What does fully managed property management include?

"Fully managed" is not a defined term, which is why two agents can use it to mean noticeably different things. Ask for the list rather than the label.

At TQ Lettings, Full Management covers everything in Tenant Find and Rent Collection, plus the ongoing running of the tenancy.

We agree the rent against evidence, arrange professional photography and a floorplan, market the property across the major portals and to our own applicant list, carry out accompanied viewings, reference the applicants and prepare the tenancy agreement.

The inventory, check-out report and deposit registration are included rather than charged as extras on this service.

The rent is demanded, collected and remitted each month with a statement. If it is late, we chase it, and if it stays late, we advise on arrears and serve the appropriate notices.

We carry out periodic visits and report back to you on the property's condition, arrange routine repairs through approved contractors, handle rent reviews where you want one, hold the keys throughout the term, and deal with the deposit at the end including any dispute.

Management is not insurance. We do not guarantee the rent (that is a separate product), and we do not pay for repairs; those are recharged to you at cost.

We also will not spend your money without asking. Repairs above an agreed threshold come to you for approval first, and the threshold is yours to set.

Landlords who live away from the property, who travel, who own more than one, or who simply would rather not be the person a tenant calls at seven on a Sunday evening.

It also suits first-time landlords, for a reason that is easy to underestimate: the first tenancy is the one where an expensive mistake is most likely, and it is the one where having someone who has done it before is worth the most.