Three Tips For Being A Landlord

Being a landlord is not easy because it all depends on your tenants and the relationship you have with them. If you get good tenants then you are in luck however, if you get bad tenants then it can be very difficult and stressful. Nonetheless, there are a few things you can do to ensure you are making your life less stressful.

Treat The Property Like It Is Your Business

Although owning property is not your main job, it is still important to make sure that you act like it is. It is a small income in your life but it is still an income that makes your life a lot easier. Professionalism is key with your tenants so if you ensure you are honest with them and make sure they don’t misuse your property then they should conform. Make sure everything is written down with what they can and can’t do on your property. Make sure that they sign a piece of paper as well for proof that they have read the documents.

Before you begin renting your property, we advise you to make sure everything is safe on your property. The last thing you want is something to go wrong when it was already broken before the tenants moved in.  There are many things to go wrong with a property, so you need to ensure it is all safe for somebody to live there.

The things you need to check include fire and smoke alarms, the boiler system, internal and external pipes for combustion and ensure vents are not filled with debris. You also need to ensure there is no dampness in the property. Make sure that anything which uses gas is also safe to use and the electrics are all working correctly. If any of these are not working as they should and something goes wrong when a tenant lives there, you could get in a lot of trouble.

Find Your Tenants Online

Finding tenants online is another vital part of making sure you find the right tenant. To do this, you need to create an online listing of your property. It includes how much the rent is, how many bathrooms and bedrooms the property has, what it is close to, the EPC rating and ideally a floor plan. Ensure that you upload clear photos of your property so the potential tenant can see what they are looking at.

Screening Process

There are many things you need to check which include the tenants. Having a screening process for a tenant is essential to find out whether they will respect your property. Furthermore, you will likely receive a lot of applications so you need to reduce the number of applicants.

If you do have any trouble with your tenants once they have moved in then you will likely need landlord legal advice to see what actions you need to take.

Summary

There are many things you need to be wary of when being a landlord. However, it all depends on your tenants. As long as you stick to the rules and regulations of being a landlord, you will have your back covered. Again, if you are in trouble with your tenants then you will likely need to contact landlord solicitors to see what legal action you can take.