As much as we’d like them to, tenancy – i.e. the possession of land or property as a tenant don’t always go according to plan. Making renting as a service a bit tricky.
Usually, the reasons for this are outside the landlord’s control. However, while it’s impossible to foresee every potential issue, there are measures you can take to prepare for the most common issues that might arise.
As we look forward to the remainder of the year: make your tenancy stress-free, by following our five top tips to ensure your tenancy runs smoothly.
1. Make Yourself Available
You see, it is believed that the wealthy – those owning properties to rent are busy people. Making it near impossible for the tenant and the landlord to ever meet. But, when first moving into a property, we have found out that the new tenants usually have a few questions.
Therefore we suggest that you, start the tenancy off on the right foot by making yourself available to answer calls, or perhaps meeting in person over the first few days to iron out the details. This means you can ensure your tenant knows everything they ought to know and need to know about the property they are renting out. Also, let them have a number they can call, so that in case of any problems they can reach you and you can have the problems sorted as quickly as possible.
2. Have a List of Reliable Local Contractors
In the likelihood that a problem has occurred as they usually do, with plumbing, electricity among others what then? If and when a problem occurs within your property, having your go-to people (contractors) saves time, energy and money.
This guarantees convenience for the tenant. Since your reliable contractors can sort the problems quickly and your tenant won’t need to go out of their way to find a contractor whom could end up costing you more.
3. Stay Up To Date with Regulations
Make notes or set reminders for when safety certificates are due to expire and book in repeat testing in good time to avoid falling foul of your statutory safety responsibilities.
You see, once the tenant moves in, she has entrusted you with her safety. As such it is prudent that you check safety requirements for they keep regularly changing, so it’s worth reading up on the latest regulations and keeping track of your spending and safety paperwork in case a problem arises further down the line.
4. Conduct Regular Inspection on Your Property
It doesn’t stop with your tenant moving in. Quite the contrary – you see, you need the tenant to have the best experience while on your property. For this to happen you need to make thorough follow-ups.
We advise that you call your tenants every now and then to check that everything is ok with the property. This will not only make you stay on top of any potential issues and conduct an annual inspection but also enables you to see for yourself if anything needs addressing.
Be the type of landlord that regularly touches base with your tenants. Go a step further and build up a good relationship with them, making you approachable meaning that they will be more likely to let you know of any problems and be more tolerable of any delays or difficulties surrounding rectifying it?
5. Detach Your Emotions Form the Tenancy Business
Treat this as a business transaction, not an emotional decision. When owning a property, it can be difficult not to have an emotional attachment to the building and to take any problems that occur personally. Ultimately though, the process of renting out a property is for the purpose of commercial gain, so viewing the situation objectively is key to having a successful tenancy!
So, have you found this post helpful? Let us know by leaving a comment below.