Are you currently renting or looking to rent out a property?

Here are a few handy tips and things to consider to make sure you are getting the most out of it.

Firstly have you checked the rental demand in the area?

What is the competition?

This mainly starts with checking out the competition. Can you see the standard of properties vs rental income being achieved. Subjectively consider where you property sits between these two things.

Have you done your market research?

Do you know the area? What is the tenant demographic? Is there a demand for housing and do you think the rent your looking for is achievable? Look also at things that may make renting your property difficult to rent out such as parking or transport links, this allows you to market for the right tenant that this wont be an issue for.

Have you spoken to other property landlords or letting agents?

Speaking to people in the rental market on a daily basis gives you a good indication on your property and how quickly it will rent out.

Property Refurbishment and maintenance

To find good quality tenants you need to be providing good quality housing to align. There are many landlords that buy properties straight off the market and don't plan on adding any value or making any renovations. This however can sometimes be a problem as a light refurb makes a property look fresh, tidy and most importantly in good condition for a new family. When comparing to other properties on the market, it can often result in it being harder to rent or not achieving the income desired if left looking tired.

Can you add value to the property?

Is there anything you can do to raise the standard of the property? Is the kitchen and bathroom in good condition, do any walls need painting, would replacing the carpets improve the finish. All of these things really do make a difference to a new tenant. If you provide a good quality house then from a tenants perspective they will look after it as they appreciate what they are getting.

Are there any maintenance issues?

We always recommend sorting any maintenance issues prior to a tenant moving in. You want to start out on the right step. It sets a poor foundation when tenants move into properties that have a whole list of repairs to be completed. These are the relationships that can break down over time too as it leaves the tenant feeling like the landlord isn't bothered about fixing/helping.

Are you providing appliances?

This is often a straight yes or no. Remember if you provide appliances you are responsible for repairing them if they break down. You need to check if providing appliances will make them more desirable and make a difference to the rent too.

For more information on renting out your property check out our website www.emlets.co.uk or give us a call on 01482 241261