Tenants make up their minds relatively quickly, which means first impressions count. Itís vital to make sure your property is looking good in and out. Make sure that your existing tenants aware that there will be viewings and that the property is looking its best.
Knowing your target market:
Before undertaking any major improvements to your property, research your target market. This will ensure you make the right decisions and make the changes to your property, which will appeal most to your prospective tenants and help you achieve the best rental.
Having the correct consents:
It's good practice to make sure you have all the correct consents and licences in place prior to letting your property. Your mortgage company and freeholder (if your property is leasehold) may need to be informed. In some areas you will also need a licence from the local council. It is best to check these things as early as possible.
Itís a good idea to make sure youíre up to date with the ever-changing tax legislation, so that youíre not paying too little or too much. A good accountant should be able to help with this.
To legally qualify your property will need the necessary certificates in place. If your property has a gas supply, appliances in the property must be inspected before a tenant moves in and annually thereafter, in compliance with Gas Safety (Installation and Use) Regulations 1998. A Gas Safe registered engineer must carry out this inspection. If you have any electrical equipment this must be tested by a qualified engineer to comply with Electrical Equipment (Safety) Regulations 1994. It's also a legal requirement for your property to have and Electrical Performance Certificate (EPC) before marketing. Clever Property are more than happy to assist and organise any of the documents mentioned.
Tenancy deposit schemes:
Any security deposit taken from a tenant must be registered under one of the available tenancy deposit schemes within 30 days as part of The Housing Act legislation. further information can be found here:
The Tenancy Deposit Scheme - www.tds.gb.com T: 0845 226 7837
The Deposit Protection Service - www.depositprotection.com T: 0844 472 7000
Tenancy Deposit Solutions Limited - www.mydeposits.co.uk T: 0844 980 0290
Of course Clever Property are more than happy to help with all of this.