Being a landlord comes with a lot of responsibilities and requires knowledge of currently buy-to-let regulations.
If you want your tenancy to run smoothly, you will need to build a relationship with your tenants, keep on top of maintenance and repairs and ensure that the property is well-maintained throughout the tenancy.
As one of the leading estate and letting agents in Basildon, Brentwood and other Essex areas, here at Balgores Property Group we have the experience to advise you on how to let your property successfully. Below, we list four property management tips for landlords to ensure a stress-free tenancy.
Ensure the property is rent-ready
Before you begin your search for renters, you want to make sure that your property is well-maintained and safe for people to live in. This might sound obvious, but it is a necessary step that can easily get overlooked if you’re eager to get tenants in situ.
Ensure that the home is thoroughly cleaned and that all quick fixes have been made prior to putting it on the market. Also, decide on whether you want to let your rental property as furnished, unfurnished or part-furnished, and remove any personal items or furniture accordingly.
After all, a clean and tidy property can boost the maximum potential of your rental home and will encourage tenants to take better care of your investment.
Build a rapport with your tenants
Being a friendly and attentive landlord that responds to requests and enquiries quickly will help a tenant to feel more appreciated and cared for. In turn, they will be more likely to extend their tenancy.
Building a rapport with your tenants can be achieved by contacting them regularly (at least once a quarter), responding promptly to any maintenance issues and generally taking care of them.
Of course, with your letting agent on hand to foster a good relationship between both parties, your renters are more likely to be happy and willing to stay for the long-term.
Keep on top of maintenance and repairs
Part of being a good landlord and keeping your tenants satisfied is dealing with maintenance, repairs and any other issues that crop up as soon as possible.
It’s worth doing regular inspections and maintenance work early to avoid any large, expensive repair works that might require a vacant property and therefore a potentially expensive void period.
It’s also crucial that you are flexible and transparent when responding to any requests. This will show that you’re a serious and reliable landlord that your tenants can depend on.
Act quickly and accordingly
In the event that your current tenant gives notice to leave, you should start advertising for new tenants as quickly as possible.
Even when you purchase a rental property and it’s not ready to let, you can market the property early. This will get tenants lined up for when work is complete – meaning you can start earning rental income quickly.
Being prepared and having a strategy to keep void periods at bay will allow you to perform better than the average landlord and make sure your property is occupied for as long as possible.
Bby being professional, flexible and responsive, you will be more likely to find good tenants and hold onto them for the long-term. What’s more, your letting agent can help you to manage your property effectively and keep tenants satisfied throughout the tenancy.
At Balgores Property Group, our many branches across Essex and Kent can help you to let your rental property and generate impressive returns. For more information about our services, please get in touch with us at one of our offices.
Additionally, to find out how much you can be charging in rent each month, why not request a free and instant online valuation today?