A fully managed letting in the UK refers to a property management service provided by a letting agent or property management company. In a fully managed letting, the agent takes care of all aspects of the tenancy on behalf of the landlord, including advertising the property, finding suitable tenants, carrying out credit and reference checks, preparing tenancy agreements, collecting rent and security deposits, and dealing with any maintenance or repair issues that arise during the tenancy.
With a fully managed letting, the landlord can benefit from a stress-free rental experience, as they do not need to be involved in the day-to-day management of the property. The letting agent will handle all tenant enquiries and concerns, ensuring that any issues are resolved quickly and efficiently.
In addition, a fully managed letting can provide landlords with peace of mind that their property is being well looked after. The agent will carry out regular property inspections to check that the property is being kept in good condition, and will arrange for any necessary repairs or maintenance work to be carried out promptly.
Fully managed lettings can be particularly useful for landlords who do not live in the local area or who do not have the time or expertise to manage their properties themselves. By outsourcing the management of their properties to a professional agent, they can ensure that their properties are being well looked after and that their rental income is being maximized.
However, it is important to note that fully managed lettings are not free, and landlords can expect to pay a management fee to their letting agent for their services. This fee will typically be a percentage of the rental income, and may also include additional charges for services such as property inspections or arranging repairs.
Overall, a fully managed letting can be a convenient and hassle-free way for landlords to rent out their properties in the UK. By entrusting the management of their properties to a professional letting agent, they can benefit from a stress-free rental experience and enjoy a steady stream of rental income without having to deal with the day-to-day management of their properties themselves.
If you’re considering letting your property, or are interested in exploring a fully managed service get in touch to see how Bridges can help you to get the best return on your investment.
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