If you are planning on renting a home as a landlord or as a new tenant, there are a number of tips that can make sure that your rental property can remain in the best condition. Here are some of the best pieces of advice from experienced property owners for new renters and new landlords in the UK
Look at insurance
Insurance is a property owner may not cover some items for renters, as a result it’s usually in good practice to make sure that any new renters for a property have insurance. Getting rental insurance as a renter is also a good idea, if a landlord’s property insurance does not cover any liabilities for your flat or for any of the valuables inside of it, you could be on the hook for all of the damages if they are your fault, or replacing all of your assets if the landlord causes an accident. Making sure that both parties are covered by insurance can help to prevent a major incident in court later on.
Set up automatic rent withdrawals
Many landlords today often rely on property management software as well as direct deposit technology to make sure that they get rent at the same time every month. This can be a massive help for any landlord as well as a welcome relief for tenants. Instead of landlords and tenants having to consistently interact and exchange cash or payment info, a direct deposit system will ensure that rent is always taken out when planned and that a landlord can get rent from tenants at multiple property locations. Setting up automatic rent withdrawals and using a property management software for accounting can also be a huge help to landlords when publishing rent receipts for their tenants and for tracking their income.
Keep condition reports and repair properties quickly
A condition report as a tenant is just as important as a landlord keeping one. When you move into a new place make sure that you log any of the items that happen to be wrong or damaged. Making sure that you will not be held liable for these damages when you move out is important. A landlord also has to make a list of fixes that they will need to make to any of their properties. Making sure that they can get the repairs done promptly will help to keep a property efficient and ensure that their tenants remain happy.
Make sure that regular property inspections happen
In order to protect tenants in multi-flat housing and to make sure that there are no causes for concern with the property, regular inspections are important. There are many tenants that would enjoy the idea of hardly ever seen their landlord, making sure that at least a semi-regular inspection is happening on a property can make sure that you are living in a flat that is being well kept and that you will not be held liable for something that one of your other flatmates may have done.
Create clauses in a rental agreement
If you plan on having a dog, hosting a party, subletting or even smoking inside, you should check into your rental agreement. Any landlord also needs to prepare for these eventualities by creating a series of clauses within a rental agreement. The UK has a number of sample rental agreements that contain some of these clauses but if you happen to think of anything that you wouldn’t want done on your property, as long as it is a fairly reasonable request you can add it into the claws of your rental agreement that tenants can check up on.
Remember some of these top tips if you’re planning on renting out one of your properties or living life as a renter in the UK.