How to be a good Landlord
Being a good landlord requires time, effort and money, but it’s worth it to find and keep good tenants for longer.
Here’s our top tips for how to be a good landlord:
1. Be clear in your tenancy agreement
Regardless of whether you’re renting to a family member, friend, or someone you have just met, make sure you use an Assured Shorthold Tenancy (AST). Be sure to include any property specific details, so it is clearly understood and recorded officially what your expectations are.
2. Don’t visit unannounced
Tenants have the right to be informed 24-hours prior to any visits to the property. Inspections are important to ensure the tenancy agreement is being properly upheld, however, you should give your tenant plenty of notice.
3. Treat your rental like a business
- Make sure you:
- Keep your tenants well-informed of repairs, visits and alternative contacts for you if you are going away
- Have plans in place for void periods, unexpected costs and late payments
- Deliver good customer service: introduce yourself, be approachable and be responsive, or hire a good agency to do this if you don’t have time
- Use trusted, professional tradesman who will do a good job
4. Take prompt and effective action
Ensure a prompt response to any reports from tenants of any issues or necessary repairs. Never overlook the issue and keep the tenant informed with your progress on dealing with it. Properties need maintaining so issues and repairs are certain to arise. Have contacts of professional, certified, tradesmen on-hand for any potential issues that you can’t solve on your own and don’t skimp on quality repairs to prevent botched jobs that may create further damage long-term.
5. Keep up to date with rules and regulations
There are 100’s of different pieces of legislation that affect landlords and the letting of properties. Breaking these rules can result in not being able to gain possession of your property, unlimited fines and prison sentences.
A landlord is responsible for ensuring that the property is in a 'lettable' condition, with rules and regulations in place to ensure that a tenant has a warm, dry, and safe property. If your property doesn't meet the requirements, you could be forced to improve it with formal notices and legal action (consider HHSRS – Housing Health and safety rating system).
Some of the basic rules and regulations are to:
● Meet safety standards – think safety certificates!
● Consider paperwork – don’t forget your ‘Tenant – 'How to Rent' guide and EPC
● Be responsible for repairs to the structure and basic equipment of the property
● Protect your tenants' deposit
There is a lot more legislation associated with property rental and tenancy agreements. If you are anxious about the management of your rental property and would like some help or guidance to make sure that you get it right, get in touch with our expert lettings team. We are here and ready to help!