If you're thinking of letting out your house in the city, then you stand to make a good income as a landlord. There are however a few things worth bearing in mind, if you are to see a secure return on your investment€¦ not least of which would be to find a reputable company offering London property inventory services.
So, follow the guidelines, and you can be confident of success when you come to letting out your house:
1. Interview Tenants
There are a surprising number of landlords out there who don't carry out thorough checks on their tenants. While they might fit the criteria and have the money available up front, it is always worth meeting with them in person - creating a human connection not only better informs your choice, but it is also likely to leave them with more respect for your house.
2. Get Everything in Writing!
Sadly, 'gentlemen's agreements' just don't cut it in today's financial world. Make sure that anything you agree is backed up with signed contracts, or else you might find that words become meaningless further down the road. It's great to have faith in human goodness, but don't always count on it.
3. Maintain the House
When your tenants complain to you about a leaking tap, then fix it. Prepare to make this your full time job. There is nothing worse than a landlord who doesn't want to know about household complaints, and there is no faster way to alienate your tenants - this is when they are most likely to miss rent payments, or cause trouble for you. This is where a London inventory clerk would be very helpful in case in disputes occur.
4. Get an Inventory
To avoid disputes later on about the contents of your house and the condition they are in, be sure to get an inventory now. Plenty of companies in offer London property inventory services, and it's something that is bound to pay off later. Be aware though - anything that you list on an inventory, you are offering to provide to your tenants. This means that you may need to replace or repair such items, as necessary.
However, this might cost you some more money, but you will insure yourself with an independent property inventory London that will give you a neutral point of view if any argues and disputes about damages happen between you and your tenants.
So, follow the guidelines, and you can be confident of success when you come to letting out your house:
1. Interview Tenants
There are a surprising number of landlords out there who don't carry out thorough checks on their tenants. While they might fit the criteria and have the money available up front, it is always worth meeting with them in person - creating a human connection not only better informs your choice, but it is also likely to leave them with more respect for your house.
2. Get Everything in Writing!
Sadly, 'gentlemen's agreements' just don't cut it in today's financial world. Make sure that anything you agree is backed up with signed contracts, or else you might find that words become meaningless further down the road. It's great to have faith in human goodness, but don't always count on it.
3. Maintain the House
When your tenants complain to you about a leaking tap, then fix it. Prepare to make this your full time job. There is nothing worse than a landlord who doesn't want to know about household complaints, and there is no faster way to alienate your tenants - this is when they are most likely to miss rent payments, or cause trouble for you. This is where a London inventory clerk would be very helpful in case in disputes occur.
4. Get an Inventory
To avoid disputes later on about the contents of your house and the condition they are in, be sure to get an inventory now. Plenty of companies in offer London property inventory services, and it's something that is bound to pay off later. Be aware though - anything that you list on an inventory, you are offering to provide to your tenants. This means that you may need to replace or repair such items, as necessary.
However, this might cost you some more money, but you will insure yourself with an independent property inventory London that will give you a neutral point of view if any argues and disputes about damages happen between you and your tenants.