Are you are thinking of renting a property yourself or letting a property out to others?
There are many things that you need to know before you even start; whether you are looking for a property to rent, or you are a landlord looking for a new tenant.
Communication between Landlord and Tenant
Buying and selling a house involves more issues and financial risks than renting. Even so being a tenant or a landlord has many important aspects and is not as easy as it sounds; so beware. The speed that everything happens is much faster than buying. Both landlord and tenant need to manage their communications carefully and professionally to avoid issues arising.
Research is Key for Landlords
Do lots of research before selecting a property. Ask local agents people who really know the area. Don’t rely on one person’s opinion. Once you have the property remember the market for tenants is very competitive, there are lots of people doing the same as you are. Keep your property looking smart, clean and well decorated. Keep the property free of personal colour schemes. Make the property look and feel welcoming to any prospective tenant. Properties that are maintained and presented professionally let more quickly.
Causes of stress between Landlords and Tenants
When all goes according to plan the relationship between the Tenant and Landlord is usually good but problems can develop. The main problems that cause Tenant and Landlords to come to blows are:
- Non or late payment of rent
- Problems of moving in
- Problems when moving out
- Not fixing problems in the property
Get it right at the start
The trick to successful renting and letting is more about getting it right at the start. It is essential to ensure that whether you are landlord or a tenant, you rent the property clearly aware of how the responsibilities are split between the landlord, tenant, and/or a letting agent if they are involved at any stage.
Treat your tenant as a valued customer, keep them informed about any work you are planning to carryout. Give them a daily update when any important maintenance issues arise that are unable to be fixed within 24 hours.
Prospective tenants with Pets and Children and those tenants who Smoke
If you have pets or smoke, be warned that it will not be too easy to find a property to rent. Most landlords will not allow pets. Pets are less predictable than people, so landlords are always nervous of the damage that they can cause as well as the left over odour in the carpets and curtains! If they will consider pets, they may want to meet your pets before they agree to let out their property.
Unfortunately smoke not only leaves an awful smell in a property that is difficult to get rid of, but it also causes walls to mark more easily and therefore costs the Landlord more money to clean, redecorate and possibly re – carpet.
A Good Lettings Agent can help.
A good property lettings agent in Peterborough will be managing many properties and so be familiar with all the issues which may arise and can help both tenants and landlords.
They can ensure there is a good agreement in place at the start of a tenancy, thus avoiding most problems.
If a enant has a problem the lettings agent can help communicate with the landlord and resolve the problem.
To support the landlord the lettings agent will often have knowledge of excellent local trades-people to help with maintenance issues or be able to advise regarding the correct process for dealing with troublesome tenants.
Hence in conclusion we would always recommend that both Tenants and