More Great Advice for First Timers from Upad Landlords
We hope these tips from our own Landlords, in addition to the ones we published previously, help you to build that confidence. We're also here 7 days a week to give you any further advice you may need. Call us on 0333 240 1220 or send us an email and [email protected] and we'll help you out.
When you decide to be (or simply find yourself) a landlord for the first time you need a lot of help. Although there are almost two million private
landlords in the UK it can be difficult to find that help; leaving many to rely on middlemen who may not always have your future prosperity at the forefront
of their minds...
Having the confidence to choose the right tenant and manage
the property yourself will not only save you a small fortune, it will ensure that your interests are always being put first.
We hope these tips from our own Landlords, in
addition to the ones we published previously, help you to build that confidence. We're also here 7 days a week to give you any further advice you may need.
Call us on 0333 240 1220 or send us an email and [email protected] and we'll help you out.
What's the one piece of advice you'd give a new landlord?
- Make sure you meet all your potential tenants in person (Paul Swannell)
You can tell so much more from a face-to-face meeting than from emails or phone calls. You are going to be trusting this person with your property and with
paying the rent, so you really ought to give yourself the best chance to see what they're like. The Upad service
is ideal for this when compared to using a letting agent; you get to conduct all your own viewings which is a great
opportunity rather than a chore, and then the credit rating and references are a useful backup to those first impressions.
An employer would be unlikely to give someone a job without meeting them first, so why would you let someone live in your property
on the strength of an application form or the opinion of a letting agent who simply wants to sign up a tenant quickly and move on?
- Any tenant in a rush is in a rush for a reason (Anne Owen)Take your time, get them to fill in an application form and see if they
stick around. A genuine good tenant will answer all your questions and wait for you to do all your checks.
- Give and take in the relationship with your tenant to keep a good lasting relationship (Nirmal Kanji)Don't nit pick on small
issues as its better for you in the long run to have happy tenants who stay for a long duration, keep the premises clean and PAY THE RENT.
- Get to know as much as possible about your prospective tenant BEFORE giving them the keys to your property (Philip Morris)Once
they have signed the tenancy agreement and moved in it is a lot harder to get them out, especially if you discover once they are in that they are not what
they originally appeared to be! First impressions are not always the best way to decide that you have the "ideal" tenants.
- Ensure you have taken many photos of your property for the inventory before the tenants move in (Daniela Provvedi)Take pictures of
every room and every nook and cranny. Also ensure you take photos on the day the Tenants move out. This is important in case there is a dispute.
- Team up or get mentored by a Landlord who knows what they are doing (Terry)There are plenty of expert landlords out there and if
you're stuck then contact us. Mistakes can be very costly.
- Expect issues (Pav)It's likely your tenants will have questions or want changed in the first weeks or months. This is normal as they
look to make the property somewhere that works for them. Don't let it stress you out, it doesn't mean you've managed to get nightmare tenants. Just be attentive,
agree to any sensible requests as that will build goodwill, and politely explain why more complex work may not be suitable. After a few weeks, it is very likely
to settle down more.
- Use your gut instinct (James Lynch)The beauty of Upad is that you have the opportunity to personally vet your tenants. Use this
opportunity wisely, if something doesn't seem right, find another tenant, there will be plenty of calls.
- Once a viewing is arranged, explain that you will contact them 1 hour before the viewing time on the number they have provided to confirm they
will be attending (Sam)This ensures that you speak to them again before the viewing a) then you know you are not wasting your time going to a
property unnecessarily or waiting on for someone and b) tests how good they are at answering their phone, testing their communication skills. Saved us countless
trips as many prospective tenants are just time wasters.
- Never try to hide anything about the property you're renting (Jane Higgins)For example, if it's near a noisy pub, let potential tenants
know. it saves any problems within the tenancy, ensures an open and honest relationship (an who knows, they may be night owls and a pub on their doorstep is
their idea of the perfect home!).
Download your FREE Landlord Guide to Property Viewings
Trust your own instincts
Many of the tips we choose this week focus on the importance of not relying on others to make key decisions for you and having the confidence to trust your
own judgement. Clearly this is tough when you're just starting out with being a landlord, but its worth remembering you're likely to be the only person in the
whole process that really cares about what happens to your investment.