Posted by Admin - 25/04/2016
One of the biggest calamities landlords face is tenants not looking after their properties decently. This can lead to major disputes and leave either party in financial hardship. Here at 9yds we have devised a list of things you can do to avoid this.
Your tenants are the first thing that must be considered. Do not rush the vetting process, if there are any indications that this applicant may be a liability do not risk it! Make sure your tenants are properly referenced and it might even be a good idea to contact their previous two landlords, to find out if there were any misdemeanors during their last tenancies.
Accidents do happen and although taking out landlord insurance is not legally obligatory, it is strongly encouraged to shield you and your assets, however, most mortgage lenders will require that you do so.
Inventory reports are immensely important, not only because it provides you with clear evidence as to how the property looked when the tenant moved in, but it also illustrates to the tenant that you expect the property to be in the same condition at the end of the tenancy.
You will need to make sure when you ask tenants for a deposit you ask for a sensible amount, enough to safeguard you in the event you run into concerns in the tenancy. A practical amount would be equivalent to a months’ rent and you should convey to the tenants that should there be any damages during the tenancy, the deposit will be used to cover this.
It is a good idea to communicate with the neighbours of the property. If you build a good relationship with them the likelihood is they will inform you of any suspicious activity at the property including anti-social behavior and sub-letting.
Lastly, ensure you carry out routine inspections so that you can keep an eye on any maintenance issues that may have gone unnoticed or the tenant may have just simply neglected to inform you. It may be beneficial to put a clause in the tenancy agreement that states the tenant is liable for any further damage that occurs as a result of not reporting the issue. It goes without saying that it is not a good idea to leave any items of expense or personal value in your property and when choosing appliances and furnishings, make sure they can withstand heavy usage.