What is involved in the ongoing management and maintenance of a rental property?

Not all property investors are interested in being a landlord. The thought of actually dealing with all that property maintenance and tricky tenants can be very exhausting. The fact is, not everyone is suited to being a landlord. This can require an immense amount of patience and perseverance.

As a landlord, you are constantly on call, you may find yourself dealing with a blocked sink on a Sunday morning. It is not for everyone.

Is buy to let investment right for you

Importance of inventory at tenancy disputes

There are ongoing tasks to take care of on a day to day basis. Once a tenant has moved into a property and all regulations are met;

  • You need to collect the monthly rental payments.
  • Manage repayments should your tenant fall into arrears.
  • Handle and respond to all maintenance enquires quickly and in a professional manner.
  • Update all safety certificates as and when necessary.
  • Carry out regular property inspections.

What is a landlord property inspection?

How to find a contractor

Renewing or ending the tenancy

At the end of the tenancy period, you either renew the agreement with your existing tenant or search for a new tenant. You may;

  • Renew the existing tenancy.
  • If the tenant is moving out, book in an inventory checks out.
  • Compare the current condition of the property to the inventory taken at the start of the tenancy.
  • Return the tenant deposit withholding appropriate funds for any deductions.
  • Resolve a dispute with the tenant should they disagree with you withholding all or part of their deposit.
  • Prepare property for a new tenant.
  • Make sure the rental property is safe
  • Provide your tenants with the How to Rent Guide
  • Carry out a Right to Rent check
  • Reference your tenants
  • Prepare a tenancy agreement
  • Organise landlord insurances
  • Protect your tenant’s deposit
  • Ensure the property is clean

Leaseholders who are in process of selling but have unpaid service charges
Please contact Pelin Martin to book a 30-minute complimentary property consultation on +0208 994 7327 – pm@bluecrystallondon.co.uk