Top 10 Tips For Landlords

At Valor Properties Estate & Lettings we understand the worries and concern a landlord can have, and for landlords who wish to be more hands on with the management of your property we have created our top 10 tips.

1. Make sure to carry out reference checks on potential tenants, this will highlight any previous CCJ’s that the tenant may have.
2. Always ask the tenants for a guarantor. Having the guarantor in place gives you someone to contact if rent arrears do occur. A home owner or somebody in stable employment is a great guarantor to fall back on if needed.
3. Complete an opening inventory (photographic), but also make sure that the tenant signs and agrees to the condition of the property.
4. Don’t be on call 24/7. Tenants will most likely contact you when it’s convenient for them, most likely to ring first thing in the morning or very late at night. Insist that they make contact with you in working hours unless it’s a genuine emergency. It may also be good to explain that an ‘emergency’ is a fire or flood not a blown light bulb!
5. Carry out regular interim Inspections. It might feel like a chore if your tenants haven’t reported any problems, but you can’t always rely on them to tell you if there is an issue. In some cases they may not even be able to spot a leak in a room they don’t use, or possibly issues with the gutter that they never notice. Visit your property every 3-6 months and hopefully you will be able to spot any problems before they become serious.
6. Appropriate insurance should be in place for public liability, building and Rent insurance.
7. Be Prepared, be thorough. Give yourself plenty of time to sort out maintenance issues before a tenant moves, so you’re not getting complaints from day one.
8. Always complete a closing inventory (photographic). This will ensure the tenant has left your property to a high standard. If the tenant has left your property in a bad way you can then take further action to get the property back in good condition.
9. Make sure you have smoke alarms on every floor of your property and carbon monoxide alarms in every room with a solid fuel source.
10. Have the boiler serviced. Try to avoid boiler breakdowns and the stress that comes with it. Do it when you have your annual gas safety check. It could save you money in the long run.

For landlords who want complete piece of mind and all the stress taken away from managing their properties, Priestley lettings offers the property management service landlord package. Finding tenants and the legalities of renting out a property are taken care of, and experienced tradesmen conduct any necessary maintenance work to the highest standards.