The Secret Ingredients of a Sales or Lettings Property Management Pack
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- Category: Sales & Lettings
You often hear of these with a residential sale or letting – a ‘management pack’, or sometimes ‘lettings pack’ being needed.
In short, it’s a set pack of information about a property that any proposed new owner or tenant wants in order to gain a better understanding of issues at a property. Almost a form of MOT, as with a car, to find out if a property has a clean bill of health.
Alternatively you can have Replies to Enquiries which are on a similar line of requesting information, but more of a questionnaire that the seller or landlord completes.
The packs are more ready-made, and therefore arguably easier to issue. Hence the frustration by some at the perceived high costs of these, sometimes hundreds of pounds for what appears to be a...
Asset management is very much linked with core property management, and is to do with the bigger-picture property asset and how it can be managed and worked in order to become a more valuable and desirable asset. This benefits from lots of day-to-day core property management tasks like rent collection, compliance and maintenance, and effective service charges in order to keep costs down, tenants happily in occupation, and rents and values up.
From 1st February 2016 there was a notable change for all private residential landlords in the UK and what ‘checks’ they need to make on new tenants, with 