Landlords get dubbed a lot of things by the media: greedy, negligent and money-grabbing to name a few. Of course, this isn’t true for the vast majority of landlords, but there is increasing pressure on landlords to demonstrate they are dealing honestly and properly, and tenants are keen to push landlords as far as possible in showing their integrity. Here are a few ways of avoiding difficult conflicts and easily proving you’ve doing your job as you should be.
Keep your Receipts
If you conduct any repairs, undertake any maintenance work or buy any furniture that you will be charging your tenants for, you need to keep the receipts. It’s usually not necessary for you to prove the exact amount, but if asked then you will need to have some kind of evidence. Overcharging will not go down well, but it is acceptable to round figures up or down by a few pounds if you need to.
Pass on your Discounts
Lots of landlords have friends or relatives in the trades and are often keen to get work done for less than the market price. This is fine, but it’s not acceptable to then overcharge your tenants for any work done. You may find that you want to charge tenants for your time doing work yourself, also, in which case charge the rate you would charge to anyone else.
Prove your Legitimacy
Don’t wait to be asked by your tenants for your license, your landlord insurance information or your credentials: display them somewhere easy. Not only does this prove you’re doing a good job, it shows that you’re proud of your profession and an honest trader who’s willing to engage with tenants for mutual benefit, rather than someone who’s looking to rip them off.
Unfortunately there are negative stereotypes that surround the property letting industry, but that doesn’t mean that each individual landlord has to be affected by them. Do your job in the way you see fit and remember that any pressure on you to prove you’re legitimate is perfectly reasonable: you are at liberty to ask just the same of your tenants.