Being a landlord can be stressful. To get the most out of your properties, you don’t have to spend all of your time managing them. It’s proven that lettings agents help to make your property more marketable to tenants. In this article, we look at actions you can take to ensure your property is successfully let and maintained.
Use a Property Management Service
Many landlords spend time on tasks which end up taking longer than anticipated. Our landlord management services are designed to help you manage your time effectively. Some of the tasks we can help you with such as screening tenants, will involve obtaining their references, making credit checks and Right to Rent checks if applicable. Our fully managed service also includes extensive local media advertising on various websites and providing you with a ‘To Let’ board. We will also put systems in place for who to contact when you’re on holiday, accompany you at any viewings, advising you of all offers and negotiating the best rent to charge. We will also be in charge of checking your tenant in and out of the property. Using an ARLA property mark agency will help you to save time and money.
Regarding rental payments, if you use a property management service, they will negotiate the best rental rate on your behalf. The agency will collect the rent using standing order payments. Utilities and water charges are processed through the relevant supplier and the council tax office advised of new occupancy.
Stick to your policy
Deciding rules as you go can cause a lot of hassle and could even end up in a legal battle with your tenant. To avoid disagreements with your tenant, make sure you have a tenancy agreement in place. We will prepare all legal documents and deal with any tenancy disputes. To find out more about tenancy agreements and your obligations as a landlord, see the YouGov website.
Keep your property maintained
Fully maintaining your property will avoid problems and costly repairs for you in the long run. A well-managed property will also keep your tenant happy and will avoid any issues when rental payments are due.
Within our fully managed service, we will deal with all repairs, maintenance and emergencies needed to your property and arrange for them to be fixed immediately by fully qualified and approved tradesmen. An inspection of your property will be carried out twice a year and all findings reported to the Landlord. We will also manage your money set aside for repair, so if any repairs are needed, this can be done quickly and efficiently. All appropriate certificates and insurance claims will be handled through us.
Stay organised
Keep all your important tenancy and property documents in a secure place and ensure that they are easily accessible. If using a lettings management agency, a record will be kept of all repairs and those which are due on the property. This documented repair history protects your rights as a landlord and is extremely handy should any issues arise with the tenant.
In summary, it is possible to be your own landlord and manage the property yourself however if you’re looking for a stress-free life as a landlord, please appoint a lettings management agency such as Paige & Petrook.
If you would like to know more, please feel free to contact Clive by email: clive@paigeandpetrook.co.uk or call 020 8866 5666.