Landlords: Get The Most From Your Rental Property

As many are finding it hard to obtain a mortgage, renting has become a popular way for those who can’t afford to buy a home right away to fly the nest. Becoming a landlord can, therefore, be a great investment, but it can be hard to make your property stand out from the rest. Below, we have listed some ways you can make the most of your rental property as well as some tips to make it stand out.  

Advertising and Management  

As a landlord, you will want your property to be advertised accordingly. The best way to do so is via a lettings agent as they can find someone to occupy your property. Additionally, you can also use an estate agent to manage the property for you; this will include support with any problems or questions the tenant may have and dealing with any paperwork.

 
This is a great option for new landlords, as having someone else to take care of things on your behalf can take the stress away. Your letting agent will draw up contracts, take the deposit and conduct the inventory in addition to advertising your property. Here at Godfrey Short & Squire, we offer two types of services, fully managed or tenant find, and you can find a list of what is included here.  

Décor

How your property looks can affect how much you can charge for rent, and you will also want to ensure that your tenants will be happy and comfortable. Those who are looking to rent a home often look for somewhere which has been decorated to a high standard and is well looked after, and that is why it is important to make sure that you have checked for defects like damp and cracks. Additionally, the outside of the property also needs to look well-presented as first impressions do count.  

If you are looking to let your property long-term, many tenants may consider the age of the property. As mentioned above, it is important that the building has been well-maintained, and older buildings are more likely to have problems with damp. Before you look at letting out your property, take some time to ensure that there are no defects within the property.  
It is also a good idea to make your property a ‘blank canvas’, as this will appeal to more potential tenants. Use neutral colours throughout your property including the floor, and if the property will be furnished, remove any items that are looking old or are an ‘acquired taste’.  

Safety  

Not only will your tenants want to feel secure, but it is also a legal requirement to ensure that the security of the building is up to date. The regulations in place include the following:  
Alarms: Landlords are required to have at least one smoke alarm in every storey of their property as well as carbon monoxide alarms in any room which contains a fuel-burning appliance. Additionally, landlords will need to make sure that the alarms work at the start of every tenancy.

 
Safety checks: Landlords will also need to ensure that any electrical items in the property are safe and are maintained throughout the duration of the tenancy.  
Energy Efficiency Standards: Landlords will need to make sure that they follow Energy Efficient Standards which requires the property to have a minimum standard of E on their Energy Performance Certification. Additionally, it is a good idea to make sure that the locks and any other security system you may have all work.  

It is important that your tenants are comfortable and happy in your property. We are experienced letting agents in Okehampton, so if you have any questions about how we can help you manage your property or find a suitable tenant, then please don’t hesitate to get in touch on 01837 54504.