In this property education video, Simon Zutshi, author of Property Magic, founder of property investors network (pin), and successful property investor since 1995 elaborates on the topic ‘Why I Have Property Management On All My Property Investments’, alongside answering FAQ’s regarding Understanding Property Management, such as How Do I Find a Good Letting Agent?
Simon outlines the significance of a Cost Mindset vs Value Mindset, he states how this is particularly important to consider when it comes to managing your Property Investments in the UK yourself, or getting a Letting Agent to do it.
He begins to talk through his Property Investing background and working with his first Student HMO at the start of his Property Portfolio journey. Property Management only took 2 hours of his time per month and allowed him to make £500 profit, he explains how most people begin managing their own investment property so they don’t have to pay out from their Rental Income. You should however be weary of falling into the Landlord Trap as you progress and become more involved with Rental Properties over time.
Simon runs through popular questions such as ‘What Does a Property Manager Do?’ and ‘How Do I Find A Good Letting Agent?’. As part of their Property Management Training Basics, most Letting Agents will conventionally work with BTL Properties, Simon underlines the pros of maximizing your rent using HMO Property and Serviced Accommodation instead.
If you actively book onto Property Networking Events in your area such as property investors network (pin Meetings), not only will you benefit from valuable Property Training but you can get recommendations of great UK Letting Agents to work with. Part of knowing How to Hire The Right Property Manager involves checking to see if they are associated with ARLA and ideally owning investment Property themselves.
Landlord vs Property Investor? Simon summarizes that whilst you might want to start off Managing Properties you need to appreciate what a Letting Agent Can Do For You, ultimately you definitely want someone else doing the property management for you to create more time.
