Top Tips For Landlords
Top tips for landlords
Whilst we can’t put our hands on our hearts and guarantee you a totally stress free tenancy, we thought we would share a few tips from our Lettings Team to make your life a little easier, especially if you are new to the lettings game.
1) Be prepared for viewings
If your property is new to the market you probably don’t need telling to ensure that it should be fault free and scrupulously clean prior to any viewings. Floor plans are a great start to showcasing the house or apartment and allow the potential tenant to visualize how the property would work before they even view. One mistake that existing landlords do make is not to plan for the end of an existing tenancy by getting those niggling repairs sorted out and the place cleaned. While you should always deep clean once existing tenants have left, a clean and fresh property ready to view always scores brownie points.
2) Know your tenants
While our lettings team will run credit checks and obtain previous landlord references detailing how well they treated their previous property and whether all rents were paid on time, it is always useful to find out as much as you can about them before you take the decision to rent your property. As good quality rental properties are snapped up quickly, any extra information, which gives you more confidence in their potential ‘perfect tenant’ status, is a bonus.
3) It’s all in the paperwork
For either a tenant find only or fully managed service, making sure all of the paperwork is in order can save you a lot of trouble both during and at the end of your tenancy. From the tenancy agreement and check in inventory report, the deposit protection scheme and other required documentation, a detailed review with our lettings team will ensure that nothing is missed and that you are not exposed to any difficulties throughout the lifetime of the tenancy.
4) Maintenance and inspections
Some tenants are sticklers for reporting even the smallest problems immediately but you do have to be aware that some will not bother with dripping taps, overflowing gutters or damp in a room they rarely use. We recommend regular inspections, especially after periods of unusually bad weather when hopefully you’ll be able to spot problems before they become serious. It’s also a good idea to service the boiler at its annual gas safe inspection to head off future expensive repairs.
5) Less is best
Most tenants will expect to find ovens, fridges, dishwashers and washing machines in good quality rental properties so don’t create problems for yourself by including TVs, kettles, toasters etc. as these items tend to break easily and can even be unsafe and dangerous unless regularly inspected.
6) Insure against the worst
You never know when things might go wrong so we always recommend you get a robust landlord insurance policy, including public liability cover, so if your tenant falls down the stairs and decides to sue you won’t loose the shirt off your back. For extra piece of mind you can also take out rental guarantee insurance in case your tenant can’t or doesn’t pay the rent.
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