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Letting a Property Must Do for Landlords

Jan 4, 2013   //   by mecadmin   //   blog  //  No Comments

 

If you have a property and is thinking of letting your property, there are several things that you must do first. In this article, we will tackle the first steps we need to do to prepare our property for letting.

 

Letting a Property – Do’s for Landlord Lettings

  • If you are a landlord and using the services of letting agent or agencies, make sure that they have a money protection plan for their clients.

 

  •  It is advisable to hire the services of agents or agencies that are a member of any professional body such as as the Royal Institution of Chartered Surveyors, the Association of Residential Letting Agents, the National Approved Lettings Scheme or the Property Ombudsman. Member agents or agencies of such organisations are required to meet the organisation's standards to be able to become a member.

 

  •  Make sure that your agreement with the agent or agency is clear and the responsibilities the agent or agency is doing on your behalf are all listed and agreed upon.

 

  •  Make certain you inform your mortgage company as well as the insurance company of your property that you intend to rent your property to someone else.  There may be some restrictions on your mortgage or you might need to amend your insurance policy.

 

  • When you do find prospective tenants for your property, try to ask them for a reference from a former landlord if possible to reduce your risks

 

  • Make sure to have a written tenancy agreement. Remember to include your tenants responsibilities,  the length of tenancy and your payment arrangement.

 

  • Make sure to conduct an inventory before the tenant moves in . This will make things easier if there is a dispute over the return of the deposit at the end of the tenancy.

 

  • Make sure you are easily reachable and leave your contact details so that they can get in touch if there are any problems.

 

  • Protect your tenant’s deposit in one of the three government-authorised Tenancy Deposit Protection schemes. This is a legal requirement if you use an assured shorthold tenancy agreement.

 

  •  Provide all the necessary certificate such as gas safety certificate, Energy Performance Certificate (EPC) and so on.

 

  •  Keep your property well maintained and Make sure your tenants are safe by installing and maintaining a smoke detector and carbon monoxide detector for your tenants' safety.

 

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