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How landlords can keep their properties occupied

Congratulations, you’ve decided to rent out your property! We know that this might be obvious but all landlords should try to keep it occupied at all times if possible. If you don’t, the mortgage, council tax and any other bills will be coming straight out of your own pocket and can mount up quickly.

In true Great British weather tradition it seems that the summer may have ended all too soon; with autumn and winter starting to creep in… It’s know in the property market that the colder months can be a hard time for landlords to find new tenants; but hopefully if you follow these tips you will never find your property unoccupied.

Use long term contracts

We’d advise to try and avoid six month contracts where you can. Having people come and go more regularly can be quite disruptive and one year contracts work much better for both landlords and tenants.

Once the contract is up, think about asking your tenants whether they would be interested in signing another contract. You don’t want to get into a rolling contract if possible; as it gives you less peace of mind, knowing they could up and leave at any time.

Think forward

Once you know that your current tenants are planning on moving out, try and visit your property as soon as possible to find out if anything needs fixing or replacing. Put the motions into place and get quotes for any new furniture or appliances; and book in contractors to carry out any work needed as soon as possible.

The best time to do up your property and give it a quick lick of paint is during the first week after tenants have moved out. This means the house will be available for viewings quickly, hopefully resulting in brand new tenants.

Look after your tenants

The easiest way to avoid an empty house is to look after your tenants as well as you can; after all a little kindness never killed nobody. This may sound obvious, but as a landlord it is easy to just ask tenants to sign a few contracts, hand over the keys and walk away.

However taking the time to build a relationship with tenants can go a very long way. It’s also important to try and solve any problems they may have as quickly as possible. That way if your tenants do move out, having a good relationship with them means you can ask them what the reasons behind their move are. If it’s something that can be changed you can do so before any new tenants move into the property.

Advertise

If you do happen to find yourself with an empty house, good marketing and adverts can make a world of difference when it comes to finding new tenants. It’s key to choose an estate agent that you trust and that lists their properties on major property portals such as Zoopla and Rightmove.

At Century Residential, our lettings team take pride in finding the most suitable tenant for your property in the shortest time possible. We understand how much your property means to you, so you can be assured that your letting will be handled professionally, efficiently and effectively. A large majority of our clients come to us through recommendations and that’s why client satisfaction and our reputation are immensely important to us.

Make it easy

The best way to get new tenants is to make it as easy as possible for people to find out about your property. We always try to work smart when booking viewings for our landlords; and always consider block viewing days, where we arrange for as many people as possible can come and look at it.

Need any help? Here’s our number 01634 570057

If you’re looking for help to not just list, rent out or manage your property, please come and speak to a member of our lettings team.

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A Guide to Letting Your Property

Becoming a landlord is not as easy as it may seem; there are several factors that need to be kept in check when you are letting a property. Letting a home involves a lot of preparation and requirements that as a landlord you must fulfil. At Century Residential, we like to give you the best information we can to prepare you for your future plans; so we have created an easy guide to help you.

Check with the lender if you’re on a mortgage

If your property is on a mortgage, you are legally bound to inform your lender about your plans to let the property. Some mortgages do not allow you to let your property; and other mortgages would require you to obtain a consent form before letting it out.

There are some instances where your lender may levy a fee or alter your interest rate when you want to let your property. So, the first and most important thing you must do as a landlord if your property is mortgaged, is to check with your lender about the rules and regulations that apply to your mortgage.

Decide on how long you want to let

Usually, corporate tenants tend to rent for two to three years; with the option to end the tenancy before the mentioned period if they wanted to. If you are looking to let your property for a shorter span, say about six months to a year; then you need to consider coming up with a competitive rent. This will ensure that the property is not left without tenants for too long. You will also need to consider your mortgage if you have one; as some only allow a tenancy for up to 12 months at a time.

Calculate your tax

If you decide to let your property, you are legally bound to inform HM Revenue & Customs as you will be liable to pay taxes. You will have to do a self-assessment tax return; and it may also affect the Capital Gains Tax when you decide to sell your property. You can take the help of a professional accountant, or speak to our lettings team who can connect you to the right people to help you.

Do the necessary renovations

First impressions matter. When you decide to let, make the property look attractive to impress any potential tenants. At the bare minimum, it is essential to declutter, repaint and clean the property before you let it. You can also do decorative and purposeful renovations if you are looking for a higher rental income. With over 200+ properties in our portfolio, we can advise you on redecorating your property for a quick let if you need any guidance.

Rental insurance

Finding the right rental insurance for your property is vital to cover any damage caused to the property or its possessions during the tenancy. While your tenant will be required to take contents insurance; as a landlord, you will have to invest in suitable rental insurance. This will be to cover the cost of the damages caused to the property, possessions in property, accidents or injury to the tenant, or any visitor to the property. It’s important to mention all the high-value items that you leave on the property; and pay the appropriate cover in order to claim any damages. It will also protect you from any loss of rent or breach of tenancy.

Safety checks 

It is mandatory to ensure your property is safe and secure before you let. The mandatory safety checks include a gas safety test, electrical safety test, and appliances safety tests. Smoke alarms must be fitted on every floor for the fire safety test. Only after fulfilling these tests can the property be listed to let.

Inventory list

We always recommend doing a complete inventory listing for all the items kept within the property to avoid any disputes when tenancies end. Appliances, furnishings and other items are mentioned in the tenancy agreement to keep track of your belongings while letting and at the end of the tenancy. 

Should you need any assistance, speak to our lettings team. They will be more than happy to talk you though how we can help you with this.

Finding the right tenant

We understand that being a landlord can sometimes be daunting; as it is quite challenging to find the perfect tenant. When the background checks are skipped, you might end up with unreliable tenants who skip or delay rent, cause damage to property, and more. It is essential to keep a solid background verification in place to select the right tenant who suits your requirements.

With so much to consider, landlords have quite a task when they decide to let their property. Proper documentation and finding the right tenant is the key to have a smooth tenancy. Remember, you can always get in touch with us to ease the process and help you through the relevant paperwork, whilst finding prospective tenants from our large database.

Contact us today

Looking to let your property? We’re on hand to help make the process as stress-free as possible. Call our team on 01634 570057 today to get started. 

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