rentals - landlords
As a landlord, you don’t need us to tell you your business so we thought a few of our golden rules might do the job.
If you have bought off plan in a new development, don’t expect to achieve your target rent straight away. Larger sites can complete over a period of a year or more and you will not achieve the best rents whilst communal areas and landscaping remain incomplete. Build this into your plan early on so that you are not disappointed later and review your rent at each tenancy renewal.
Don’t be over ambitious with rent increases. Your period of greatest risk is between tenancies so it is worth working hard to keep your tenants in place- don’t scare them off with huge rent increases and offer them an incentive to stay. Double check that your rent is in step with the market and nearby properties.
Make sure that your apartment is well presented and that the furniture is of good quality. Prospective tenants tend to make a fairly instant decision and will be influenced by good presentation and quality interiors.
Don’t get personally involved in the tenancy- this creates confusion in the lines of communication and will frustrate your agent. Under no circumstances should you visit the property unaccompanied and without notice- this is likely to be a breach of the terms of the tenancy.
If you would like a more detailed discussion about the letting of your property, please complete the enquiry form or email let@cityliving.co.uk.
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