Have you always dreamt of becoming a landlord? Perhaps you’ve already invested in a house that you want to transform into a home for someone else to rent.
Well, our fantastic Lettings team are giving you the inside scoop. Here are Wards' top five tips on how to become a great landlord!
- Find an agent you can trust
We understand that finding the right agent to market your property is a big decision but try to choose one that always has your best interests at heart. After all, you need to trust them to find the best tenant for your property. Here at Wards, we cover references, safety checks, inventories, check-out reports, and utility company notifying – and we do all of this so you don’t have to!
- Do your research
The last thing you want to be doing is buying an investment property that nobody is ever going to want to call home. Have a chat with your agent to find out exactly what people are looking for. Do people want an extra room? Are they looking to be close to a station? Do they need some office space? Or perhaps, right now, having a garden is on everybody’s wish list.
- Presentation is key
Ask yourself if you would want to live in your own property. If the answer is no, then changing that should be a priority. What can you do to make your property feel warm, welcoming and make people want to stay? It might be something as simple as upgrading the carpets and giving it a fresh coat of paint but, if you need some guidance, we’re always happy to offer our advice.
- Make sure your property is legally ready
This is the boring, nitty-gritty part but, unfortunately, it’s also the most important. Make sure all your compliance certificates are up-to-date and your property is legally ready to rent. Do you have things like landlord insurance? It’s ok if you’re not 100% sure on all the steps, our agents will go over this with you to make sure you have everything you need.
- Now you’re ready to go
If you’ve followed all the above steps, you’re ready to go and find your new tenants. Research shows that tenants much prefer a more hands-on landlord, who is there to help. We have lots of tools available to assist you in being that great landlord. Here at Wards, we have a 24-7 maintenance system, where we have approved contractors that will be there for you and your tenants. We also have our fantastic landlord and tenant hubs, where you can see all your important tenancy information in one place, making it simple and easy for you.
If you’re thinking of becoming a landlord, get in touch with your local Lettings Department today and we’ll help you to take your first steps.