For a lot of Buy-to-Let home owners, actually deciding to buy a house is the hardest decision they think they have to make. Making sure any renovation work is within budget, keeping up to code with the safety fittings and furnishings in the property. But what about the once you agree a tenancy?
Be open and communicative
Managing tenants is a two-way street. The landlords who find they have the fewest problem tenants – and easiest time managing people in their property – are the ones that are contactable, follow-up on calls, get repairs sorted quickly and are open to discussion and communication from their tenants. Keep ‘paper trails’ and confirm issues and problems resolved through email if possible.
Understand your tenant’s responsibilities
Your tenant’s tenancy agreement states they have financial responsibility to pay rent at an agreed amount and at agreed intervals. They should also pay the Council Tax, water and sewerage charges, and household bills (whether you include these in rent or not is up to you as a landlord). Landlords tend to find that where the line of responsibility is drawn clearly, their tenants know what they are signing up for. In turn, they expect the landlord to quickly help with disputes, repairs and be easy to contact.
Take into account who your tenants are
It’s likely that every tenant who views or applies to live in your property will have a different background and circumstances. Are they in full time work, are they students, or on benefits? Your tenant’s situation may change more often depending on their line of work and when they work (e.g. do they work nights or weekends?). Again, communication is key in checking how often they are available. Trying to come to arrangements with night workers may be different than with students, so be wary who your tenants are and treat them accordingly.
Consider a Lettings Agency
The fact is that most of the landlords in the UK will forego this hassle and use a lettings agency to deal with their property and tenants for them. A lettings agency can provide a range of services for landlords, from collecting rent and managing the running of the property on a day-to-day basis, to addressing legal issues on your behalf, and managing and arranging repairs. This is also a great choice if you have a number of properties that you’re leasing and simply don’t have time to put one hundred percent of your focus into the property and the tenant’s needs.
How about us?
This is where we come in. iLet are Northampton’s premiere Lettings Agency, on hand to take care of everything from the first step, offering a comprehensive letting and property management service. We advertise the property, find great tenants and match a personal service to you through our professional lettings team. Or perhaps give us a call on 0333 577 0733 to see how we can make your life a whole lot easier!