The business of letting out your property is complicated. Property-owners starting out need professional landlord tips and strategies to empower their business.
As experts in landlord management services, we thought it right to offer some advice for landlords who might be confused about what the next right move is for their business.
Review our top tips below.
Full Disclosure is a Must
When tenants come to tour your property, be honest about where the property fails and what they can expect upon move in. Dishonesty breeds unhappy tenants who may not see their lease through.
Full disclosure also prevents you from being liable should a problem arise.
Determine Flooding Risks
There are an estimated 2 million homes in the UK at risk for flooding. Find out if your property is one of them through the Environment Agency’s flood map on their website.
Be Available to Tenants
Your tenants want to know that you are just a phone call away. Make yourself available to them and let them know you are more than willing to answer any questions or concerns they may have.
Landlord management services
Choose landlord management services that add value to your business. Whether you go through an agency to find a tenant or are advertising your services on the open market, calculate the value they provide to avoid wasting your hard-earned money.
Opt for Local Guidance
If you enlist the help of an agent or agencies, choose someone who knows the local area well. They’ll have experience with market fluctuations and pricing suggestions that national agencies might not be able to provide.
Don’t follow the Trends
Avoid choosing properties simply because the area is popular. When you buy a let property you want to capture a good price that your target tenants want to pay. Don’t overshoot the value of a home simply because it’s located in a ‘prime’ neighborhood. These change with the years.
We truly hope the above advice for landlords finds you in good standing, and please don’t hesitate to reach out should you have more questions about your place as a landlord.
