Tips Private Landlords Need to Follow While Renting Out Their Property or House

Posted by Ivo Moravec on July 3rd, 2018

Many people think over over the idea of renting out their homes. It can be considered as an extra source of income. Different landlords have different motives of renting out their property, but without appropriate consideration this plan can cause great trouble.

Landlord has a great responsibility to keep their tenants happy. Taking proper care of the rental property plays a huge role in keeping everything content. Performing regular maintenance, following all health and safety codes, maintaining property insurance and many other things are a part of landlord’s responsibility. Here are some effective tips that will get you going in the right direction –

• Prepare your home at its best – A thoroughly clean property with all appliances in working and good condition is the first choice of tenants. Because of increased availability of rental homes and high expectations, tenants are usually very choosy while looking for a rental property. 

• Proper advertisement – Renters are now switching to digital means for searching their property. List your rental property onlineis thus a good way to enhance its reach. 

• Maintain proper insurance of the property – As a landlord it is important to maintain the correct amount of insurance for the property. This is essential to save it in case of damages like fires, floods, or even a ‘slip and fall’ claim. 

• Pay mortgage and taxes timely – If you have taken out a mortgage on the property you should be responsible to pay this amount back within the given time frame. Along with this timely payment of the taxes is also very essential.  

• Perform property maintenance and repairs – It is always a responsibility of the landlords to perform regular maintenance and repair of the property. Also it is best to hire a licensed professional ensuring that all work is done properly.

Apart from all these things, careful screening of the tenants is also very essential. It is also a good option to gather references & check credit scores before making any decision. Renting a home is beneficial for both the owner and tenant. It becomes successful when you take the time to address and avoid the potential pitfalls. 

About the Author:

Ivo Moravec is the founder of Withoutestateagency.co.uk. The main aim of the company is to create a platform for the house owners, tenants and buyers where they can easily interact with each other and elude regulations from third parties. If you want more information on rental property in London, UK or property sale in the UK, visit withoutestateagency.co.uk.