A rental management system defines the steps that the landlord must take when the tenant arrives on the premises. In other words, it is the daily management of all the things related to the rental to ensure its smooth running. This includes, for example, carrying out repairs, collecting rents, regularizing charges, issuing receipts, etc.
Once the landlord finds his tenant, he can choose to personally manage the rental of the property that belongs to him or to entrust this task to a professional. The latter will then be responsible for all obligations related to the lease. Here are some tips to help you choose between these two options at your convenience.
Acts relating to the management of a rental
With regard to the usual management of a rental property, the duties of the manager, whether he is the true owner or a professional in rental management, are as follows:
-The collection of rents but also of charges.
-The review of the rent once a year and the regularization of charges when necessary.
-The free shipment to tenants of receipts for each rent payment.
-A tax return of the income generated by the rental. In the event that the manager neglects this obligation, he or she will be personally liable for the consequences.
-Take charge of all repairs to the property even if they are outside the scope of the rental.
-The management of damage that the home insurance taken out by the tenant does not cover.
-In the event of unpaid reminders, the manager must collect them and carry out all unpaid procedures addressed to the defaulting tenant.
-He will manage the formalities when the contract comes to an end and will ensure that all the formalities are respected: the leave of the tenant but also that of the landlord.
In the event that an owner wants to use a property administrator to manage his rented accommodation, he must sign a contract with the latter. This contract is known as the “rental management mandate”. The landlord owner will then have to pay the professional he has hired to manage his rental property. The professional will then take care of all the tasks that appear on the list of rental management deeds.
It should be noted that assigning rental management to a property manager is in no way incompatible with finding a tenant on a website. The landlord can search for his tenant. Once he has found it, he can then use the services of an asset manager.
The latter is hired by the landlord to manage the rental of his accommodation and will have as his main job to ensure the smooth running of the rental by doing everything that may be necessary.
The powers conferred by the management mandate
The property administrator is the agent of a contract, that of rental management. Consequently, he has the power to handle all the procedures that may concern or surround the field of rental management.
With regard to the general meetings of co-ownership, he will represent the landlord during the sessions.
-He will have to pay taxes, charges and services, ensuring that the deadlines set by law or custom are respected.
-He will take out insurance on the property or for rental damage and loss of rent.
-He will take care of the preparation of the elements that may allow the mandate for the preparation of tax returns.
It should be noted that the agency’s authorization is mandatory before a property manager can be given a rental management mandate. The professional must have a card that proves his aptitude and on which the mention “Real Estate Management” must imperatively appear. The tasks to be performed by the professional must also be highlighted in the management mandate.