What are the advantages of delegating the rental management of your property?
Rental property management, also known as rental intermediation, is when you entrust the administration of your property to a management agent. Owners and landlords typically make use of this practice when they rent out their apartments in Paris. As such it comes with many benefits.
Apart from saving time and energy, property owners/landlords also benefit from the agent's real estate expertise and legal knowledge. This then allows the property to be kept up to standard in light of legislative changes (in real estate) and to avoid financial risks.
What is rental management ?
Before getting into its benefits, it pays to have a general overview of what rental management is all about. As mentioned earlier, rental management is when a property owner entrusts the administration of their real estate to a professional managing agent.
Firstly, both the owner and agent enter into an official agreement, also known as the management mandate. This will serve as a legal contract authorizing a real estate professional to manage the property. And the document should precisely detail the tasks that come with rental property management, including:
Firstly, both the owner and agent enter into an official agreement, also known as the management mandate. This will serve as a legal contract authorizing a real estate professional to manage the property. And the document should precisely detail the tasks that come with rental property management, including:
- Estimating the price of rent
- Key delivery and recovery
- Drafting and sending rental receipts
- Carry out The Technical Diagnostics
- Management of emergencies and common problems related to the apartment (i.e. disasters, equipment breakdown, work, etc.);
- Write the real estate ad (i.e. drafting the advertisement, taking pictures of the property, publishing the ad on property listing websites. etc.)
- Organize visits (i.e. receiving and guiding potential tenant candidates)
- Drafting the rental agreement
- Conducting mandatory inventory (for furnished rentals).
- Taking charge of necessary repairs and renovations.
- Settle calls for funds and damages (if the property is co-owned).
How does rental management work?
Different stages are established during a rental management.
A management mandate will have to be set up with the property manager of the real estate agency.
The management mandate is a contract authorizing a real estate professional to manage the real estate assets. This contract mentions all the tasks and describes precisely the real estate assets:
If your home is located in co-ownership, the agent can also settle calls for funds and charges.
Namely :
> Some agents also offer support in the tax declaration of rental income.
> A1 Real Estate takes into account all the provisions, and guarantees, in order to carefully choose the best files and profiles. These files are eligible with guarantee organizations, rental guarantors such as our partner garantme.fr, in order to eliminate any risk of non-payment.
> The remuneration of the agent is negotiated between the principal and the agent and is freely determined. Generally, this varies between 5 and 8% TTC of the sums collected.
The terms of the rental management mandate are agreed between the landlord and the property manager and mention the basic rules:
A management mandate will have to be set up with the property manager of the real estate agency.
The management mandate is a contract authorizing a real estate professional to manage the real estate assets. This contract mentions all the tasks and describes precisely the real estate assets:
- Estimate the amount of rent
- Key delivery and recovery
- Drafting and sending rent receipts
- Management of emergencies and common problems related to the apartment (disasters, equipment breakdown, work, etc.);
- Write the real estate ad
- Organize visits
- Drafting the rental agreement
- The establishment of the inventory of fixtures of entry and the inventory of fixtures of exit of the dwelling
- Carry out real estate diagnostics
- Rent management
If your home is located in co-ownership, the agent can also settle calls for funds and charges.
Namely :
> Some agents also offer support in the tax declaration of rental income.
> A1 Real Estate takes into account all the provisions, and guarantees, in order to carefully choose the best files and profiles. These files are eligible with guarantee organizations, rental guarantors such as our partner garantme.fr, in order to eliminate any risk of non-payment.
> The remuneration of the agent is negotiated between the principal and the agent and is freely determined. Generally, this varies between 5 and 8% TTC of the sums collected.
The terms of the rental management mandate are agreed between the landlord and the property manager and mention the basic rules:
- A rental management mandate cannot exceed a period of 30 years.
- The remuneration of the agent is mentioned on the mandate (percentage of rents and provisions actually received, excluding security deposit).
- The agent receives rental fees according to the legislation in force.
What are the advantages of delegating the management of your furnished apartment?
There are four main benefits to rental property management. They include:
The objective is to ensure a tenant-owner relationship will be as serene as possible.
- Better Visibility
- A Better Choice for Tenant
The objective is to ensure a tenant-owner relationship will be as serene as possible.
- Conserving Time and Energy
- Relying on Knowledge and Expertise
Ce qu’il faut retenir :
- Rental property management consists of entrusting the administration of your property to a management agent, a practice that relieves landlords of tasks related to the rental process.
- A management mandate will have to be set up between the owner and the property manager of the real estate agency. This contract authorizes a real estate professional to manage the property and mentions all the tasks that need to be done.
- The main benefits of rental management include better visibility, ending up with a good tenant, saving time & energy, and relying on professional knowledge and expertise.
Thanks to our expertise and experience in furnished rentals in Paris, we here at A1 Real Estate can intervene at every stage of the rental process and property management. We can take charge of problem-solving, forming a relationship with the tenant, ensuring customer satisfaction, relations with the condominium, administrative tasks, collecting rent payments, cleaning, maintenance, small repairs, and even major works via our professional partners.
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Posted on 10/03/2023 by
Andy LECUYER
