5 Great Tips for Letting Your Property
If you have a property which you’re thinking about letting, you may be wondering about the best way to make this happen. Letting is a complicated process and there are many guidelines and regulations which prospective landlords need to abide by, even before they put their property on the rental market.
Because letting out a property isn’t always as straightforward as we might hope, it’s best to have as good a handle on what’s expected of you as possible. So with this in mind, here are 5 great tips that will prepare you for putting your property on the rental market.
- 1. Find a Good Estate Agent
Many landlords choose to rent their properties privately, but there are all kinds of pitfalls along this route which an inexperienced landlord may not be prepared to avoid – unless you have someone to guide you. A professional, experienced estate agent, such as http://www.letsmoveyou.co.uk, will be able to help you deal with all the paperwork, legal aspects and practical elements of letting your property out to just the right tenant.
- 2. Spruce Up Your Property
Before you let your property out, you should always make sure that it’s suitable for a tenant to live in. This means assessing both the internal and external features of the property, to make sure it looks nice and is structurally sound.
- 3. Furnished Or Unfurnished?
There are many benefits to letting out properties which are either furnished or unfurnished, but what you decide should be entirely dependent upon your needs and circumstances. If your property already has furniture, it will need to be in good condition. If not, you may need to decide whether you want the expenditure of furnishing your property.
- 4. Insuring Your Property
All property should be insured against the worse, and rental property is no different. But with a rental property, you will need to insure it against extra things, such as the possibility of tenant inflicted damage occurring, or a tenant refusing to pay their rent. Make sure you get comprehensive landlord’s insurance, to cover you against all eventualities.
- 5. Sensible Money Matters
As a landlord, looking after your finances is of the utmost importance. If you choose to let with an agency they will most likely handle this for you, but if you let privately you will have to manage this yourself. Take advantage of the government’s tenancy deposit scheme, and always keep a record of rent payment and utilities.