Not everyone decides to sell when they want to move from their old home and to pastures new. In many cases, people decide that rather than sell their old property, they’ll rent it instead. This can be a great way to generate new income and keep your hand in the property market.
However, if you do decide to put your home up for rent, what do you need to do? Here are some tips from House Network that will help to make the transition and soon as possible and get you interviewing prospective tenants!
Be Aware of Your Responsibilities
As a landlord, you will be held to governmental rules and standards, and you will have certain responsibilities to your tenants. It’s important that you understand these thoroughly and are prepared to adhere to the law.
For example, you need to make sure that gas and electrical appliances supplied by you are safe and correctly maintained. You’ll also need to provide the property with an energy certificate and ensure that there are no safety or health hazards on your property.
Redecorate and Clean
Rented properties tend to have a neutral décor, which makes sense. As someone is renting from you, they won’t be redecorating, but I wouldn’t be fair to push the old décor onto people that are likely to have very different tastes to you. It’s time to declutter and depersonalise your home and make it more marketable.
Keep things simple and spacious, with the provision of basic furniture if you are offering a furnished property. Light, neutral colours and plenty of light and space will make your place more appealing to people looking to rent. The house is not about reflecting your personality, and this should be clear in the décor.
Fix It Up
It’s time to get all those annoying little repairs and fixes around the house. No one will want to rent your house unless they have reason to believe that it’s been well looked after. A well-presented and well-maintained house suggests a competent, attentive landlord, which is what tenants are looking for.
So, if you have any issues with faulty wiring, chips in the wall, damp and so on, now is the time to get it all fixed and in top condition. It will contribute to your initial costs, but once you’ve got your tenants in the repairs will pay for themselves. Once you’re officially a landlord, you may be called out to deal with repairs and emergencies from time to time, so ensure that you’re prepared to provide a quick, efficient service. Many landlords do the jobs themselves, but some find third party services and work with them regularly in the event of something going wrong with a property.