Dealing with the financials and the mountain of legislation often means landlords can overlook one very important area: how to keep your tenants happy.
As a landlord, the hard work does not end with the signing of the tenancy agreement. Think of it as the beginning of a relationship, where trust and respect need to be developed over time.
Getting things right from the first day of the tenancy can often prevent bigger issues developing unnoticed, saving you precious time and money. Happy tenants will also treat your property with more care and are more likely to stay for longer.
A simple ‘New Home’ card or a token gift is a good way of starting the tenancy on a positive note. Making sure the utility companies have been informed of the meter readings and the name of the new tenant also shows that you are a helpful and diligent landlord.
Once your tenant has moved in, make sure they know how to contact you just in case they have any questions about the property (stop cocks, gas boiler, gardening etc). Then take a step back and allow them to settle in and enjoy the property in peace.
Remember, if you do need to visit the property, don’t turn up unannounced and you need to ask your tenants’ permission and give at least 24 hours’ notice. You must not visit the property unless your tenants agree (although they are unable to unreasonably withhold consent).
Some tenants insist on changing the locks, so don’t argue and arrange for this to happen. You will still get a set of keys and you can pass the cost on to the tenants. If you have visited the property without permission, the tenants have the right to change the locks at no cost.
Here at Knight Property Management, we also recommend arranging quarterly inspections to make sure there are no major problems. This also provides an opportunity for the tenants to highlight any niggling issues like a dripping tap or wonky window.
If you are thinking of investing in a buy-to-let property, call Knight Property Management today on 01992 308181.