So You’ve Decided to Rent
We know it can feel daunting. And, yes, there are a few pitfalls for the unwary. But with us on your side, we promise you a truly flexible and professional renting experience. Our first, and most important, piece of advice is to get us involved as early as possible. Planning is key and it could mean you achieve a better rental price.
Getting the best return from your rental property….
Top tips from the professionals at Lets Rent:
- Make sure your rental property is clean and well presented, including the garden. If a tenant sees that you’ve looked after and value your property, they’re much more likely to do the same.
- The best tenants pay a market rent, look after your property and reside for the long term – this does not necessarily mean you should accept the highest rent quote, because it isn’t always the best choice. A high quote can mean your property will lie empty for longer, so take a sustainable view and this will offer the best all round returns.
- Remember that the rental market has seasonal variations and tends to be more active either side of Christmas, rather than in winter.
- We recommend landlords take out Landlord Insurance for your peace of mind. Remember- even good tenants can lose their job. Most major insurers offer this type of policy.
- Stay on top of maintenance and repairs by approving repairs when they’re requested. If the property is not kept in good condition, you can put off good tenants. Also make sure your property is well maintained after each tenant vacates; for example check for broken lights, door locks or tap washers.
- Make sure gardens are low maintenance and easy for the tenant to manage.
- Take out landlord protection insurance – even good tenants can lose their job.
- Clean out gutters and down pipes regularly.
- Make sure your home insurance is up to date, and includes public liability insurance. Your insurer must be specifically notified that the property is rented.
- Make sure your property is inspected for termites annually.
- Don’t forget that if your property has a water meter (99% of houses do; apartments are not separately metered), it’s the tenant’s responsibility to pay for their water usage. We can arrange the reimbursement from the tenant for this amount. New legislation comes into effect from 31st January 2011 which stipulates that all clients seeking reimbursement of water usage must ensure that their property is water wise.
- Stay on top of maintenance and repairs by approving repairs when they’re requested. If the property is not kept in good condition, you can put off good tenants.
- Respect your tenant’s privacy. Let them know when you plan to enter the property by asking us to contact them.
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Depreciation Schedule – Washington Brown
Land Tax – OSR .