There is a lot to consider when looking to let out your property and so, with you in mind, we have compiled a short list of tips for landlords:
Make sure the tenants that you accept are squeaky clean. They should have perfect credit scores, perfect landlord’s reference, sufficient documents and have enough income to easily pay the rent and even has a guarantor. Ocean Estates Manchester will do all of this for you because we let properties as if they were our properties. We do not compromise on the quality of tenants for our landlords.
If you are managing the property yourself, make sure there is nothing that makes you uncomfortable with your tenants. If there is, let the property to someone else.
You never know when things might go wrong, so make sure you’ve got a robust landlord insurance policy which includes public liability cover, so if your tenant falls down the stairs and decides to sue or there’s a break in, a fire or a flood, you won’t lose the shirt off your back.
You shouldn’t trust your tenants to tell you, or even notice, that something is wrong with the property. Visit your property at least every other month to ensure that you catch problems before they become serious.
Make sure your tenants know that they should only call you when it is suitable for you unless there is an actual emergency and also be clear on what classifies as an emergency or they may call you because of a blown light bulb.
The fewer items you provide, the less items you have to maintain/replace when broken. Avoid providing easily broken electrical appliances such as kettles and TVs or “luxury” items such as tumble dryers and dishwashers.
Make sure you are aware of all of the key dates such as when the tenancy ends, when the Gas Safety Certificate needs to be renewed to give yourself plenty of time to arrange renewals.
We can do all of the above for you and more for a small percentage of the rent. You will never have to give a thought to the property and can simply just enjoy the monthly rental income.