Real estate

What to do before you let out your property

  • 20 Apr 2021

More and more people are renting property due to the increase in house prices. Many people become landlords when they decide not to sell their property and opt for renting instead. Demand for rental property is at an all-time high, but what should you do before you rent out your property? 

Ensure the property is clean and habitable 

Make sure all surfaces inside the property are clean and habitable for potential tenants.  

Are you opting for furnished or unfurnished? Furnished properties gain more traction from those looking to let as they won’t have to find their own items of furniture, especially if they are only staying for a short lease time. However, if you provide the furnishings these need to be up to standard and safe. You also run the risk of these furnishings becoming worn or damaged over time.  

It might also be handy to get content insurance if you do provide furniture. This will cover you against any theft and damages. 

Do you mind if the tenants decorate? If you don’t, make sure that you stick with neutral colour schemes. This will draw in more potential tenants and give a more spacious feel to the property.  

Property

Make sure it is safe

Ensure the property is safe and in working order for someone to move in. There should be no visible leaks or damp which can affect the health of the tenants, the boiler should be in service and the electricals should be professionally checked over before anyone moves in to make sure that there is no risk of fires or electrocution.  

Any carpets that aren’t correctly laid will need to be repaired or replaced before the tenancy starts as this could cause a trip hazard. Toilets, baths, showers, and sinks should also be in full working order.  

Research 

Find out what other landlords in your area are charging for their properties. Have a look online to see what they are offering, and it might help inspire you if you’re stuck for decorative ideas.  

This also gives you a good idea of what to charge your prospective tenants as well as how much your property is worth. Don’t forget to aim for a competitive price, this will help you stay ahead of the market and make tenants want to stay with you for longer.  

Use a letting agent 

Find a reputable letting agent that can support you with your lettings. This can be incredibly useful if you don’t have the time to manage the property yourself, or you are not familiar with legislations.

Letting agents will deal with all your tenant queries for you, so that you don’t have to be at their beck and call if something goes wrong. It’s important that you know your rights as a landlord and also the rights of the tenants in your property. If you wish to enter the property for example, you need to give the tenant at least 24 hours’ notice.  

Above are just a handful of things to do before letting out your property. There are plenty of tools online to help you make a decision that best suits you.

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