Ten musts for a buy-to-let landlord

Want to become a better landlord? Follow these handy tips to help you get the most out of your buy-to-let investment.

  • Make a clean sweep-Before letting out your rental property, it is essential that you give the home a full and thorough clean. This not only sets the standards but gives the tenants a clear expectation of how you expect the property to be found at the end of the agreement.
  • Set the scene-The nicer a property looks, the better standard of tenant you are likely to attract. As such, good presentation is critical. Having modern curtains, blinds and lampshades can really add to a property’s charm. Don’t be afraid to make your property stand out from the crowd.
  • Communicate-A need for regular communication with your tenants cannot be underlined enough. This will not only help to solve any problems swiftly but will also make you seem approachable and willing to assist your tenants with any issues proactively. 
  • Provide the paperwork-As a landlord, it is your responsibility to provide your tenant with all essential paperwork as soon as they move in. An energy performance certificate (EPC), Gas Safety certificate, tenancy agreement and copies of appliance handbooks must all be provided. In addition, you must give your tenant information on which scheme you have registered their deposit under. 
  • Be Prepared-An efficient landlord is one that thinks ahead. Make sure you leave cash aside in your budget for any problems that could arise. Things can and do go wrong, so make sure you budget accordingly. 
Ten musts for a buy-to-let landlord

Ten musts for a buy-to-let landlord

  • Get the timing right- Timing of rental payments needs to be made clear at the beginning of a new tenancy agreement. You need to establish when the payment will leave the tenants’ account and must be done as soon as soon as possible to avoid any disagreements down the line. 
  • Exercise your visiting rights-It is vitally important for you to visit your property and your tenants on a regular basis. It is important to give your tenants notice before visiting, either in writing or over the phone. This personal contact will again help to maintain a healthy relationship with your tenant. 
  • Do your research-Before making an investment, you should do all you can to research the local market. Look at typical rental costs, local amenities and be clear about your target market. Families for example will have different expectations to a single person or young professionals. 
  • Ensure you have insurance-One of the most important things you can do as an investor is to take out landlord and rent guarantee insurance. Unforeseen circumstances can see tenants’ requirements change and you could well be left with an empty property and no rent. Of course, suitable insurance will cover you, so be savvy and don’t take risks.
  • Maintenance matters- Always bear in mind your legal obligations towards repairs and maintenance in your property. Respond as promptly as possible to any issues and keep the tenant in the loop. Should you have to delay fixing any problems, let them know. Tenants are much more likely to stay longer and treat the property better if a landlord is efficient. Remember, communication is key!

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