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Factors to consider when letting a property

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Sun 13 Dec 2015

Factors to consider when letting a property

If you are a first time letter you may be seeking further information on what factors to take into account when letting a house. We have put together a brief list of things you should consider before letting a house to ensure that both you and your tenants are satisfied:

-          First of all, consider your target market. What kind of property do you have and who would it best suit? For example, is it a family home or a one bedroom flat? Are you putting your property on the market furnished or unfurnished? Aspects such as this can be a factor in determining the rental price and how you choose to present or market the property.

 

-          First impressions really do count, so make sure to prepare the property. It is paramount that the property is clean, tidy and in a good condition. If there are repairs that need doing, it is best to have them done before moving a tenant in for both your convenience and theirs. An attractive looking space holds a lot of value - people need to be able to see the space as their own, and therefore neutral colour schemes are perfect with simplistic furnishings.

 

-          Health and safety is very important, from gas servicing to electrical appliances. It is your duty as a landlord to ensure that all these are safe and in working order and maintained throughout the tenancy. All appliances and furnishings should also be marked under an inventory so that you have a comprehensive list of everything within the property for future reference. The council may carry out a Housing Health and Safety Rating System (HHSRS) inspection if they believe your property to be hazardous to tenants.

 

-          If you choose to use a letting agency to get your property on the market or manage your property, you will need to decide what level of service you require. The options we offer are advertise only, tenant find service or fully managed - this will all depend on how involved you wish to be with the property. Using a letting agency can make it easier for you, ensuring that you abide by laws and can easily access any advice you may need.

 

-          Assess the location, if you are looking for a Buy-to-Rent property one of the key features is location - this can affect everything from the rental price to the type of tenant. Even if you already have a house ready to rent, it is good to have a sufficient knowledge of the area and other rental properties available to know the competition and set a competitive price. 

If you are looking for a letting agency to rent my home, Winkleigh, we have the perfect services tailored to you, so why not enquire today to find out more information?

 

Image: MarkMoz under Creative Commons