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Top Tips To Reduce Rent Arrears

How To Prepare A Rental Property And Attract The Best Tenants

 

Winlaton and Blaydon are in high demand from tenants due to the decent rental costs, transport links to the city centre and A1 and the appeal of being on the doorstep of some beautiful country side.

Properties are coming onto the market and are being snapped up in a matter of hours, but how can you make sure that your property is the centre of attention? We have experience in what works and what doesn’t and what tenants are looking for. See our top tips below on how you can get the best price and the best tenant.

Before you get the paintbrushes out, ensure you are meeting the legal obligations that come with being a landlord. You must have checks done on the gas, electricity and a valid EPC that is a rating of E or above and that’s just the tip of the iceberg.

Did you know there are almost 200 lettings legislations you must comply with when renting out your property? That’s why we are here, to help you keep them covered and to ensure your tenants are safe and that you don’t get a hefty fine!

Once you have that all covered, you can start the fun in getting the property ready and making your property stand out from the crowd.

 

-     Keep it neutral – greys, whites and creams create a fresh and clean space where the tenant can feel they can make it their home

-     Declutter – Get rid of any junk. Don’t use it as a storage shed, tenants want to see how their home is going to look and they can’t do that with boxes piled in every corner

-     Consider furniture carefully – If you are furnishing the property, don’t just throw in any old thing, make sure they match the property and are clean, functional and above all SAFE!

-     White goods – Consider your white goods carefully, there should at least be an oven and hob. You will be responsible for any repairs they need if they break down so make sure you can cover the cost

      Snagging – The last thing you want when showing a property is a tenant to see that it is in disrepair with broken door handles, flickering lights or peeling paint. Show you are a responsible landlord and fix any small issues.

-     Gardens – A garden is always a bonus in rental properties but don’t neglect it, make it an inviting place for relaxing. Tidy up rubbish and leaves and remove any broken pots. Fix any loose fence panels and if needed, a lick of paint and a trim of the grass.

-     Make it feel homely – Small things like curtains and lampshades can make a property feel more like a home. Ensure there is heating on in cold months and air fresheners around, no one likes a cold, damp home!

If you do it all right from the start, you are bound to have tenants fighting over it and you can have the pick of the bunch. Attracting and choosing the right tenant makes it more likely that you will be paid your rent on time and the property will be looked after.

Being a landlord is a tricky business so ensure you choose a local agent you trust and they should market your property successfully and help you along your journey.

Sales Fees

 

OPTION 1 - NO SALE NO FEE

Properties sold for over £150,000

1% + VAT of the final selling price (paid on completion)

Properties sold for under £150,000

£,1500 + VAT = £1,800 (paid on completion)

OPTION 2 - UP FRONT PAYMENT AND REDUCED FEE ON COMPLETION

Properties sold for over £150,000

Pay a non refundable fee of £200 + VAT = £240 up front for a premium listing on Rightmove and our website then pay:

0.80% + VAT of the final selling price (paid on completion)

Properties sold for under £150,000

Pay a non refundable fee of £200 + VAT = £240 up front for a premium listing on Rightmove and our website then pay:

£1,200 + VAT = £1,440 (paid on completion)

All of our properties are advertised on Rightmove, Zoopla, Onthemarket, Prime Location, Living Local’s own website, our office window and on social media platforms including Facebook, Instagram and Twitter.

We do not charge for professional standard photography, floorplans, video tours, ‘for sale’ boards or our viewing service. 

                                                                                                                                                                                 

The government have announced a new law which means that all landlords of residential properties must have an electrical safety inspection carried out every 5 years. 

 

Landlords and agents will need to ensure electrical installations are inspected and tested for all new tenancies in England from 1 July 2020 or from 1 April 2021 for existing tenancies.

 

It will be similar to a CP12 gas safety check that you currently have done each year for the boiler and any gas appliances, however the electrical check is done every 5 years by a qualified person. The regulations also state that a landlord is required to obtain a report of the results of the inspection and supply it to each tenant within 28 days and retain a copy until the next inspection takes place.

 

Breaches of the regulations could result in financial penalties of up to £30,000.

 

Portable appliances such as kettles and toasters are to be included so PAT testing isn’t mandatory but is good practice to have done.

 

If you have a current and validated certificate already, this will still be valid which means you do not need to obtain a new one.

 

 

We suggest you think about booking in the testing sooner rather than later as we anticipate a large rush close to the deadline and expect electrician’s fees to go up as they become busier with the additional work. If you would like us to help you with arranging a

check please do not hesitate to contact us.

 

 

                                                                                                                                                                                                                              

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