11 Tips for Landlords in London When Renting a Property

The demand for new accommodation in London is not something out of the ordinary. In fact, a greater percentage comes from all those students who wish to start a new session/term, graduates searching for jobs, and families considering relocatingnearer to schools. With so many tenants aiming to secure a comfortable abode before the busy time of the year commences, this makes it challenging for many new tenants to seal the deal of a property they like, especially since the competition is high.

In some London areas, midsummer and the early commence of autumn are the peak periods where people contact East Dulwich estate agents for lettings. Keeping this point in mind, as you go through this guide, it will help you to secure a smooth letting process, during such busy times. Right before you accept a tenant, rest assured you have several requirements that you need to cover. Some of these are crucial to the landlord’s security and others for tenant well-being. However, each one the requirements have to comply with the regulations of the government.

A smart practice is to provide all your incoming tenants with the right folders and information containing necessary documents that you as a landlord should give them, by law.

Here are some tips on how you can sign up a new tenant.

Tips for Landlords

1.     Never Rush the Process

When accepting a new tenant, the first tip is to never rush into a decision, under any circumstance. You should hand them the keys only when you complete checks on various aspects of their identity, and background.

2.     Marketing Your Property

Through an attractive profile on a leading property website, high-qualityprofessional images, a presence on national newspapers, or apps of estate agents, you can turn to many ways to help market your property. You can also seek the help of well-established estate agents like Fish Need Water and avail their expertise in handling properties. Such professionals can help to make sure that your property attracts tenants through exposure.

3.     Demand an Advance

Before you rent your property, you should ask your prospective tenant for a month rent in advance, including any deposits, unless they have an authority bond or legal guarantee. Make sure that you set up a standing order signed with the tenant’s bank and be wary of anyone who prefers to pay some cash.

4.     Re-Check References

It is advisable to check the references again from your previous landlords and employers, or you should obtain an independent certificate of credit reference.

5.     Follow Legal Responsibilities

In the United Kingdom, the legal responsibilities of tenants keep changing on a regular basis. You have to keep up with the latest regulations, so you read them up by visiting local and national government websites. In addition, you can sign up for them to receive updates.

6.     Tenancy Agreement

All tenants have to sign a legal form or copy of tenancy agreement. In all cases, you should not accept photocopies and the signatures must be original. Once tenants sign the agreement, this will become binding legally.

7.     Provide a Rent Book

You have to provide a rent book, which has to include details of the new tenant, their background, and details of your London newly built property, and its capital value. The payment period has to be accounted for, as well as the disclosed amount.

8.     Stay Compassionate

Regardless of the dealings between you and your tenant, you have to remain compassionate with them. You should not be rude to them and listen to all their demands with a cool mind. No matter the problems you have, you have to deal well with it.

9.     Give Tenants Privacy

When you handover your property to the prospective tenants, you have to give them some privacy. Sure, you cannot abandon the rental property, especially when you suspect the tenants are all causing damages. Before you consider visiting the rental, seek the permission of your tenants. You need to know your limits and only visit them within early hours or business hours, under the convenience of the tenants.

10.Get Utilities Put Into Their Names

To avoid conflicts with the bill in the future, you have to get all the utilities put into the name of the tenant, including heating and cooling. This is an imperative step and you should keep copies of gas safety and performance certificates to them.

11.Let Prospective Tenants Check Your Property

Today, most tenants expect properties manages professionally alongside modern fixtures and furniture. When it comes to the day of the move, they also want to check the property independently to make sure it is clean and well kept by you. Before you decide to let a property, have arrangements in place to save yourself from any hassles at the last minute.

When you consider signing a new tenant, you have to be clear and state all their duties and details of the renting properly in the landlord-tenant agreement. This has to include details that you as a landlord need to ensure things in your property remain in the right working condition to avoid future conflicts.

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