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Follow on Google News | Six steps to success (for landlords)The experts at Belvoir reveal six easy ways to be a good landlord...
By: Belvoir Giving your tenant a warm welcome and providing key information about the property and the tenancy before it begins is extremely useful for both the tenant and landlord... and some landlords like to provide a handy ‘welcome pack’ too. “Creating a ‘welcome pack’ helps tenants understand how to work appliances, such as boilers, and helps them to settle into a property quickly,” “The landlord can produce a folder with copies of instructions for appliances left in the property, plus provide information on when bins are collected, where the stop cock is located and other relevant facts. They should make a duplicate of the file in case it is not returned when a tenant vacates.” Proprietor of Belvoir Southend-on- 2.) Clear communication Good communication between a tenant and landlord is vital for a successful relationship... and tenancy. “Establishing a good level of communication with your tenant can be beneficial as it will help them feel respected,” “Lack of communication can be a common reason why a tenant decides to leave,” Breaking down the communication barrier can also help resolve issues quickly and will help you identify any problems with the property or tenancy. “Good communication, along with sincerity over the tenant’ “It also enables the landlord or agent to act quickly on possible property issues and allows them to give the appropriate notice for any work needed. “A history of good communication is also beneficial if rental payment problems arise – a relationship built on openness and good communication gives you scope to help, resolve and provide advice going forward.” 3.) Repair and refresh “If a property is well maintained then there will be less chance of large maintenance issues arising later,” “Cosmetic facelifts are also useful,” Wayne agrees. “On-going maintenance means it’s less likely that a major issue or upheaval will occur. If an item of maintenance goes unaddressed problems can get considerably worse. “Keeping on top of maintenance issues is highly beneficial for landlords as it can help them avoid large bills for major works, plus it also helps create happier tenants who will take pride in the property and will want to look after it.” 4.) Firm but fair Firm but fair landlords have good relationships with their tenants... but aren’t afraid to act quickly if a problem occurs. “Items such as the Tenancy Agreement and rent payment dates, for instance, must be clearly defined from day one and tenants should be made aware that there may be a ‘late rent’ interest rate applied to the rent,” “However, in addition to being firm, a landlord should also be fair,” 5.) Quick response Being able to deal with unexpected issues is vital but, as most problems happen when you least expect them, it is helpful to supply your tenant with contact details for use in an emergency. “A tenant needs to know that they can get in contact with you should they need to but, of course, being available out-of-hours can be tricky,” “This second-party needs to be someone who can consider the budget (for repairs, for example) and make a decision out-of-hours that will minimise your costs. “Responding quickly to problems can help build trust and confidence... and having a healthy relationship such as this can help motivate tenants to look after the property better and possibly stay longer too.” 6.) Expert help Instructing a specialist property management agency, such as Belvoir, to manage the tenancy for you can be highly beneficial for many landlords. “A letting agent can manage a tenancy and do many of the jobs expected of a landlord,” The services of a good property management agent can be a lifeline for landlords with little time – or a simple solution for those who simply want a little extra help... Belvoir Lettings now have more than 140 offices nationwide. To find your nearest Belvoir office, visit their website at www.belvoirlettings.com End
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