So we’re a few weeks into January, and for many of us, those
New Year’s resolution promises seem a world away.
Whether you’ve managed to stick to your personal resolutions
or have already cracked, we have a few New Year’s resolutions for landlords to
ensure a successful 2016.
Be on the look-out
for high-quality tenants
Whether you’re a first-time landlord entering the industry,
or a seasoned landlord looking for your next batch of tenants, finding high
quality tenants is of paramount importance. When letting your property you're allowing someone
access to one of your most valuable assets, so it’s crucial that the right
people are chosen.
Now this can be done on your own, or you could instead
employ the services of an experienced Southampton and Portsmouth letting agent.
Here at ChimneyPots we have an extensive tenant-screening process, ensuring we
obtain a collection of references for each and every tenant, as well as
ensuring that their deposit is protected.
Furthermore, in Southampton and
Portsmouth tenant demand is extremely high, with young professionals, families and retirees just some
of the demographics choosing to rent in these areas, giving you the opportunity
to choose the cream of the crop.
Don’t be kept in the
dark when it comes to legislative changes
In 2015, several key changes to the lettings industry were
announced, shaking up proceedings for landlords. It can be difficult to keep up,
but it’s crucial that you are compliant. February 1st
is when Right to Rent checks come in to play for Southampton and
Portsmouth landlords; this means you must check whether new tenants
have the legal right to rent property in the UK.
Landlords must also be aware that they are now required to have at least one smoke alarm on each storey of let properties and a
carbon monoxide alarm in any room
containing a fuel-burning appliance. Alongside this, landlords
need also to be aware that they will be unable to claim the traditional 10% wear-and-tear tax
allowance on furnished lettings from April
this year.
Don’t get complacent
with repairs
It can be easy to neglect a rental property once tenants
have been found, but it’s crucial that your tenant’s don’t feel forgotten
about.
Make sure you or your letting agent pay your rental property
a visit regularly. If you see little niggly issues with the property, do not
leave it to escalate, but get the problem sorted quickly and efficiently. A
quick response to issues will work in your favour when tenants are weighing up
whether they will renew their tenancy.
Get organised
If ever there’s a time to get your admin in order, it’s at
the start of a fresh year. Start the year off by completing the dreaded and
arduous task of completing your year’s tax return before the January 31st
deadline, if you haven’t already done so.
Also, an organised landlord is often a successful landlord,
so now is the time to locate your important documents such as completion
statements, invoices of work carried out, mortgage statements, copies of an
inventory; and ensure they are in order and kept together.
If this all sounds like too much hassle, and something which
you don’t have time for, then letting agent ChimneyPots
have experience in handling all things letting-related, and can manage as
little or as much of the letting process as you require.
If you would like to have a chat with us about how we can
help you kick-start the lettings process, then why not get in touch with us today?
http://chimneypotsestateagent.co.uk/new-years-resolutions-for-southampton-and-portsmouth-landlords/
