For all our rental providers out there, here are a few handy tips from us
Preparing your property
The safety of your tenants is very important, so make sure you have a Gas Safety check two years and get all electrical equipment tested once a year too. It goes without saying that your rental property should be fitted with smoke alarms throughout which will be tested yearly.
In terms of decorating and soft furnishings, keep it fresh and neutral. A well-maintained, clean property will attract good tenants.
It’s a really good idea at the start and end of each tenancy to conduct a full condition report. As your estate agents we will be able to manage this for you. It can help with any disputes that may arise when a tenant moves out. Without a condition report it would be very difficult to prove you are entitled to any of the security deposit bond in the event of damages and dilapidations.
It is important that you try to keep an open mind about your potential renters and don’t set unrealistic expectations, as this only reduces your target market. Try not to become too emotionally attached to the property either, as it is always hard to let go of a property you love – try to distance yourself from the process.
Naturally, potential renters may try and negotiate on the price. Depending on the renter’s offer, it’s worth weighing up if the price you want is worth holding out for, or if it’s better to accept it and reduce the time the property sits empty and not making money for you.
What level of service are you looking for in your agent?
You need to figure out how much involvement you want from your estate agent. Do you just want them to find you a renter or would you like them to look after the ongoing rent-collection, property management and safety checks? Of course, there is an additional cost for the agent’s ongoing involvement, but it could save you a whole lot of hassle in the long run. You shouldn’t forget that being a Rental Provider involves numerous pieces of legislation which you will need to keep up to date with if you choose to go it alone.
In choosing your agent, don’t automatically opt for the agent that offers the lowest fee. This may prove to be a false economy.
If you don’t have your own, we can organise our own cleaners and gardeners to help look after your property. This means you can retain some level of control over your property’s care and maintenance.