Being a landlord is far from a walk in the park, with so many things to consider. So, before you start letting out your home, here at Sandra Davidson, we thought we would give you some top tips on how to keep your tenants happy, and ultimately ensure you are a successful and profitable landlord.
Remain within the law
In the lettings industry, new legislation is being introduced all the time, and it’s incredibly vital that landlords are well-informed.
You have a responsibility towards your tenants to keep them safe, and since last October all landlords have been legally obliged to fit one smoke alarm on each floor of every property they own, as well as a carbon monoxide alarm in any room containing a solid fuel-burning appliance.
Since February it has also been mandatory for landlords to check that every prospective tenant has the Right to Rent in the UK.
These are just two of the more high profile examples of legislation which have come into force in recent times and it's due to initiatives like these that its now more important than ever to choose the right letting agent to manage your properties.
Don’t be a stranger
As well as keeping on the right side of the law when letting a property, it’s also important that you build and maintain a working relationship with your tenants.
When tenants move into your property, it’s crucial you provide them with all of the your contact details – or those of your letting agent.
However, remember not to turn up at the property unannounced – give your tenants at least 24 hours' notice if you need to visit.
Maintain, maintain, maintain
With more people renting than ever before, tenants' expectations are on the rise and this means a landlord who cares about their rental property and values its upkeep is more likely to succeed in the current market.
If a tenant alerts you to a fault with the property, the worst thing you could do is ignore it. The speed in which you address problems after they have been reported could define a tenancy and its chances of being renewed.
Fixing maintenance issues promptly will also mean that you won’t be faced with an astronomical amount of work to do should your current tenants leave and you have to get your property in order for the next ones.
Being cheap and trying to paper over the cracks won’t help either, so ensure you get in the professionals when specific skills are required.
Ultimately, being a great landlord is about being proactive, up-front and understanding.
Here at Sandra Davidson, we help to take care of the letting process for landlords, by assisting with anything from completing property maintenance to conducting all-important Right to Rent checks.
If you would like to find out more about letting property with one of Redbridge’s leading letting agents, then contact our team of property professionals today.
Alternatively, if you would like to discover how much your property could earn in monthly rents, then why not try out free rental valuation tool?