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Iceni Magazine | May 30, 2024

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Which Professionals Should You Be Relying On In Property Development?

Which Professionals Should You Be Relying On In Property Development?

Investing in property development is about who you know, as much as what you know. In particular, you want to make sure that you have the right team of professionals to help you get the very best out of your properties.

Here, we’re going to look at some of the professionals you should have in your contact book to ensure that you’re able to take on the development challenges that you want.

Your architects

If you are building or extending any existing properties, then you want to make sure that you have those who can help you create the properties that will make the hottest landings in the market. Home project architects are the best fit for any residential project, so take the time to look through their works and see which you like most.

Your contractors

Architects and engineers do the bulk of the planning, but in order to see those jobs carried out, you’re going to need contractors. Whether this means assembling a team of contractors and acting as the project manager yourself, or it means hiring a head contractor and letting them manage a team of sub-contractors with a set scope and budget depends on how much work you want to put in, and how much you trust the professional whose hands you leave it in.

Your suppliers

If you choose a head contractor, you may well be relying on their supplier contacts, but you can build your own, as well. Aside from building materials and equipment, consider the construction essentials like scaffolding that can play vital roles in helping your team do their job. Build up your own contact book of reliable suppliers over the years, and you can be sure that you can trust the resources and materials you work with.

Your legal squad

There can be a lot of red tape that can get in the way of your property development plans, and real estate lawyers are going to play a big role in helping you navigate around and cut through them. This can include making sure that projects adhere to any zoning laws in the area, as well as getting planning permission where it is applicable. Basically, they can make sure that no nasty legal surprises pop up and put an early end to your work.

Your property managers

When it comes to ensuring the long-term success of your property, few have a bigger role to play than property managers. For rental properties, you can delegate to them much of the day-to-day work of keeping tenants in, responding to their concerns, maintaining the property, and otherwise. Of course, many property owners do take on these responsibilities the same. It’s very much a trade-off between increased profits and more free time. If you do decide to go with a property management company to handle everything, make sure you check them out thoroughly before deciding so you know that you have gone with the people you deem the best fit.

Property remains one of the most valuable assets to develop, with the market becoming more and more competitive as more landlords and rental agencies snap up what’s on the market. Knowing the right professionals can help you take advantage of the opportunities which creates a lot more flexibility.

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