Rental management: What landlords need to know to make the right choice
Upon acquisition of housing for rental to the owner arises the question of whether to take the rental management of the property or give it to a professional. Rental management of mission property includes intermediate looking for a creditworthy tenant, drafting of the lease, the payment of expenses condominium building’s trustee, sending the notice to the tenant to the owner. Paid service, rental management by a professional cost to the owner lessor average between 8% and 15% of annual rents of duty or assigned housing. Advantages and disadvantages of “homemade” – manage yourself – if necessary with the help of software, and the choice of rental management entrusted to your care by paid professional.
You own or will buy an apartment or house that you intend to hire. However. Finding the right tenant, assume the rental management of your property every day seems a major concern, consuming, absorbing in terms of time, do you think, requires legal knowledge, fiscal and financial.
The simplest solution would be to entrust the rental property management to a professional who would be responsible for everything, for a fee of course.
Not sure yet that the rental management fee is the only alternative that is worth. Do not rush to decide. First Quench your anxieties and doubts not forgetting that millions of “small” owners manage their own rental housing, including those who have several.
Quickly balance with two columns, one for the benefits, the other for the inconvenience, choose the solution that provides the most benefits based on your personal, professional, financial and family.
Do not forget that IT simplifies the rental management by individuals through rental management software, simple, efficient and not necessarily expensive. Best websites like gerancecenter.com allow to benefit from a full service rental management with, for example, automatic shipments tenant receipts, maturity notice, reminders, fillers regularization letters, request for home insurance certificate . for a small fee (7.50 euros per month in Gerance Center)
The issue of rental management also arises the shops walls owners and other business premises. Again, you can manage yourself by helping you software commercially or interning site specializes in helping to rental management online.
Rental management totally free or almost
Contrary to false popular belief, the rental management of a home (not to be confused with the mission of the trustee of a much more complicated building) is not so complex even for not specialist of property thing .
Manage your own or your rental housing has the advantage of totally free. By making yourself tracking the rental, you will quickly know any small tiles that may fall.
In direct relation with the tenant, you will have real-time information concerning the rental management of the leased property such as unpaid rent, the need for the work or repairs that rental right places at the lessor, any nuisance caused by your tenant or otherwise disorders enjoyment he suffers from other residents of the building. Assume you own rental management of your leased property needs of small features within the reach of everyone, have order and carefully classify everything about leased property, including deeds, contracts, bills, notes trustee letters sent and received.
For a successful rental management, do not be a follower of procrastination, you know this tendency to procrastinate. In terms of rental management, delay and indecision are not forgiven.
The best solution, one that combines simplicity, efficiency, safety and low-cost, probably the one that is to manage yourself using the services of a dedicated website (see above).
Manage yourself well not forbidden to hire a professional ad hoc basis. You can only entrust a real estate professional search and selection of the tenant.
It will ensure the reality of the prospective tenant income, and proceed with other checks as part of what allows the 89-462 law on tenancy relationships. In addition to the rental management software in the form of “a while” offering printable acts and contracts, there are also paper in specialist bookshops loan forms for use, including residential leases conform to the laws and regulations .
Rental management card for the professional
After careful consideration, it appears that, for lack of time or motivation, rental management of your property does not delight you more than that. No problem, just find a serious and competent professional who is willing to do things for you, upon payment of fees. Not anyone and no matter how. Indeed, under the law Hoguet (recently modified) on the exercise of real estate activities, professional wishing to rental management must hold a professional license issued by the Chamber of Commerce and Industry -CCI- (formerly the Prefecture) mark it “property Management”. The professional must have a financial guarantee to compensate customers if his failing business and a liability insurance which will cover the consequences of his mistakes, negligence and other pearls.
Ask him a certificate stating that it is the date of payment of contributions from the financial guarantee company and liability insurance. For it may be in order when issuing his business card and subsequently stop being increasingly setting does his contributions. This is not a primary hypothesis, this sometimes occurs.
Preferably choose a professional based near your places of life, home or work. The distance becomes a source of complication when relationships go bad or worse.
In real estate professionals, as in all professions, there are serious people and others much less. Run your mouth to the ear to find the professional you need. Remember that you engage your wealth by giving the rental management of the property to a third party.
Negotiate rental management mandate
Having researched the good professional, you will sign a contract with a mandate in legal jargon, responding to articles 1984 to 2010 of the Civil Code, as well as Hoguet Law No. 70-9 and its implementing decree No. 72-678. In practice, professionals use property management mandates which are pre-formulated clauses they complete at the time of signing. Open the eye and the right to read everything, scrutinizing everything to clear head home.
When in doubt, do not you abstain, ask the professional about that bothers you, so check with another source the veracity of his explanation. In addition to the mandatory information, the precise rental management mandate the extent of the missions you hear entrust professional or limited to certain usual administrative acts, is very comprehensive including any rental management. The eternal contract does not exist in French law, the mandate of property management is concluded for a specified period, usually one year, renewable by tacit agreement automatically without the intervention of the parties. So you can end (terminate) the mandate of property management at each anniversary date, respecting the notice therein mentioned, and unfortunately without doubt paying a termination fee.
It can not be too advise you not to accept this clause providing you charge termination fees.
The fixed term property management remuneration property manager. It takes an average of between 8% and 15% of annual rents excluding taxes, plus your responsibility mandatory 20% for VAT. Dear, dear! It is not finished. More surprisingly, the professional responsible for property management of your property also applies the same fees on the work in housing.
Warning. Delegate rental management to a professional is not insurance. Do not let go the bridle, keep an eye on, and react to the slightest delay or negligence. If he is very greedy or casual in achieving its tasks, leave it but respecting the manner specified in the terms of rental management.