Encouraging good tenants to stay saves you trouble and fees also pays off in the respect shown to the property.
Put simply – Landlords need to be kind and realistic to attract & keep good tenants and reduce costs / optimise yields.
There are numerous sensible reasons why a great many people decide to become Landlords to include of course the sorry state of current pension provision . Our society relies on the PRS ( Private Rental Sector ) for housing so we need good Landlords – and lots of them.
So here we go – but firstly.
To be a good Landlord you must treat letting houses as a real business and not as if you are graciously allowing strangers to stay in your property from time to time as paying guests.
So be good, be kind, be professional and in our view use a really good Letting Agent to fully manage your property ( we recommend Myrings !!!).
Here are some well proven ideas to help you be a good BTL Landlord.
- Don’t become a “ best friend” to your tenants.
- Don’t lightly let your property – if it’s to be a “commercial arrangement “ – to family or close friends
- Do repairs promptly.
- Don’t visit unannounced.
- Be mindful that it’s nice folk , not ex – cons , who are paying to live in your property.
- Provide good-quality fixtures & fittings.
- Don’t store any your own possessions in the property.
- Don’t try and do any quick DIY decorations yourself between lets – let Myrings ( Helen Ward – our Lettings Manager ) arrange things with trusted tradesmen who will be “ in and out “in a day.
- Don’t be too precious or afraid – if you are tolerant of very occasional mishaps then you can amicably inform the tenant – through your agent – that it’s unreasonable to ask for a call out late on a Sunday evening to carry out a hot water repair when all can be done first thing on a Monday morning.
- Don’t let your Letting Agent and Tenant be the last to know if you decide to sell up.
Don’t be inflexible – be reasonable – and work in harmony with your Letting Agent to find the best outcome for all parties.
For example – yes – you maybe prepared to allow a tenant to reassign a lease and leave early without penalty in certain situations , yes you will allow a permitted occupant to stay in the property for an agreed time , yes you allow into the property a pet provided the bond is increased and the tenant pays for commercial cleaning at the end of the tenancy etc .
Good Landlords don’t have voids – don’t suffer excessive “ wear & tear “ – and don’t struggle to gain access when they are re-letting.
It really is that simple , work closely with your Letting Agent , protect your investment , bank your rent and sleep sound at night.
If you wish to discuss the above or are interested in the Property market in Harrogate then please come along and see us and enjoy a free no obligation chat about the property services we provide.
