Bharat SainiLast Updated on February 10, 2024 by Bharat Saini
If you are a budding landlord, there are a few steps you need to take before renting your home out to tenants. To make sure your journey to becoming a landlord goes smoothly and you can get the income you require in no time at all, here are some top tips that you should follow before you search for your first renters.
Get a House Valuation
It can be difficult to know how much to charge in rent for your property. As well as checking the rental costs of other properties in your area and speaking to other landlords, you might also try to work out how much to charge by getting a house valuation. This will allow you to understand how much your house is worth and what you can charge those who want to live in it. This can take some of the strain off your shoulders and mean that you can stop worrying about whether you are ripping your tenants off. Then, you should choose a well-known and trusted estate agency for house valuations that can carry out an inspection either in-person or virtually. This can prevent any confusion when it comes to working out the rent for your property.
Improve the Décor
It is unlikely that anyone will want to live in your property if it is dark, dull, and outdated. To prevent your tenants from feeling miserable while they are living there and to ensure you can create a property that you are proud of, you should consider spending some time sprucing up your décor. You can do this by painting the walls in a bright but plain color and replacing any worn tiles or wooden flooring. You might also decide to hang wall art and replace any sofas and tables that are dented. However, when you are designing these rooms, you should consider opting for relatively neutral décor so that your tenants do not feel as if they are living within someone else’s house and they can make it their own.
Look at Listing Websites
You should also be careful when it comes to picking the listing website you want to advertise your property on. It is vital that you find a website that gets a lot of visitors and can enable you to easily keep track of and manage your rental listings. Once you have done this, you should spend some time taking clear and light photos of your property and writing out all the information that your potential tenants will need to know, and that can entice them to rent from you.
Sort Out the Legalities
Not every aspect of being a landlord is easy or fun, though. It is important that you take some time to sort out the legalities of your rental property. For instance, you will need to draw up a contract, make sure that your property is safe, and put procedures in place to perform background checks on your tenants.
