Mistakes Made by the Landlord

  • Overpricing the property

Many landlords will think it is worth more than it is or have been told by other landlords in the area that theirs achieved a certain amount.  Its always best to speak to an agent and they will give you a reasonable estimate on what the property can achieve, its key to get a reasonable estimate so you don’t have to keep reducing the rent in order to find a tenant. 

  • Poor presentation and Furniture

The way a property is presented will always be key in how quickly it is rented out. Having somewhere that looks clean and tidy will be easier to rent than having a property that looks run down and needs a good clean. Including furniture in the property is a way to get a higher rent but if the furniture is old fashioned or run down it will be harder to rent the property as people will be put off as they know the furniture would be coming with the property. 

  • Getting their tenants properly referenced

Not having your tenants properly referenced can you leave in trouble further into the tenancy as they may stop paying their rent or they may damage the property. Having the tenants referenced, in the way that we do it, we get a credit check, employment and previous landlord reference, this way we are able to see if their wage would cover the rent and leave them enough to live off as well as being able to see how they have left their previous property and if they paid their rent on time. 

  • Not researching the letting agent

This is a key mistake that landlords make when looking for a letting agent, it is always best to have a look online at the agents reviews and the experiences other customers have had with the agent. An agent may be 2 minutes down the road but could have terrible reviews compared to an agent who is 10 minutes away but has brilliant reviews. 

  • Ignoring Gas safety checks

A gas safety certificate is needed every 12 months which shows the appliances are safe to be used by the tenants, you must keep each certificate that gets done so if they are ever needed you can prove that it has been completed.  If you fail to complete a gas safety check you can be fined £6,000 and/or 6 months imprisonment.