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.

  • Colin Hayes
    Colin Hayes
    10:58 21 Jun 17
    The property was let to the other viewer on the day, they acted quickly and had secured it during the viewing, all applicants are informed it sadly is a first comer first served basis. This is a very fast moving market and sadly sometimes this happens.
    Joy Sadeghiani
    Joy Sadeghiani
    13:46 06 Mar 17
    What a fabulous letting agent Stuarts are. Their attention to detail in fantastic. Everything you need to know is clearly explained on the website. Their customer service is second to none and they are always happy to answer any queries a potential tenant may have. I would highly recommend using this letting agent.
    kati pasztor
    kati pasztor
    16:20 07 Mar 17
    I have been with the company with over 7 years. I would highly recommend them to anyone who is after a secure and well looked after rental. Claire, Margaret and Colin are not only helpful but genuinely lovely people. Anytime I have a request they sort things out for me straight away. I feel safe and trusted in the properly I live in and if I would ever have to move, i'd definitely stick with Stuarts to find me a new home.
    Sue Jelks
    Sue Jelks
    13:35 06 Apr 17
    First class service provided, personally tailored to suit each client. As a professional accountant and tax advisor such excellent service is always appreciated especially to enable up to date planning with clients.
    Gemma Cullum
    Gemma Cullum
    15:45 14 Feb 17
    We have recently completed work for Stuarts Property Services at one of their tenanted properties. I would like to say a huge thank you for the work you have offered to us recently and what a great company you are to work for. All the best for the future and we look forward to continuing our good working relationship.
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