Managing your properties, maintaining your peace of mind.
As a landlord or an owner of rental property, it is vital to maintain tight control over your investment finances and rental income.
Finance and Rent management refers to the process of efficiently overseeing and controlling the rental income of a property.
This includes the more obvious tasks such as setting rental prices and collecting rent payments but also includes other important aspects of a landlord’s responsibilities that can affect your rental income, including tasks such as managing maintenance and repairs, and ensuring that letting agreements are followed correctly.
At MMC our Finance and Rent management services provide landlords with a complete finance & rent management solution covering all the major elements of rental management including: Rental Rate Avice, Tenant Screening, Rent Collection, Record Keeping and Insurance
As part of our Finance & Rent management services MMC will conduct regular surveys of comparable properties in the current market to identify the optimal rental fees to charge on your property and maximise your income profit margins.
A major factor in successful rent management, and property investments more generally, is identifying suitable and reliable tenants in the first place. Tenants with a chequered rental history or a background consisting of irregular employment or income pose a much higher potential risk, and could even end up costing you your profits through failure to pay rent or neglect in the keeping of the property itself. As part of our service, MMC conducts a number of background checks, including credit status, employment history, and income verification to ensure you only get the right sort of people as tenants.
Monitoring rent collection is a considerable task in and of itself. Chasing up late payments or handling tenant disputes can eat into a landlord's time and resources even more significantly. With MMC’s Finance & Rent management, we shoulder the burden of managing rent payments on your behalf, continuously monitoring the status of your rental property. This includes any issues pertaining to late payments or tenants withholding payment where, in such circumstances, we will resolve any and all matters without requiring any input from you personally.
It cannot be stressed enough just how important record keeping is when it comes to rental property investments. Whilst rental income is considered passive income in the UK, at some stage, the taxman is going to require a breakdown of all your rental income and expenditure. This can be an onerous task for even a single property but can be particularly stressful for landlords or property owners with multiple properties.
Another key element of Rent & Finance management in property investments involves Risk Management strategies including Risk transfer. Risk transfer involves any method which enables you to pass financial liabilities onto a third party and the primary way this is achieved in property investments is through numerous different insurance policies. MMC will identify and procure all insurance certificates necessary to optimise your rental property investment including landlord insurance, property insurance, liability insurance and legal coverage and more including Deposit Protection Schemes.