Putting your property up for rent is a big step, especially if this is your first time renting out a house or flat. If you are planning on becoming a landlord or landlady then there are some things you need to know, in order to keep within the laws and keep your tenants happy. Here’s our guide on how to be that perfect landlord or landlady, whilst making plenty of money in the process.
Know the laws
Before you put your property up for rent there’s a whole load of laws you need to be aware of. Tenancy laws cover everything from repairing equipment to noisy neighbours, and you need to have a basic grasp of it all. We’re not saying that you need to go back to university to study property law, but you should do some reading before becoming a landlord or landlady. Luckily there are legal companies that can help you with the harder parts of property laws; for example, Roger Hannah can offer lease advice on a number of tenancy issues that may arise whilst you’re renting your property. However, knowing the basics is a good start.
Avoid checking up on tenants
The worst thing any landlord or landlady can do is be intrusive or constantly check up on tenants. It makes them feel uneasy and will end up causing conflict between everyone. Unless there are any major problems then you should only check your tenants once within a short term contract and a couple of times for a longer term contract. You must also ensure that you give them notice that you are coming round; don’t just let yourself in. Not giving your tenants notice is actually against the law and could get you into a lot of trouble. If you’re worried or have received complaints, then organise a time to go round and see your tenants that suits everyone.
Be polite and timely
Renting a property is like running a business; the tenants are technically your customers. Being rude, or not responding to their issues quickly, is poor customer service and is going to ensure your tenants move out as soon as they can. If the tenant has a problem with anything in your property then make sure you send someone out to check it as soon as you can. If there’s a question they need answered, then get back to them quickly and politely. We’re not saying you have to drop everything to ensure your tenants are happy, but responding in a timely manner will win you plenty of brownie points.
Part on good terms
Regardless of what has happened during a tenancy, you should always part on good terms. Offer the tenants a reference and make sure you give a fair amount of their deposit back. They may even help you show new potential renters round if you’re nice, or recommend your property to friends and family. If there has been a lot of damage to the property then you are well within your rights to claim back the deposit, but don’t take huge chunks out for a little bit of cleaning here and there.
Being the perfect landlord or landlady will hopefully ensure you attract the perfect tenants; which is what we all want. They will always pay their rent on time and may even renew their rental contract, which certainly saves advertising the property again. Renting a property isn’t always easy, but our tips should hopefully make it a lot less stressful.