Are you a landlord with a property you’d like to rent out? Then it’s important that you ensure the property is in a suitable condition. In this blog, we’re letting you know how to prepare your rental property for the market.
Is now a good time to be a landlord?
Yes, now is a great time to be a landlord in England. Rental demand is high which is leading to higher yields in many areas of the country.
We ensure that all tenants have been correctly screened in order to best protect your investment. Some of our checks include employment checks, credit checks and referencing.
How to prepare your property for the rental market
Get to know the market
It’s a good idea to have a basic understanding of the rental market in your area and any legislation that you must follow.
Ensure safety in the property for prospective tenants
All properties must meet expectations regarding gas safety and electrical safety. Part of this may include appliances being checked every so often by a professional. You also need to ensure that the property is fitted with smoke alarms. All of this is the landlord’s legal responsibility, so it’s vital that you consider these aspects.
You must ensure that the property is safe to live in. This may include ensuring there are no issues such as damp and mould.
Obtain an EPC
An EPC must be completed by a professional and shows landlords and tenants the efficiency rating of a property. Many landlords find that their property appeals to tenants more when it has a better EPC rating. There are certain ratings that must be met, which you can find out more about in our guide to EPCs.
Right to rent checks
Once the basic safety requirements have been met, landlords must ensure that their tenants can legally live in the UK and can afford to pay the rent and bills on time. Part of this can be achieved through right to rent checks. It’s essential that you have reliable tenants.
Tenancy deposit protection
Tenants are required to pay a deposit when they begin renting a property. It is a legal requirement that these deposits are protected. The Government offers Deposit Protection Schemes which can be used.
Ongoing maintenance
All landlords will need to take care of maintenance every so often. It’s vital that you consider this and make plans for dealing with it.
Additional tips for a successful landlord experience
- Organise professional cleaning of the property before tenants move in
- Ensure a legally sound tenancy agreement
- Increase the property’s kerb appeal by decorating the home
- Consider the local area and the target market it appeals to (families, students, young professionals or other groups)
- Assess the area and whether it has high tenant demand before you purchase a property
- Assess how much rental income you need for the process to be worthwhile
- Decide whether you will supply furniture or not
Can anyone help landlords prepare properties?
We understand that this checklist takes time to complete and can often be stressful, which is why we’re here to offer our expert guidance and support at all times. We are your dedicated letting agent, supporting you throughout the whole letting process and ensuring that it’s stress free.
In addition to supporting you with the above, we offer furniture packages, which contain modern, comfortable furniture that is suitable for all properties. Find out more about our furniture packages here.
We also support landlords with all aspects of property marketing. Whether you need professional photography or engaging text to ensure that your property is presented in the best light possible, we can help.
We understand the unique needs and challenges of our landlords, and always strive for a positive experience. Find out more about our landlord packages here.
Are you looking to rent your property out? Contact us to find out more about how we can help.
