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It is now compulsory to have damage deposits
secured in protection schemes. There are two
types of schemes - Insurance based and
custodial. Your agent can arrange this for you.
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When attracting new tenants, it is important to
keep the decor of your property (interior and
exterior) well kept. As they say - ‘First impressions
last’.
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If your property has a gas supply it is mandatory
to have a yearly gas safety inspection. It is also
encouraged, and good practise to have a PAT
test for electrical goods.
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Let your agent manage the property for you, they
have very good resources and usually negotiate
good rates for repair work. Saving on agent fees
to do it yourself can be a false economy
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Although you are the legal owner of the property,
it is the tenant’s home. Leave them to enjoy the
property, if you do need to visit the property, give
at least 24 hours notice.
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Trust your agent’s rental valuation, even if it’s
lower than you expected. They have invaluable
market experience and take into account many
variables before giving a rental price.
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a good tenant and landlord relationship is one
that is built on fairness and morals. Landlords
should treat tenants in a manner that they would
like to be treated.
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Instruct a reputable agent that markets heavily
and gets the job of letting properties done. The
phrase ‘you get what you pay for’ really stands
true with letting agents.
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To avoid a dispute at the end of tenancy with
regard to returning a security deposit, ensure a
comprehensive inventory is conducted at the
start. It can often save money on the long run.
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Before a tenant is due to move in, ensure the
property is clean and equipt with instrution
manuals for appliances, this will save the tenant
calling you to ask how the cooker works!
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