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Tips for renting out a property

Sun 30 May 2021

Are you thinking of renting out a property for the first time? There’s lots to think about so here are our five top tips.

Research the local market

Find out what the going rate is for properties similar to yours in the local area and set a realistic rental price point. Research the type of person your house is most likely to appeal to, and then let this guide you in terms of furnishings and décor. A family won’t thank you for cream carpeting!

Get the property ready

Whether you are letting your property furnished or unfurnished, a deep clean is a good starting point, setting the standard for how you expect the property to be kept. Obviously, you will remove personal belongings and anything that is broken or simply past its best. Be sure to leave copies of instruction manuals and ensure you get enough keys cut.

Get the right insurance

As a landlord, you will need to amend your buildings and contents insurance to reflect the property’s new status. You may also decide to take out special landlord insurance to cover yourself against such risks as void periods, rent defaults or legal expenses.

Understand your legal obligations

There are well over a hundred laws that landlords need to comply with, covering areas as diverse as gas and electrical safety, the protection of tenant deposits or the energy efficiency of the property. There’s no need to be alarmed however, as your letting agent will be able to advise you to ensure you are within the law at all times.

Choose a good lettings agent

An experienced letting agent will be able to guide you through every step in the process of letting out your property. We can help you find the right tenants, deal with all the paperwork and then manage the property on an ongoing basis if you wish.

 

Give us a call on 01788 551111 to speak to a member of our lettings team.

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