5 More Things That Landlords Should Know/Do
Updated: Feb 26, 2020
Top 10 things that landlords should know/do Tip 1 - 5 is in the previous blog so please refer back to that if you haven't previously seen it. Click Here to return to our blog page. 6: Understand the downsides of letting a property as well as the benefits. Letting your property to the wrong tenant can be costly and frustrating as the eviction process can be a lengthy one. Try to maintain a professional approach to your property and think of it as a business asset. It can be difficult if it has been a family home with treasured memories. Using an agent can distance a landlord from the emotional ties and make it less stressful when things are not how you might like them to be as some people’s standards may not be as high as yours.
7: A professional tenancy agreement. This is vital as it needs to cover a wide variety of situations and be written in clear plain English as you should not revert to technical jargon that may confuse tenants. Make sure you are confident of the legal agreement you have in place with your tenants. These may need to be tested in a court of law. 8: We have strong relationships with trusted trades people. With a rental property, things break at the most inconvenient time so you need to be prepared to be called on by your tenants at any time and to be able to respond appropriately knowing that tradespeople will see you as a priority can be essential. When use our fully managed service, we manage your property and arrange for emergency repairs when needed. For non-emergency we can secure quotes on your behalf from competent, qualified and trustworthy trades people. If we wouldn’t use them on one of our properties why would we use them on one of your properties?
9: Having a proper inventory and evidence of the condition of the property at the start of the tenancy can help you get your property back in good condition or to claim for legitimate damage at the end of the tenancy. Any deposit disputed will need to have supporting evidence and follow carefully prescribed processes if they are to be successful. This takes away one more headache when renting out a property. There are changes coming to tenant deposits where deposits may be replaced by insurance policies but the jury is still out on legal points especially around other insurance product policy conditions.
10: Serve the right notices in the right way at the right time. There are many things that have to be in place or you may not be able to regain possession of your property. There are strict rules and timescales for regaining possession through the courts and it is wise to make sure you understand these when needed. It can be costly to appoint an agent once you are in trouble with your tenants. Having the reassurance of an agent to help you through the legal process can be a huge relief.
Whether you are a professional Landlord or a buy to let novice, feel free to contact us on 01953 799188 for an initial chat with no obligation as we are happy to help whenever we can.