propertybanana
26-05-2006, 11:30 AM
My elderly widowed mother has inherited a couple of shops which are tenanted and as she is not able to manage the tenants etc herself I am looking into the likely cost of employing a professional property manager to run it for her.
Can anyone give us some indication of the likely costs? Do commercial property managers charge a percentage or a set fee? We would need full management including rent collection and setting as a review of rent is long overdue. There may also be some complications regarding what we suspect is an unofficial sub let which would need to be cleared up.
Alternatively we are considering whether selling up might be a more practical solution.
We are based in South Wales - the Swansea area.
We don't have time or the skills to deal with this for her unfortunately. Would a commercial agent handle the logistics of a sale for us? There is some complication with the Land registry as well. Any idea how much that might cost to sort out?
Any help would be much appreciated.
Can anyone give us some indication of the likely costs? Do commercial property managers charge a percentage or a set fee? We would need full management including rent collection and setting as a review of rent is long overdue. There may also be some complications regarding what we suspect is an unofficial sub let which would need to be cleared up.
Alternatively we are considering whether selling up might be a more practical solution.
We are based in South Wales - the Swansea area.
We don't have time or the skills to deal with this for her unfortunately. Would a commercial agent handle the logistics of a sale for us? There is some complication with the Land registry as well. Any idea how much that might cost to sort out?
Any help would be much appreciated.