Let’s face it, renting out your property isn’t an easy task and it can take a lot of time and effort.
Ideally landlords want tenants who are able to meet their rental obligations and are happy to stay for the long term. This suits both parties as it means the tenant is granted security of tenure and of course means the landlord won’t need to think about the worst case scenario of eviction or have to arrange for the property to be re marketed if things go wrong. Time is money, after all.
To cover youreslf, there are steps you can take to make sure that your property is kept in good condition and to prevent a bad experience or nightmare tenants who damage your property. However, it’s not always easy to find great tenants so mydeposits has produced a few helpful tips to ensure you’ll be able to find and keep hold of tenants that you’ll love.
Finding the right tenants
Carry out a thorough reference- It’s essential to obtain background checks on your tenants before granting a tenancy, such as a credit history and references. These should help persuade you that the tenants you take on will be able to pay their rent.
Ensure your tenants arrange a viewing beforehand – This way you can be sure your tenants are genuinely interested in the property. It will help manage your tenants’ expectations of the condition of the property and avoid the risk of letting to tenants who undertake illegal activity, such as cannabis production.Yes, this happens!
Keeping hold of good tenants
Get the tenancy off on a good footing – Meet and greet your tenants, perhaps buy them a small moving in gift: some flowers, a bottle of wine, chocolates etc.
Ensure they know their legal obligations as laid out in their tenancy agreement- This includes how and when rent payments are due, details of any other bills they are liable for paying and what to do should any issues arise.
Compile thorough instructions for the property and its appliances – For example, how to set the heating, how to use any appliances, and how to properly ventilate rooms.
Undertake a detailed check in report – See our guidance for more information on best practice with the check in procedure.
Be available and visible – Leave your contact details with your tenants and conduct inspections. Make sure you address any issues and make repairs quickly.
It’s all about the relationship
Fostering good relationships with your tenants is a vital part of a smooth tenancy and is often the best way to avoid issues that may occur along the line, such as disagreements over the return of the deposit.
So, if you think you’ve found the perfect tenants, then why not show them some love this Valentine’s? It doesn’t have to be a full blown PDA (public display of affection), but every little helps.
The dreaded break up
Remember, some relationships eventually come to an end, and you and your tenants may need to go your separate ways. If this happens make sure you undertake a detailed check out report then discuss the return of the deposit. You should only make fair and reasonable deductions to the deposit if necessary.
As always, mydeposits is here to support you, so don’t forget you can access help and guidance on a whole range of topics, including:
- What constitutes fair wear and tear
- How to negotiate with your tenants over the return of the deposit
- Advice on how to claim for common kinds of deposit disputes.