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In this short read, we share a few ideas on what it takes to become a good landlord and look after your property and tenant.
There’s quite a lot to think about when it comes to being a good landlord. Not only are there some qualities which will make you better, such as good communication skills and organisation, but knowing the process will make you a successful landlord too.
Know your responsibilities and legal requirements:
*Ensure a ‘How to rent guide’ (Available from HMRC's website for the most up to date version) is served at the start of the tenancy agreement.
*Have a signed copy of the tenancy agreement.
*Signed copy of the inventory report.
*Details of where the deposit is registered.
*Have a valid EPC (Energy performance certificate)
*Have a valid EICR report (Electric installation certificate report) These last for 5 years.
*Have a valid Gas safety certificate (If there is gas to the property). These need to be completed every 12 months
*Ensure the property has working smoke and carbon monoxide alarms.
*Ensure the property is safe and hazard free.
Be professional: Treat this as a business venture. Being overly sensitive or getting upset about things won’t be good for you or the tenant. Remember, you bought or maybe inherited the property as an investment, but try and remember it is also the tenant’s home.
Be Organised: Whether you are managing the property yourself, or you have instructed an agent, you need to know the things which are expected from a landlord:
Document everything – Any verbal agreements must be followed up in writing. This protects both you and your tenants.
If you’re managing the property yourself, have a nominated person that is familiar with the property and can support in your absence such as holidays.
For non-urgent issues, agree how the tenant should contact you? WhatsApp, email, telephone or text message.
Inventories: It’s recommended that you use an independent company to provide details of an inventory to list everything in the property and the state of repair of any furniture, appliances and décor. This is a great way to avoid any deposit disputes at the end of the tenancy. Allow the tenant time to check and sign the inventory once they move in and consider re sending the same document back to them 4 weeks before leaving so they are clear in how the property was handed to them and how they should leave it.
Keep your tenants happy and save yourself time and money – high turnover can be costly. Keep them happy and do the following:
Be quick when it comes to maintenance and get things fixed as soon as possible, and keep the place in good working order. If repairs are likely to take longer than expected, keep them updated
Respect their privacy and give them plenty of notice before you visit, if you need to.
Be considerate and fair. Give your tenants the benefit of the doubt where you can.
If you want any further information about becoming a landlord or have any questions, please contact Next Move Homes Norfolk on 01953 550317 or 01603 536719