5 Things Landlords should be doing by 2022

Landlord

Here are the 5 things that landlord should be doing by 2022.

 
1.  Marketing your Property Online
Today, most tenants look for a rental property online. In order to reach wider audience and to attract tenants, you should market your rental property online.
When posting your rental property online, make sure to put clear descriptions of the property as well as clear photos of the property.

2.  Having a good tenant qualification check

Finding the right tenant is important to make the property look nice and making sure that the rent is paid on time. The very best way to make sure that you are getting the most qualified renters is to have a thorough background and credit check before accepting the tenant.

What are the things that you should be asking your prospective tenant?

• Why are you moving?

You would want to know the reason why the prospective tenant is moving.
If one of the reasons is disagreements from previous landlords or neighbours, you should be wary.

• When are you moving in?

You would want to know if the prospective tenant can immediately fill the vacancy.

• What is the length of your stay?

You will want to know if the prospective tenant has a plan to stay longer or if on a short-term let.

• What is your monthly income?

You want to be sure that the potential tenant has the ability to pay the rent. So ideally the tenant should a monthly income 3 times the rent.

• Have you ever been evicted?

You would want to know if the prospective tenant had been evicted because it can be predictive behavior for the future.

• Do you want any pets?

If you don’t allow pets on the property, then it saved you both yourself and the applicant the time and effort of an unnecessary viewing.

• Do you smoke?

Smoking can cause damage to the property. You may want to include this in the tenant agreement and make sure that the prospective tenant is aware of the rules.

• Who would be living on the property?

Make sure that you know the number of people who would live on the property and that you do not exceed the legal limits. Also, it is important that they have the right to rent.

3.  Market research
In order to stay competitive in the rental market, you must offer a good rental rate. The best way to make sure that your rent price is fair is to do your due diligence.

4.  Invest in Efficient Appliances
If you are providing white goods to your letting property, it would be logical to provide efficient appliances.

5.  Work with a professional Property Manager
Working with a Professional Property management company like Bluestone Properties would be a great option for you.

We can help you with everything from a screening of tenants, to collecting rent and managing your rental property. A property manager might be the best solution for you.
 
If you want to work with an experienced letting agency and property management company, call us on 0208 355 3405.

---