What's The Difference Between Lettings and Property Management?

Navigating the world of property can sometimes feel like walking through a maze. The terms "lettings" and "property management" may seem interchangeable, but they're as different as apples and oranges. Whether you're a landlord or a tenant, understanding these differences can help you avoid confusion and ensure a smooth property journey. So, let's demystify these terms together.

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Lettings Management: The Matchmaker

Think of lettings management as a matchmaker. A letting agent, hired by the property owner, plays cupid to find the perfect tenant for a property. They're the ones who put up the "For Rent" sign, sift through applications, and present the potential tenants to the landlord. The landlord then gets to say "I do" to the tenant they think is the best fit.

Once the tenant moves in, the letting agent steps back. They've done their part. Now, if the tenant needs help with repairs or has questions about renewing the lease, they'll need to reach out to the landlord directly. The letting agent's role ends with the tenant's move-in.

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Property Management: The Long-Term Companion

Property management, on the other hand, is like a long-term companion. The process starts the same way as lettings management, but the property manager stays on even after the tenant moves in. They're the go-to person for repairs, maintenance, lease renewals, rent collection, and any other issues that might crop up.

If you're a tenant and you need to discuss something about the property, make sure to put it in writing to the property manager. They'll then liaise with the landlord and get back to you. Remember, you can always reach out to the landlord directly if you're not happy with the property manager's service. By law, you have the right to know who your landlord is and how to contact them.

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Landlords: The Puppet Masters

From a tenant's perspective, it's crucial to remember that your contract is with the landlord, not the agent. Agents are like the hands of a puppet master - they act on behalf of the landlord. If the landlord chooses to have an agent manage the property, it's a service they pay for.

Agents are there to safeguard the landlord's interests. Their actions and words are all geared towards maintaining a healthy working relationship with the landlord.

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Legal Responsibilities: The Buck Stops with the Landlord

Despite the presence of an agent, the landlord is the one who's legally responsible for the property during the tenancy. They're the ones who need to ensure that they're fulfilling their legal obligations, such as:

• Protecting the tenant's deposit adequately
• Keeping the property in a liveable condition
• Meeting safety requirements like annual Gas Safety Checks, fire safety standards, and installing carbon monoxide detectors and fire alarms
• Adhering to the terms of the contract when the tenant is about to leave

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All these responsibilities should be clearly stated in the tenancy agreement. So, make sure to read it thoroughly and ask any questions before signing.

If you're a landlord in London and want to know more about our lettings or property management services, feel free to reach out to our expert lettings team at 02035381189 or email us at info@aihpg.com. We're here to help you navigate the property maze with ease.

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