For any first-time landlord, getting your property ready to take in tenants can be an exciting time. Over the years at Amber Properties in Northampton, we’ve helped and advised many of our clients on the right way to go and what they need to know. Here are just a few of our top tips for getting that winning combination which gets the right tenants flocking to your door.
Find the Right Letting Agent
We might say that, but working with a good letting agent is imperative if you want to make the most of your property. They’ll be able to liaise with you to set the right rent and screen tenants properly as well as cover all the paperwork. For novice landlords, this is invaluable.
Letting agents can handle a wide range of things, from simply finding the right renters and handling payments to managing your property and sourcing the perfect tradesmen when they are needed. You’ll also need to know about the legal side of renting and make sure you have things like the Gas Safety Certificate and Energy Efficiency Certificate, as well as choosing the right tenancy agreement to fit your property and circumstances.
Much of the decision about how much you want your letting agent to do is going to come down to personal preference. This is involves you weighing up the pros and cons – for example, if you want a totally hassle-free landlord experience, handing over the day to day management of your property, it may cost a little bit more but leaves you free to do everything else you want to do.
Who Do You Want to Rent To?
Considering your ideal tenant is also something that should be at the top of your list. You might want a professional person or you may be happy to take on a family with children, depending on your type of property and its location. You may even want to take advantage of the student population in your area for profitable short-term lets. Picking the right tenants is something you can work with alongside your letting agent and it’s well worth getting their advice and guidance.
Let Your Tenants ‘See’ Your Home
This is the same principal as when you are looking to sell your home. Ideally, you want to give your prospective tenants the ability to see themselves in your property. That means not being too radical with your home design – keeping colours neutral but tidy works more often than not. If you have furniture in your place and some of it looks a little tired, now might be an appropriate time to replace it.
End of Tenancy Cleaning
If you are getting your property ready for viewings after a tenant has moved out, undertaking a proper clean is vital. You may want to do this yourself but it can take a lot of work and effort. It’s often much better to hire a professional end of tenancy cleaning service or letting agent who can get it this done for you.
Keep an Eye on the Industry
Finally, there have been some major changes in the rental industry in recent times and it pays to keep an eye on the current legislation. That means being aware of issues like vetting the immigration status of potential overseas tenants and understanding the new tax arrangements for landlords.