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That means constant cash flow for you, low maintenance bills and no voids. So how to do you find them and make sure they want to rent your property?
First things first… although you’re probably raring to go, before you start marketing your rental property you MUST make sure that it (and you, as a landlord) complies with all the legal obligations.
Present the property well
Make sure the property is clean and odour free- inside and out. If it’s been vacant, arrive early and open the windows to allow some air to circulate, and pick up any post that’s collected. Don’t forget about the garden and also make sure there’s somewhere for the prospective tenant to park their car – even if that means you parking round the corner!
Rent – be competitive
Ask for a realistic level of rent and review if necessary.
Appeal to your target market
Be clear on who your tenants are likely to be – young professionals, families, etc. – and make the property appealing to them. Décor, fixtures and fittings, furnishings and any included extras could make the difference between yours and another property. Consider what incentives you could offer. Think about putting in cable or satellite TV, or perhaps including council tax or particular utility bills in the rent.
Know who your tenants are
Before you accept tenants, make sure you get as clear a picture as possible as to who’s moving into your property.
- Before you accept tenants, make sure you get as clear a picture as possible as to who’s moving into your property.
- Check your tenants’ past and current employment status
- Take up references from previous landlords
- Arrange for a 3rd party to carry out a credit check
Keeping your tenants happy
Once your tenants are in the property, carry out periodical checks and make sure you keep the tenants informed of when you’ll be visiting. Poor maintenance and management is one of tenants’ biggest complaints about landlords, so respond to queries or complaints as soon as possible and keep on top of any necessary repairs and replacements.
Being a successful landlord is all down to planning. If you follow the above steps and keep your tenants happy, you’re more likely to have a stress-free time and reap the rewards of your property investment.
Please contact Pelin Martin to book a 30-minute free property consultation on