As a landlord, you have to contend with the various laws guarding tenant welfare. Prospective tenants are also choosier, especially those who can afford premium rents. This means that you have to go the extra step to prepare your property properly and follow the right steps when renting out so that your welfare as a landlord is safeguarded as well. Here are some useful guidelines on what to do to attract quality tenants and fill your vacant property the right way.
Repairs and cleaning
If you are renting out a property that has been in use, you can expect a degree of wear and tear. Basic repairs can change the look in a big way. Some of these basic repair and face-lifting jobs include:
- Filling dents, cracks, and chips on the floor and walls.
- Sprucing up the walls – Remove old wallpaper, art, and other decorations. Apply a fresh coat of neutral paint if needed
- Polish the floor – A hardwood floor should be stained again, polished and buffed to a shine
- Change fixtures – Items like kitchen and bathroom faucets and bulbs, and doorknobs can make the house look as if it has undergone a mini-renovation.
After these basic repair and facelift jobs, the house should be cleaned from top to bottom. It is advisable that you engage a London tenancy cleaning service to do a professional job. This will guarantee that the job is done right the first time.
Prepare the paperwork
The fact that the law is involved means that you have to get your paperwork properly. This is to safeguard you against badly behaving tenants. It is advisable to engage a lawyer when preparing the paperwork. Some of the items you need include:
- Tenancy application forms
- Tenancy agreement
- Tenancy terms and conditions for vacation and eviction
Set the rent
There are many factors that guide you when setting the rent including location, ease of commute, social amenities and facilities in the area, class of residents and so on. Research the rents in the neighborhood by looking up a few real estate sites of agencies operating in your locality.
Place the ad
There are several options for placing the ad. You can do it on free sites like Gumtree, Craigslist, and Easy roommate. You can also contact a property site for a fee. The advantage of a paid ad is that you can be sure your ad will be shown to the right audience.
Showing and choosing your tenant
You can do preliminary interviews with prospective tenants over the phone. Invite those who sound serious and narrow down to your ideal tenant.