Handy Tips for Landlords

Helpful tips for LL

In preparation of becoming a landlord, there are a number of things you need to consider to make sure that you are preparing your property effectively and to be ‘tenant ready’.

We have created some handy tips for you to guide you through these exciting times.

 

  • Do your calculations. Make sure you consider the upfront costs of letting your property as well as giving consideration to any void periods in between tenancies. As a general guide, we would recommend calculating an income over a 10 month period but this is guidance only and it is important that you investigate all cost implications before proceeding.
  • If the property you intend letting is mortgaged, you must first apply to your lender for permission to let as you may be in breach of your mortgage agreement if you don’t. It is also advisable to check that your insurance company are aware of your intentions to let the property.
  • Find a letting agent that is accredited through a professional body like NALS, SAFEagent, and TPO  to make sure that they are an independent complaints scheme member and offer client money protection.
  • Don’t cut corners; it’s really not worth it. Quality repairs and workmanship that you can rely on is a more cost effective way forward.
  • Remember that this is your investment, but it is a tenant’s home and a happy tenant will usually remain in the property longer term.
  • Try not to become too emotionally attached to the property – distance yourself from the process. This can be difficult if you have invested time and effort into refurbishing the property to its current standard but you need to try to keep a relatively open mind about your potential tenants and don’t set unrealistic expectations, as this only reduces your target market.
  • In terms of decorating and soft furnishings, keep it fresh and neutral. We recommend a thorough clean every two years and a fresh lick of paint if possible. A well-maintained, clean property will attract good tenants.
  • Decide whether you want to let the property furnished or unfurnished.
  • Safety – The safety of your tenants is very important so make sure you understand your responsibilities as a landlord. Some requirements are statutory requirements and some are recommendations.
  • Decide whether you want us to manage your property for you on our Full Management service or if you would prefer to manage the property yourself on our Letting Only Service. Whilst there is a cost implication for our services, if you are inexperienced, busy or wanting to reside abroad, it could save you a lot of time, money and effort in the long run.
  • Have a clear understanding of your lease if applicable so that you are not breaching conditions of the lease.
  • Speak to your neighbours if you are able to; some neighbours can be resistant to let properties but if they are informed they can often be a good advocate for you.

  • Stuarts Property Services
    Reviewed from Google

    4.8 out of 5 stars

    S Agaoglu
    S Agaoglu

    5 out of 5 stars

    posted 2 months ago

    Stuarts offer the most efficient service I have experienced by far, but with an added personal touch. They are a close team and this produces excellent results in terms of clear communication and process. They are also just warm and kind individuals who go out of their way to make your life easier. I'll always be grateful for them taking the stress out of my move. I would never go anywhere else!

    Syed Hassan
    Syed Hassan

    5 out of 5 stars

    posted 2 months ago

    We moved to U.K in 2015 and it was our first rented property. The whole process was carried out in friendly and smooth way. We rented the property for more than 2 yrs and we were facilitated and dealt in very effective, efficient and professional way. Unfortunately land lord decided to sale the property so we have to find a new place. The move out process is as smooth and clearly communicated as the move in was. We would certainly recommend Stuart properties and would love to seek their assistance in future. Special thanks to Colin and his team who were always there for us. Warm personal regards from our family!

    Jenna Heininen
    Jenna Heininen

    5 out of 5 stars

    posted 1 week ago

    Professional and warm touch to property letting services, and I could not be more grateful for the level of service that I have received. So hassle and stress free! Next to that, I've been treated so warmly. Thank you so much!