How to Prepare Your House for Rent in Leicester?
Understanding how to prepare your house for rent is a crucial part of the property management process for landlords. Getting the preparation right from the beginning can make all the difference if you would like to seek out new tenants quickly.
Our extensive experience and knowledge of the property rental market in and around Leicester will help you prepare your property stress-free.
Remember, if you’re a landlord, we will help you market your property, and we can manage it too. For more information contact Keywest Letting Agents in Leicester Email us at email@example.com or call 01162544555.
7 Tips to Prepare Your House for Rent:
- Make Sure Your Property is Clean
- Get Your Certificates in Order
- The Devil is in the Details
- Complete all Repairs
- Put Landlord Insurance in Place
- Choose the Right Letting Agents
- Consider your Rental Income
Make Sure Your House is Clean and Tidy
This sounds basic, but if you want to attract potential tenants quickly the property needs a good clean. From the carpets to the kitchen cupboards, and from the oven to the toilet, check the property and ensure the standards are high. You want your home taken care of so you need to induce it right at the beginning in order to attract the perfect type of tenant.
Top Tip – To save you money you can get the property ready and cleaned yourself, but you may want to hire the professionals, particularly if the place is actually in need of a deep clean.
Get Your Certificates in Order Ready for Your Tenants
As a landlord, you have got legal landlord responsibilities you need to consider. You will want to confirm your properties have:
- An Energy Performance Certificate (EPC)
- A Gas Safety Certificate
- An Electrical Installation Condition Report
These tests must be done by proficient professionals, registered with the regulatory bodies – failure to provide these certificates means you could be fined.
Top Tip – Ask around to work out which qualified plumbers and electricians are recommended. they have to be competent after all, but you will also want tradespeople who will do an efficient job at the best price.
The Devil is in the Detail – Inventory and Inspection Checks
When you find the right tenants, you hope they’ll stay in your property for ages. But, after they do move out, you will have to make certain that they haven’t damaged or disposed of any of your items.
The simplest approach is to complete a full inventory of the property. This can prevent time and money at the beginning of the tenancy.
Top Tip – Put your mind to rest by taking photos of the inside and outside of the property or record a video on your mobile phone. You’ll then have a record of the condition of the property at the beginning of the tenancy.
Complete all Maintenance Jobs & Repairs
Before your tenants move into the property, make sure all repairs and maintenance jobs are fixed within the property. Make a list of all the damages and get the place decorated if need be. it’ll be someone else’s home, but it’s your asset, so take care of it.
Top Tip – You must expect to form a list of repairs as a result of wear and tear, but, if the repairs are required because of a tenant’s actions, you’ll be able to claim the money back from the deposit scheme in place.
Protect Your Investment with Landlord Insurance
When letting your property in Leicester, ensure it’s fully insured. Cover the rebuild, and therefore the contents if you’re letting the property out fully furnished. Speak with an insurance company who specialises in landlord insurance or contact your current insurance provider to ensure you are fully covered.
If your property has been empty, notify the insurer that somebody is moving in to your property as your insurance policy may have to be changed.
Top Tip – Getting the paperwork in order is totally essential to the successful running of a property, whether it’s a buy-to-let property investment or a home you’ve inherited. Be organised and diarise when your landlord insurance policy must be renewed.
Choose the Right Letting Agents to Manage your Investment Property
You’ll have to choose a lettings agent in Leicester, but first you want to determine what services you need from your property managers. Many property management companies offer a variety of services so its good to be clear on exactly what you need so you can keep agent fees to minimum.
Is it to find new prospective tenants?
Do you want the property agents to handle the right to rent, rental income, deposit scheme and credit checks?
Do you need a property manager to fully take care of the property on a month to month basis?
Top Tip – Seek recommendations and advice online. View customer feedback on social media and other reviewing platforms to seek out the most effective letting agent in Leicester. Double check if the online agent is listed on Rightmove, Zoopla and the other property giants, that’s a good sign your rental property will be dealt with in a timely fashion.
Consider Profitability – Rental Income, Cost and Expenses
Do you know what the rental income will be?
Have you mapped out the yield?
Have you got a mortgage on the rental property and wish to cover mortgage payments monthly?
To reduce the risks of loss these are all questions that require answering before you decide to let out your property. You must look at your investment property as a business keeping your cost low so you can so you can make sure you profit. Before you decide on how much you will charge a month for your residential property you should do your homework on similar properties nearby so you know the level of rent in your area.
Top Tip – Work with a lettings agent who knows the local area, knows the market, and knows the perect type of tenant for the property. Get your property up to scratch, and you’re more likely to draw in the kind of tenant you would like in your home.
For a full break down of the cost of being a landlord you can check out our short guide here ” Landlord Cost and Expenses Checklist“.
How to Prepare your House for Rent – Frequently Asked Questions
Should landlords use a letting agent?
If you are are giving it your first shot at being a landlord, a letting agent is recommended but not essential. It is possible for you to manage the property alone if you are will to put in the work and do the research first.
How much rent can landlords charge?
When pricing your monthly rental fees, first you will need to know how much similar properties are being rented for within the area.
Are you permitted to let your home?
Depending on the terms included when purchasing the property will affect whether or not you can rent out your home. For example, if you your property is lease hold you are essentially sub letting your property which may be against the their lease terms.
What is a buy to let mortgage?
A buy to let mortgage is a mortgage taken out on your home with the internet to rent out the home to tenants in the future.
Is it illegal to rent a house without a buy to let mortgage?
If it is against the lenders policy it possible you may face penalties. This could include demand of mortgage payment in full.
What if the property is an HMO?
If you decide to rent out your property to three or more tenants you may need a HMO licence.
We are local lettings experts for Leicester. Speak with as we can help you through the process of finding a tenant and managing your property. Email us at firstname.lastname@example.org or call us on 01162544555.