Typically, hands-off property investment works by an investor finding a rental management company to manage their new or existing property. Or, in the case of off-plan investment, the development itself may already have an allocated management company that oversees the project. Developments from Legacie Developments, for instance, are managed by Legacie Lettings.
After the investor purchases their property, the rental management company will oversee every aspect of running and maintaining a rental property, including screening tenants, dealing with tenant queries or complaints, responding to maintenance or repairs for the property, and collecting rental payments.
Meanwhile, the investor will pay a fee to the rental management company, and in return, have more free time to spend on their day job, building their portfolio, or simply enjoying their investment income!