At Mi Homes we have be assisting landlords find great tenants and helping them to manage their properties for over 10 years.
We have compiled some ‘top tips’ for Landlords to bear in mind when letting their property.
Documentation
Ensure you have all of the required certificates in place, e.g. gas certificate, electrical certificate, lender approval and EPC.
Think ‘home’ not ‘property’
First impressions count. The more quickly a potential tenant can visualise themselves living in your property, the quicker they will put an offer in.
Make sure the property is clear, clean and tidy both internally and externally. First impressions go a long way!
Be flexible. Consider allowing tenants to put their own touches on the property to make it feel more like home. You can agree it is on the basis that they make the areas good when they do leave.
Maximise Storage
If you have any extra storage space at the property like a loft or a garage, then consider letting the tenant use that. It will be more appealing when marketing a property if there is space to store things.
Work with your agent!
Consider letting your agent have access to the property by giving them keys for viewings and property management. This takes the pressure off you as a landlord and allows agents to do viewings and at a convenient time to the tenant.
Maintenance
Prepare to budget for general house maintenance. By updating the paintwork and flooring, it makes the property seems fresh and more attractive to prospective tenants.
We suggest you budget to repaint the property every 6-7 years in between tenancies. This ensures you keep your investment up-to-date and helps to maintain the value.
Think long-term
The majority of tenants, especially those with families want to rent for longer as they want stability. Long term tenants will tend to not only care for the day to day upkeep of the property but it will also guarantee you a regular rental income for longer.
If you want to discuss any of these tips in further detail or are looking for some free independent property advice, then get in touch today on 020 7323 9574.
