If you’re thinking of becoming a landlord, read this first:
I’m often asked for advice from landlords – but only usually after they’ve found themselves in over their heads!
Many independent landlords who have had bad experiences with rip off letting agents can be forgiven for thinking they don’t need any help with property management. After all, how hard can it be to receive the rental income into your account each month, and maybe ring a plumber or an electrician if the odd thing goes wrong?
It’s when more complex – often legal – matters arise that private landlords I know will come to see me for help and advice. Problem tenants that won’t leave; rent that never arrives; poorly written Tenancy Agreements that provide little protection.
Here’s some of the things you should consider before becoming a landlord:
What’s my plan for maintenance and repairs?
At the Better Letter, we have an established network of trusted tradespeople who we can call upon, whatever happens in one of our properties. We’ve built these personal relationships over 25 years of managing properties in Oxfordshire, so we know the people who will be doing the work for us, and we can negotiate reasonable rates.
If you are one of the increasing number of ‘accidental landlords’, you may not have the time or resources to put this kind of network of arrangements in place, and should consider finding a good lettings agent to work with you.
Am I prepared for the legal responsibilities?
From smoke alarms to ‘Right to Rent’ paperwork; from Section 21 regulations to Health and Safety legislation, professional property managers like The Better Letter must keep abreast of all the latest ever-changing legislation.
A keen administrative mind, and confidence in dealing with contracts and other legal paperwork is essential to acting as a private landlord – or letting your property through someone who has both.
How will I handle problem tenants?
Unfortunately, all landlords will experience a problem tenant sooner or later – and if they haven’t been vetted by an experienced letting agent, it will probably be sooner! If there is a problem, have you put plans in place for issues like credit control, proper serving of legal eviction notices, or court proceedings?
How can The Better Letter help?
I’ve been letting properties in Oxford and the surrounding area for over 25 years now, and that experience and expertise is much more useful to you before you start your property journey, rather than waiting until you run into problems.
If you’d like some advice on renting out your property, just call and we can have a cup of coffee. No sales team, no cold calls. Just call the office and ask for Simon Fisher, and I can tell you about our services and the great deals we have for new clients.
And speaking of deals...
This month, if you register a property to let with us (or if you introduce us to someone who does), BOTH the landlord and the introducer can choose from one of the following rewards:
Ferrari Thrill Experience
Taste life in the fast lane as you drive one of the most desirable cars in the world with this Ferrari Thrill experience. You'll get behind the wheel of a stunning Ferrari for an adrenaline-pumping series of laps around a purpose-built track at one of several locations across the UK.
Fortnum & Mason hamper
A Fortnum & Mason hamper is the gift that never disappoints. Every one of their hampers, gift boxes and baskets is a treasure chest of delicious and delightful things, filled with specially chosen luxuries for every occasion. Simply lift the lid for the excitement to begin.
Ultimate Pamper Day
This is the perfect chance for you and a lucky guest to relax and enjoy some time for yourselves at one of over 25 fantastic Virgin Active Health Clubs across the UK. Enjoy the fantastic spa facilities together, including sauna, steam room and pool, plus you'll each be treated to 75 minutes of rejuvenating spa treatments.