Preparing a property for rent
In today's fiercely competitive lettings market, distinguishing your property is crucial for achieving success as a landlord.
Whether you're a first time landlord or have let properties before, you will be governed by more than 145 pieces of legislation so check out these tips to help you get started.
Present the property as best as can be
In a competitive market, well presented properties naturally stand out more to potential tenants compared to darker, less inviting spaces. In such a high-stakes environment, any advantage should be embraced readily—and achieving this is simpler than you might think.
You don't have to go to extremes with painting and decor to create a welcoming ambiance, but ensuring the home is impeccably clean when showcasing to prospective tenants is non-negotiable. Surprisingly, many landlords overlook this critical aspect of preparation.
Opting for professional cleaning services ensures the job is done to a high standard, freeing up your time for more pressing matters. Additionally, we would always recommend to have carpets and windows professionally cleaned before letting the property, as this significantly enhances brightness and overall appeal.
While extensive decorating isn't necessary, addressing areas in need of attention is advisable. Similarly, for properties with gardens, you don't need elaborate landscaping, but trimming shrubs, weeding beds, and mowing the lawn are essential to make your property shine.
Does everything work?
This sounds simple but absolutely everything should be checked! That means inspecting every window, light fixture, electrical appliance, radiator, plug socket etc and every other detail. It's essential to ensure that everything is in proper working order before the tenancy begins. Rest assured, if something isn't functioning, your tenant will rightfully expect it to be fixed. So, it's best to start the tenancy with everything in good working condition.
Safety Regulations
Before you rent the property, you must ensure that all the required safety certificates are in place. These include.
- Provide the tenant with an EPC (Energy Performance Certificate)
- Maintain all electrical items to comply with Electrical Equipment (Safety) Regulations
- Provide a Gas Safety Certificate and continue to do so annually
- Fit and test smoke alarms and carbon monoxide alarms
- Ensure any furniture and furnishings comply with current fire safety regulations
Rent Protection and Insurance
Even with the most responsible tenants, accidents can still occur unexpectedly. While it's probable that you already have buildings and contents insurance as a requirement for your mortgage, it's prudent to review these policies before renting out your property, particularly if they've been in place for some time. While tenants should obtain their own rental insurance, having your own coverage will provide you with added peace of mind.
Securing income protection or a rent guarantee policy will safeguard you in the event that your tenant encounters financial difficulties. Circumstances can change, and you may find yourself with a tenant struggling to fulfill their rental obligations to you as the landlord. While this policy is optional and may not be suitable for everyone, having such protection in place can offer significant reassurance—especially if the rental income constitutes a significant portion of your monthly earnings.
From the outset, having an excellent letting agent onboard can spare you numerous headaches down the line so if you’re thinking of renting your property and you would like a chat, get in touch using the details below.
Make sure you follow Keys & Lee on Instagram, Facebook and YouTube for regular content and information for homebuyers and sellers in Romford.
07969 638349
duncan.kaye@keysandlee.co.uk
