Property letting advice for landlords

Preparing to let

• Don't get personal. Stick to neutral colours that will go with anything. For example, a red sofa might not match a green carpet. However, all colours look good on beige.
• Stick to a common theme on all your properties, e.g. magnolia walls, white ceiling, white six panel doors etc.
• Carpets - light beige looks great when clean. Light colours make rooms look lighter, brighter and bigger. They also encourage cleanliness and are easy to justify cleaning when a tenant vacates. Look for felt backed bleach cleanable carpets which cost around £5.99 per metre and do not require underlay. Replace carpets every 3-5 years and get carpets cleaned every time a tenant moves out. You could consider recovering the cost from the tenant's damage deposit.

If letting yourself:

Join your local Landlords' Association.

• This is the easiest way to keep up with legislation and to obtain advice on getting your paperwork right (tenancy agreements and notices etc.).
• Other landlords in your area will be keen to share good and bad experiences. Learn from their experiences rather than making your own mistakes.

Documentation

• Obtain full details including names, addresses and contact numbers of referees and emergency contacts. Also obtain previous addresses, NI numbers, employer details and proof of earnings. This makes life easier if you ever need to track down an absconding tenant.
• Fill in an application form at the prospective tenant's home in order to see how they look after it.

Fees

• Charge a fee to tenants of around £100 for completion of tenancy agreements, referencing, inventory etc.

Deposit

• Take 5 - 7 weeks rent plus one month's rent monthly in advance. Tenants often cancel standing orders on the month prior to final payment - if this happens you still have some money to cover damages.

Check in/out

• Prepare an inventory - include everything stating the colour, condition of walls, ceilings, doors, fixtures & fittings etc, and get it signed so you can prove damages when the tenant vacates. The more detail, the better. Even include the colour of light switches and door handles and what they are made of. Comments like "carpets have just been professionally cleaned" or "walls are freshly painted" will also help to prevent disputes on checkout.
• Ensure that you arrange a checkout inspection and make sure the tenant is present - get them to sign confirming any damages and/or required repairs.
• Complete utility meter checks and ensure the incoming/vacating tenant signs to confirm meter readings.
• Inform the utilities companies and local authorities in writing of incoming/outgoing tenants and any applicable meter readings.

Look after your tenants

• Happy tenants will respect your property and will refer other potential tenants to you.
• Remember, it's the little things that make a big difference - birthday cards, fast responses to problems, etc.

If the above is not cost effective or convenient for you, then you should seriously consider employing the services of a property manager.

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