Thinking about becoming a landlord?
February 23, 2021
Thinking about moving? Why not hold onto your asset and rent your property!
The rental market is crying out for new properties to become available. There are lots of tenants that could be waiting for a property just like yours, so letting out and retaining your asset could be a great idea, with the right guidance. Matthew Hemingway MARLA is a Senior Rental Valuer at Richard Kendall Estate Agent. Here are his tips, pointers and advice in successfully renting out a property.
As a Landlord, there are certain obligations that you have to meet:
- keep your rented properties safe and free from health hazards
- provide an Energy Performance Certificate for the property
- protect your tenant’s deposit in a government-approved scheme
- check your tenant has the right to rent your property if it’s in England
- provide your tenant with a copy of the How to rent checklist when they start renting from you
Before you start, there are also the rights of a tenant to consider which should be outlined in a tenancy agreement – as not doing so may result in a fine, or even prosecution.
Some of the basic rights that tenants should enjoy include:
- Live in a property that’s safe and in a good state of repair
- Know who their landlord is
- Have quiet enjoyment of the property
- Have copies of all up to date certificates
- Be protected from unfair eviction and unfair rent
It pays to be qualified
Using an experienced letting agent will make sure you remain compliant and up to date with ever changing legislation. An ARLA registered letting agent is a good idea as they provide a professional service and they can guarantee your property and income will be safe or you’ll be compensated if something happens. It also offers additional protection for tenants. It makes sense that they will probably prefer to use an ARLA qualified agent and so as a landlord you’ll get a larger number of tenants browsing your property.
Check out the Landlords section of our website to see the services that we offer.
A happy tenant is often the key to a successful tenancy.
If you want to manage the property yourself then this could also be an option, however, there is a lot to consider and it is very important you get the correct advice and get things right from the start.
So the first step is to contact us. You may then want to arrange a free no obligation valuation. If you decide letting out your property through a letting agent is the best option for you, then the property can be marketed straight away.
It is that straight forward!
To discuss becoming a landlord please contact Matthew or any of the rentals team on 01924 260022.