Seven Steps to Landlord Success in just 60 seconds
Below is a seven-step guide for landlords to help make renting their property a success.
1) Get Valuations
So, you have a property to rent? We suggest calling in three different agencies to compare prices, people and approach.
2) Service level
Decide which level of service you want from a Letting Agent that best suits your needs. If you are a first time Landlord I always recommend a full management service, there are far too many pieces of legislation that can catch you out and leave you exposed to hefty fine's. If you have been a Landlord for years and are up to date with the 170 plus pieces of legislation and want to manage the property day to day on your own the best service would be Rent Collect, where the Letting Agent sets the tenancy up legally at the beginning and collects the rent monthly and can then deal with those awkward conversation with the tenants.
3) Choosing an Agent
Look for experience, integrity and proven success. Always trust your gut on this decision and go with who you feel will the best job for you and look after your property, not just achieve the highest rent.
4) Marketing Matters
How and where your property is marketed contributes greatly to its success. Ask where your property will be advertised in order to reach as may potential tenants as possible.
5) Presentation, presentation, presentation
If you want to attract quality tenants at the best price it’s imperative that your property is clean, well maintained and nicely presented.
Once quality tenants have been found and the rental price agreed obtaining references, checking right to rent status and arranging the Tenancy will commence. If you pick a rent collection/full management service the agent will do this for you.
7) Moving Day
Once the tenancy has been set up and moving day has arrived, the keys are handed to the tenants and the tenancy commences.
Thanks for reading and if you have any other property related questions please don’t hesitate to get in touch with us – we’d love to help you.