental management

Contrary to appearances, a rental management service does not have to be expensive at all. For many people the very thought of hiring someone responsible for dealing with the tenant seems out of reach. In reality, however, the costs are not high; rates are most often set as a percentage, roughly 8 to 11 per cent of the rent. It can be illustrated simply: if the tenant pays about 3 thousand PLN, the cost of external rental management will be about 300 PLN. As you can see, that is not much, and the amount falls in direct proportion to the rent. Managing a studio flat will cost just 120-150 PLN! So is rental management worth it? A lot depends on your individual approach; we think it is!