Landlord Top Tips
We've been letting properties for a long time so have learnt a lot along the way. Our essential guide gives you our top tips from years of experience. Take a look through and if you have any more questions, feel free to contact one of the team - we would be happy to help you!
Keep it clean
You set the standard by making sure the property is well presented before marketing, making the property more attractive to quality tenants, helping achieve a good level of rent, neutral decoration is the best, as it is easy to maintain.
Furnished or unfurnished
You have the choice to either rent your property furnished, unfurnished or part-furnished. The greatest demand from tenants is for unfurnished, this typically includes carpets, curtains/blinds, light fittings and white goods. If your property is furnished, make sure you are complying to the fire safety rules.
It’s a false economy to choose the cheapest letting agent, select your letting agent based on their expertise, void periods and rent arrears. Remember the lettings agents fees are tax deductible.
Be realistic about your asking price, this will allow your letting agent to generate a good level of interest and achieve the best rent from the most suitable tenant, this approach will reduce void periods.
Protect your investment
You must inform your insurance company and mortgage lender of your intention to rent, this may affect your premiums, however, failure to inform them may mean they refuse to pay any subsequent claims.
Inventory and check in
A detailed inventory is essential. The inventory must be provided to the tenant who should check, sign and return a copy to confirm their agreement of its accuracy. Without a detailed inventory, a landlord is legally in a very vulnerable position if they subsequently try and deduct money from a tenants deposit for alleged damage.
These should be left connected and your letting agent will notify the supplier of a change of occupier.
Create a handy guide for your tenants, this should include copies of manuals, details of local amenities and general information such as parking restrictions and refuse collection.
There is a growing list of legislation governing landlords, these include, gas, electrical and fire safety. Both gas and fire legislation require that all landlords adhere to strict rules when letting properties. All properties must have a valid gas safety certificate throughout the term of the tenancy. All properties with soft furnishings provided by the landlord must comply with fire safety rules.
Sole or multi agency
Work with one quality letting agent, if you instruct two or more, it could become a race to find a tenant, rather than the best tenant. Securing the best tenant that is thoroughly referenced should always be the priority.
If you would like us to value your property - just click here. With years of experience in the local area, we're ready to help you let your home!