A hole in the side of the house

I may have been a little quiet on the blog recently, but it hasn't been at all quiet in our house!

We are currently carrying out a project which we have been planning for a long time - we are adding an orangery extension. We've been half thinking about it since we moved in, and so we never did any other work to the house in case it would turn out to be a waste of time and money. 

Finally at the beginning of the year we started to plan more seriously and began to put some ideas together. We had to wait for it to go through planning permission because we are joining to the garage, but fortunately it was accepted with no problems. 

It's the first time that we've been involved in a project like this and we haven't really known what to expect. We've been watching time lapse videos of similar projects on YouTube to get a feel for the order in which things will happen. This also inspired my husband to buy his own time lapse camera to record the progress which is fantastic to watch back and I'll definitely be sharing it when it's all done!

It seemed to take a while to really get going - we had problems with unexpected pipes in the wrong places and then the weather was atrocious. For a long time all we had to look at was a muddy back garden full of holes. But then the beautiful red brick walls went up, and this week the wooden structure is being built, and that has really given us a feel for how it's going to look. 

Currently most of the back of the house is missing, with wooden boards and tarpaulin the only protection from the elements. It was fine at first, but as the weather has got colder and windier it has felt a little bit as though I'm preparing food outdoors! Luckily the front of the house has escaped unscathed so we have the living room to retreat to, and we've not suffered at all with any dust or mess.

We are a couple of weeks away from having a sealed structure, and then the work will move indoors with plastering, tiling and a new kitchen. It should all be complete well before the end of the year, and I'm really looking forward to a Christmas at home with a new kitchen to cook in and stars to gaze at through the ceiling!

The pros and cons of using a property management company

This is a collaborative post

Buying a second property and renting it out can be a great idea if you've got spare cash you're looking to invest and want to create a nest egg for the future. Many new landlords though worry about the responsibility that comes with having tenants and choose to use a property management company instead to manage the day-to-day work that comes with being a landlord such as keeping on top of repairs and inspections.

In their article, we'll look at some of the pros and cons of using a property management company versus doing it yourself to help you decide which might be the right option for you.

Photo credit Jakub Żerdzicki via Unsplash

The pros of hiring property managers

Time-saving

Let’s face it, managing rental properties is a time-consuming task - it's one of those jobs that ends up taking up way more of your time than you bargained for, especially if you have issues such as unreliable tenants, tenants leaving unexpectedly or emergency maintenance issues. 

Expertise and experience

Property management companies have a wealth of experience and specialised knowledge and if you're a new landlord it might be safest from a legal perspective to hand this over to someone in the know. They'll know the ins and outs of tenant laws, and the rules around selling properties with tenants and will have established relationships with trusted contractors. 

Help to find reliable tenants

Finding reliable tenants is one of the biggest challenges for landlords, so property management companies have robust screening processes to ensure you get quality tenants who pay rent on time and take good care of your property. They also handle tenant relations, so you won’t have to deal with complaints or disputes directly.

The cons of hiring property managers

The cost

A property management company will normally charge you either a fixed fee, a percentage of the rent, or a mix of both, and if you're close to break even as it is then this could be prohibitive. You've still got to factor in tax on your rental income and repair costs, so for some landlords, especially those with a single property, this extra expense might outweigh the benefits.

Photo credit Alexandra Gorn via Unsplash

Loss of control

When you hire a property management company, you’re entrusting them with the day-to-day operations of your property. This means you’ll have less direct control over decisions and tenant interactions, meaning it's not the ideal choice for people who find it hard to delegate decision-making.

Variable quality

Unfortunately, not all property management companies are created equal and the quality of service can vary hugely between different companies. One of the best ways to choose an agency to work with is via a personal recommendation from someone you trust who has direct experience working with them in a professional capacity. 

Deciding whether or not using a property management company is the right decision for you will depend on lots of factors, including your level of experience, the amount of time you have available and how much you can afford to give away from your monthly rental income. We hope this has given you a starting point though to help you make the right choice for you.