Top Tips For Becoming A Good Landlord - Achieve Success, Respect And Popularity From Your Tenants
- Date: 2007-04-17 - Word Count: 367
Share This!
Letting your property is a proper business and to be a profitable landlord you need a business plan and procedures in place that you will need to complete, in order to rent out your property successfully, such as: a proper application and screening of prospective tenants, a carefully drawn up tenancy agreement, regular maintenance of the property, and an up-to-date knowledge of housing regulations, etc.
Top Tips on how to be a good landlord:
provide a copy or access to the Tenancy Agreement
provide a copy of the full inventory - stating condition of all fixtures and fittings - agreed by the tenant
keep the rent at or near market levels
make yourself readily available and contactable
provide emergency contact
encourage the tenant to report any dis-repair or faults promptly
deal with any repairs promptly
maintain gas and electrical installations, heaters and water heaters and sanitation in proper working order
arrange annual checks by a qualified electrician of the electrical supply, fire detector, alarms, etc - this is a legal requirement
arrange an annual gas safety certificate by a CORGI registered gas fitter - this is a legal requirement
replace any damaged furniture or fittings
maintain the interior and exterior decor - this will attract good tenants
ensure the safety and security of your tenants - check alarms, locks and fire extinguishers are working
Treat your tenants as you would like to be treated.
Some landlords like to carry out inspections, usually every 6 months, but many tenants find this invasive and feel it suggests that they are not considered trustworthy. Inspections also make the property feel less like theirs, which is not ideal as people tend to take more care of their own homes. If you feel happier inspecting your let, make sure you give your tenant plenty of notice - always at least 24 hours - and offer different times to fit in with their lives. If problems are arising the tenant should be notified in writing that this is likely to incur them added costs for cleaning or repairs.
Tenancy Deposit Scheme
The deposit now has to be lodged with the custodial scheme, in case of any dispute at the end of the tenancy agreement.
The main thing to remember is that you may own the property, but for the rental period it is the tenant's home.
Top Tips on how to be a good landlord:
provide a copy or access to the Tenancy Agreement
provide a copy of the full inventory - stating condition of all fixtures and fittings - agreed by the tenant
keep the rent at or near market levels
make yourself readily available and contactable
provide emergency contact
encourage the tenant to report any dis-repair or faults promptly
deal with any repairs promptly
maintain gas and electrical installations, heaters and water heaters and sanitation in proper working order
arrange annual checks by a qualified electrician of the electrical supply, fire detector, alarms, etc - this is a legal requirement
arrange an annual gas safety certificate by a CORGI registered gas fitter - this is a legal requirement
replace any damaged furniture or fittings
maintain the interior and exterior decor - this will attract good tenants
ensure the safety and security of your tenants - check alarms, locks and fire extinguishers are working
Treat your tenants as you would like to be treated.
Some landlords like to carry out inspections, usually every 6 months, but many tenants find this invasive and feel it suggests that they are not considered trustworthy. Inspections also make the property feel less like theirs, which is not ideal as people tend to take more care of their own homes. If you feel happier inspecting your let, make sure you give your tenant plenty of notice - always at least 24 hours - and offer different times to fit in with their lives. If problems are arising the tenant should be notified in writing that this is likely to incur them added costs for cleaning or repairs.
Tenancy Deposit Scheme
The deposit now has to be lodged with the custodial scheme, in case of any dispute at the end of the tenancy agreement.
The main thing to remember is that you may own the property, but for the rental period it is the tenant's home.
Related Tags: property, rental, home, let, tenants, landlord, check, inspections, tenancy agreement, good landlord, tenancy deposit, tenancy deposit scheme
Fiona Howard specializes in writing for the financial and business market, and is a well-respected city analyst. She currently advises Loan-Loans-Mortgage, one of the leading UK online sites for finding a fast Business Loan or Buy to Let Mortgage and specialist advice for professional landlords Your Article Search Directory : Find in Articles
Recent articles in this category:
- 5 Reasons to Buy Jasper Real Estate
Jasper is a small town in North Georgia and it is growing rapidly. Since North Georgia Foreclosures - Ellijay Real Estate
Ellijay Georgia has always been known for it's outdoor activities and seasonal festivals. Downtown E - How to Deal With Blocked Drains
A blocked drain is an occurrence that happens eventually to all households. You may have experienced - The Benefits of Hiring a Plumbing Consultant
Your dream home may not always be brand new, with fresh paint and home essentials. There are certain - The Worst Mistake You Can Make When You Apply to Rent a Home
A whole new class of people has become renters and potential renters in America during the last thre - State of Individual Real Estate Markets
Everybody is well aware of the hit that the real estate market has taken over the past three years. - Thoughts on Avoiding the Landlord Trap
I've heard several people say they would never invest in a multifamily rental property because they - An Idea to Increase the Bottom Line of Your Investment Property
Are you pretty sure that you've already maximized the income coming from your property? If you've cl - Finding the Value of a Piece of Investment Real Estate
There is a lot of confusion about how much investment property is really worth. We'll look at three - Arkansas Land For Sale - Search Engine Optimization and Your Website
If you have Arkansas land for sale and are interested in advertising it on your website I have a few
Most viewed articles in this category:
- How High Did Home Prices Really Go
The U.S. Census Bureau released data on Tuesday that revealed where the nation's hottest markets wer - New Homeowners Tips for Household Safety
With so many items on their ¡°buying a home¡± checklist, few homeowners take into considerati - Truth About VA Foreclosures
Many people now days are finding themselves out of work and not being able to make the mortgage paym - Avoid Rookie Real Estate Investing Mistakes
When Robert Kiyosaki, author of the Rich Dad book series, bought his first property he was, of cours - Finding The Perfect Roommate On Craigslist
Craigslist, Roommates, and The Concerns Craigslist is "great" when it comes to looking for housing - The Forgotten Secret To Selling Property - Simple, Quick And Cheap
Why spend big dollars trying to get people to drive a long way to see your house, when your best pro - Get Amazing Results Selling Real Estate Online
This is the age of the internet. Why not take advantage of the widespread use of the internet to ad - Dallas Real Estate Information
In the United States, Dallas is considered as the second leading state according to the area. If any - The Largest Private Equity Indian Real Estate Deal
In the largest private equity deal won by the real estate sector, Morgan Stanley Real Estate has inv - Fractional Real Estate Ownership
Fractional ownership of vacation ski condos is growing in popularity. Park City Utah a popular ski t