There is a lot to consider when deciding to rent out your property or buying to rent, and there are many laws that landlords have to comply with. Ensuring that you know your responsibilities and obligations, and how to protect your property is key to a healthy relationship between landlord and tenant.
Thinking of renting out your property? Here are Pads top tips for potential new landlords:
Preparing Your Property.
The property should be presentable and cleaned throughout. All maintenance should be completed prior to tenants moving into the property, this will make the property more attractive to potential tenants. You should also consider whether to let the property furnished or unfurnished; covering both bases will make the property available to a larger market.
Know you responsibilities.
Becoming a new landlord has many responsibilities, which if broken can lead to serious fines or in some cases imprisonment so do your homework. If you are unsure about your responsibilities as a landlord you should contact a professional in the industry.
Meeting with potential new tenants is a good idea before agreeing to let your property to them. Alternatively you can leave this to a letting agent if you so choose. Letting agents will ensure that tenants are suitable for the property through reference checks and further preform credit checks to ensure that they have the financial means to rent the property.
Being a Landlord full time job. You are accountable for all repairs and maintenance and the refurbishment of the whole property, inside and out. You can also expect to receive phone calls and messages from your tenants at any time of the day as issues regarding the property may require immediate attention.
If you would like free property advice follow us on Twitter and use #askpad
If you would like to talk to an industry expert here at PAD Residential becoming a landlord follow this link: https://www.getapad.co.uk/contact-us/
Or call us: 0161 839 9654
Great location, excellent host. People of Manchester are extremely helpful and friendly. Easy city to get around. Apartment perfect for family with children. Highly recommended.
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