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Property management companies:
Vital_Spark_2
Posts: 349 Forumite
Do any of you know about renting out property in Edinburgh using a property management company such as Broughton Property Management?
What are the owners' legal rights where the property management company are concerned , if, for instance:
1) the company neglected to take the entire deposit from the tennant;
2) were not collecting the rent then didn't advise the owner but merely didn't pay the rent into the owners' bank account; (owner was under the impression that the property management company paid the rent to them, regardless of whether or not the collected it from the tennant, and they then went on to recoup it from said tennant)
3) the tennant proves to be a "bad tennant" and the property management company don't take measures to evict them, etc????
What are the owners' legal rights where the property management company are concerned , if, for instance:
1) the company neglected to take the entire deposit from the tennant;
2) were not collecting the rent then didn't advise the owner but merely didn't pay the rent into the owners' bank account; (owner was under the impression that the property management company paid the rent to them, regardless of whether or not the collected it from the tennant, and they then went on to recoup it from said tennant)
3) the tennant proves to be a "bad tennant" and the property management company don't take measures to evict them, etc????
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Comments
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Vital_Spark wrote:Do any of you know about renting out property in Edinburgh using a property management company such as Broughton Property Management?
What are the owners' legal rights where the property management company are concerned , if, for instance:
1) the company neglected to take the entire deposit from the tennant;
2) were not collecting the rent then didn't advise the owner but merely didn't pay the rent into the owners' bank account; (owner was under the impression that the property management company paid the rent to them, regardless of whether or not the collected it from the tennant, and they then went on to recoup it from said tennant)
3) the tennant proves to be a "bad tennant" and the property management company don't take measures to evict them, etc????
Most of the answers depend on what the details of the agreement is between the owner/landlord and the letting agent. Item 2) is rarely true unless covered by an insurance type guarantee. Item 3) may be down to the owner/landlord giving direction to the letting agent. IMHO most letting agents are good at selling their deals to landlords, good at selling properties to tenants and know "delta x" (I was going to say something rude) of what to do when the tenancy goes wrong.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Thank you for this Bob. I suppose they are primarily and maybe even soley interested in their profit margins. Landlords may be easy come easy go.
I'll pass your response on to my son and his girlfriend.0
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