Being a landlord is tough, but if you’re organised, well funded and employ the services of a good letting agent, it can be very easy and lucrative. Being financially secure is the number one consideration for any investment.

You wouldn’t want to pay above the odds for an investment that you can’t afford, so the first step in how to build a property portfolio is to assess your financial status, then continue to buy as you’re able to – stretching yourself as much as possible, while staying within the means of your situation.

Before a property can be let, there are several matters which the owner will need to deal with to ensure that the tenancy runs smoothly, and also that he/she complies with the law.

We provide summarised information below. If you require further advice or assistance with any matter, please do not hesitate to contact us:

Preparing the Property
We have found that a good relationship with Tenants is the key to a smooth-running tenancy.  As Property Managers this relationship is our job, but it is important that the Tenants should feel comfortable in their temporary home, and that they are receiving value for their money.  It follows therefore that a well presented and maintained property in a good decorative order will go towards this, whilst also achieving a higher rental figure. Tenants are also more inclined to treat such a property with greater respect.

General Condition

Electrical, gas plumbing, waste, central heating and hot water systems must be safe, sound and in good working order. Repairs and maintenance are at the Landlords expense unless misuse can be established. Interior decorations should be in good condition and preferably plain, light and neutral.

Furnishings

Personal Items, Ornaments etc
Personal possessions, ornaments, pictures, books etc. should be removed from the premises, especially those of real or sentimental value. Some items may be boxed, sealed and stored in the loft at the owner’s risk. All cupboards and shelf space should be left clear for the Tenant’s own use.

Your property can be let fully furnished, part furnished or unfurnished. Which of these is appropriate will depend on the type of property and local market conditions. We will be pleased to give you advice on whether to furnish or not and to what level. As a minimum you will need to provide decent quality carpets, curtains and light fittings. Remember that there will be wear and tear on the property and any items provided.

Gardens

Gardens should be left neat, tidy and rubbish free, with any lawns cut. Tenants are required to maintain the gardens to a reasonable standard, provided they are left the necessary tools. However, few Tenants are experienced gardeners, and if you value your garden, or if it is particularly large, you may wish us to arrange visits by our regular gardener.

Cleaning

At the commencement of the tenancy the property must be in a thoroughly clean condition, and at the end of each tenancy it is the Tenants’ responsibility to leave the property in a similar condition. Where they fail to do so, cleaning will be arranged at their expense.

Keys

You should provide one set of keys for each Tenant. Where we will be managing we will arrange to have duplicates cut as required.

Mortgage

If your property is mortgaged, you should obtain your mortgagee’s written consent to the letting. They may require additional clauses in the tenancy agreement of which you must inform us.