Being a landlord can offer real financial benefits, but managing tenants can be daunting. Our property management services cover The City, E14 and Canary Wharf, and will take the hard work out of the process, from collecting rent to dealing with issues.
There are many prospective tenants searching for rental properties in Canary Wharf. This presents a real opportunity for landlords, especially if you work with a good property management company.
Proper Local are based in the heart of the E14 postcode, and have expert knowledge of the area. This, combined with our comprehensive management services, ensures you’re supported every step of the way.
Our agents act as the point of contact for your tenants, among other things. It’s our job to make your landlord experience as smooth and hassle-free as possible. We’re here whenever you need us, and we’ll always keep you in the loop.
Here’s some frequently asked questions.
What does your property management service include?
Our service is comprehensive, covering all the major responsibilities involved with managing a rented property. Proper Local collect rent on your behalf, and protect your tenants’ deposit (in accordance with the law). We also inspect the property, and deal with any maintenance issues if they arise.
We act as your tenants’ point of contact. Rather than calling you to report an issue or ask a question, they’ll get in touch with us instead. We’ll only bring the issue to you if the situation requires it – otherwise, we’ll handle everything on your behalf. If you’d like to find out more about our property management service, call our team on 020 3282 3733.
Who deals with tenancy check-ins /check-outs, and the deposit?
We carry out check-ins as part of the management package, and ensure that everything is done in a professional, responsible manner. The initial Inventory and Schedule of Condition is undertaken via a specialist inventory company, and completed to the highest standard. We also handle the check-out process at the end of the tenancy.
The law has specific requirements regarding tenant deposits. We’ll make sure the deposit is protected appropriately during the tenancy, and we also handle the deposit return – making fair deductions if necessary, after receiving your input.
How much does property management cost?
We think it’s fairer to charge a fixed fee, rather than a percentage. That way, you know exactly what to pay each year, without any unwanted surprises or hidden fees. The fee is based on the size of the property, and is as follows:
- One bedroomed apartment / studio / house - £1,000 a year
- Two bedroomed apartment / house - £1,200 a year
- Three bedroomed apartment / house - £1,320 a year
- Four bedroomed apartment / house - £1,440 a year
The fee is deducted on a monthly pro-rata basis from your rental income. This spreads the expenses; for example, a two-bedroomed property would cost £100 a month, which won’t be too much of your overall rental income.
Do I really need property management?
A property management service is designed to take the stress out of the process. It’s not a necessity (some landlords choose to handle everything by themselves), but it certainly makes the task a lot easier. If you’re short on time, or simply don’t want the hassle of dealing with tenant issues, collecting rent, or arranging inventories, then it’s a good option for you.
Our property management service has been designed with convenience in mind. We see it as our job to make your landlord experience as positive as possible – letting you enjoy the rewards, without taking on too much of the hard work.
When will I need to be involved?
Emergency issues may arise from time to time. Rest assured, if we can deal with it without your involvement, we will. It’s our task to minimise disruption to your life, and take on the burden of problematic situations ourselves.
However, if you’d like to have a more active role, that’s not a problem. We’ll tailor the service to suit your needs, and if you want to be more or less involved as time goes on, we’ll adjust our approach accordingly.
What happens when tenants don’t pay the rent?
We tackle this issue head-on, right from the start. It all begins with vetting tenants and obtaining references; services we carry out via an independent referencing agency. We’ll give you an honest appraisal of whether the tenant is suitable or not – though obviously, the final decision lies with you. We’ve also got a system in place to chase up payments and resolve issues as swiftly as possible.
However, we should emphasise that in our years of trading, we’ve only ever had one tenant with rent payment issues (and this was a tenant that we’d recommended against, but the landlord agreed their tenancy anyway). In short – it seldom happens under our watchful eye, but in the rare instance it does, we’re ready to take action.