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Things to Do Before The Tenants Move In
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Make sure the property is clean and tidy, that everything's in good working order and that any furniture is practical, comfortable and meets safety standards.
Make a detailed inventory of everything in the house, noting any damage.
Put together clear, laminated guides to all appliances along with emergency contact numbers (what if there is
a gas leak when you’re on holiday, honestly some tenants would not know what to do!)
Set the rent. You should have decided this when applying for your mortgage, but check the local newspapers to make sure you're not setting it too low.
Finding a tenant
You might want to do this yourself by advertising
in local newspapers, work notice boards and so
on. Alternatively, you could use a letting agent
to manage your tenants for you. Shop around -
get quotes to find the best price and service,
and check whether they're members of ARLA - the
Association of Residential Letting Agents.
It's probably best to get tenants to pay their own bills, saving you hassle in the future. But you'll have to be clear about this when you advertise the property, along with any other restrictions like no pets or smokers. Make sure they have paid the bills before you give the deposit back!
Explain clearly the type of tenant you're looking for. It might be professional people only. It might be students - although you'll need to contact student services in the local colleges and universities first to get your property checked and registered.
If someone expresses an interest in the property, ask for detailed references and check them carefully. Once you've done this, you'll need to set up a tenancy agreement and have it checked by a solicitor and signed by both parties. This avoids any disagreements in the future.
Also ask for a deposit to cover any potential damage or non-payment of rent.
It's probably best to get tenants to pay their own bills, saving you hassle in the future. But you'll have to be clear about this when you advertise the property, along with any other restrictions like no pets or smokers. Make sure they have paid the bills before you give the deposit back!
Explain clearly the type of tenant you're looking for. It might be professional people only. It might be students - although you'll need to contact student services in the local colleges and universities first to get your property checked and registered.
If someone expresses an interest in the property, ask for detailed references and check them carefully. Once you've done this, you'll need to set up a tenancy agreement and have it checked by a solicitor and signed by both parties. This avoids any disagreements in the future.
Also ask for a deposit to cover any potential damage or non-payment of rent.
Managing your tenants
A friendly but professional relationship is best.
Make it easy by agreeing ground rules. Agree in
advance when and how the rent's going to be collected
(consider a Direct Debit Instruction or Standing
Order) and when you'll visit - give the tenants
24-hours' notice.
If anything goes wrong in the property, get it sorted out as soon as possible. Things like utilities, fixtures and fittings are your responsibility and fixing them quickly will keep everyone happy.
Don't forget that it's your property, but your tenants' home. Make sure they feel comfortable in it while they're there. It's a good idea to let them make slight changes to suit their taste.
Give the tenants good cleaning equipment and they're more likely to keep it clean and tidy. And don't forget the garden if you have one - give them a lawnmower for those sunny Sunday afternoons!
If you're not happy with the way they're looking after your property, tell them about it.
But if things don't get better, you're allowed to give them notice to leave (the notice period should be in the tenancy agreement).
If anything goes wrong in the property, get it sorted out as soon as possible. Things like utilities, fixtures and fittings are your responsibility and fixing them quickly will keep everyone happy.
Don't forget that it's your property, but your tenants' home. Make sure they feel comfortable in it while they're there. It's a good idea to let them make slight changes to suit their taste.
Give the tenants good cleaning equipment and they're more likely to keep it clean and tidy. And don't forget the garden if you have one - give them a lawnmower for those sunny Sunday afternoons!
If you're not happy with the way they're looking after your property, tell them about it.
But if things don't get better, you're allowed to give them notice to leave (the notice period should be in the tenancy agreement).