Top Tips for Landlords
British renters spend an average of 18 months in a rented property before moving on, according to new research by landlord insurance provider Direct Line for Business.
The research also found that, landlords spend an average 22 days trying to find new tenants, resulting in a loss of £547 in uncollected rent.
When calculating the yield for a property, landlords must consider this void period and ensure they have sufficient resources so they are not left out of pocket but we have some other top tips to help avoid these periods in the first place.
Price fairly: The cost of rent is one of the biggest factors when it comes to influencing renters so make sure your tenants feel like they are paying a fair price and if you’re unsure of the market, consult a reputable local agent to help you.
Appeal to lifestylers: More and more tenants aren’t just after a home to rent but the lifestyle that accompanies it. Adding a fresh coat of paint and new carpets every couple of years will keep tenants happy and stop their eyes from wandering elsewhere. If you trust your tenant then it’s also worth being flexible on certain elements of the rental contract, such as minor DIY jobs or pets.
Don’t be a stranger: Maintain contact with your tenants and be approachable and helpful. This could easily prevent a small problem turning into something much bigger.
Promote your property: The more detailed the listing and the clearer your photos, the better. If you’re going it alone, make an effort to quickly answer questions. If you use a reputable agent, they will do the work for you.
Why use Chantries?
An extensive database: Chantries has an extensive database of all types of clients, including prospective buyers, buy-to-let, tenants etc.
A tailor-made service Chantries research their client’s needs to make sure they find the most practical and quality tenant for your property. We offer a comprehensive management service where personal attention to detail is a priority.
Barnett Lane, Wonersh, Guildford, Surrey
Guide price £650,000
A little bit about us
Please take a look at our booklet about us and how we can help youAbout Us
How much is your home worth?
Chantries offer a free valuation service - arrange yours today. Feel free to call us on 01483 405222 or fill out our on-line form and we will contact you.Request valuation
Like many buyers, I log onto Rightmove each morning to find out what’s happened in Guildford’s ever-changing property market over the last 24 hours: which houses have gone under offer and what new instructions have been added. However, as we edge into autumn, we’re seeing a significant rise in the number of properties marked Reduced Today and this is something we need to address. While this isn’t a new phenomenon - even in a busy market there’s always been a smattering of them - the post-Brexit landscape means they are now outweighing new instructions marked Added Today on a daily basis.Read more