With the number of tenants outweighing the amount of landlords offering property, now could be a good time to buy-to-let. ALISON COULDRIDGE looks at some tips on how to become a good landlord...
Becoming a landlord could seem like a daunting task. But following a few simple words of advice could easily ensure that a property can be let out relatively hassle-free.
In a recent survey by the Association of Residential Lettings Agents (ARLA), it was found that there are now a record number of tenants looking to rent and not enough properties for them to occupy, which makes it an ideal time to buy-to-let.
There are two main avenues a potential landlord can take when looking to rent a property. One is to rent independently and the other is to go through a lettings agency.
James Pullen, senior lettings negotiator at Drewrey Property Services in Sidcup believes that people thinking of renting out their property should seek advice from a reputable agentbefore they venture on the landlord path.
He says: "Anyone deciding to let through an agent should first check they are registered with a recognised professional body such as ARLA. this will ensure ther are dealing with trained professionals."
James also advises that once the landlord has the property ready, they should seek to get a market appraisal to find the correct rental figure. Then the landlord should ensure the property is clean, tidy and ready for tenants to move in. They should also make potential tenants aware of exactly what appliances and furnishings are remaining at the property.
Landlords should also be aware of safety regulations that apply in the course of letting their property, especially the need to comply with the Gas Safety Regulations act, 1994 and also the Fire and Furnishings act, 1993. For further advice on complying with theses, do contact an ARLA agent. Landlords are also strongly recommended to organise an inventory of the property prior to a tenant moving in as they are essential in helping to alleviate disputes regarding deposits."
Landlords should ensure if they rent their home through an agency that tenants are fully vetted and references are obtained. Only when they are happy with the tenants found should the landlord proceed to let their property.
James concludes: "by following a few simple guidelines, landlords can ensure their property is let quickly and a good tenant is found."
For more information on how to rent out a property visit the website arla.co.uk or contact Drewery Property Serviceson 020 8300 6761.
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