Being a landlord presents a range of challenges, both on the business side and with the management of the tenancy. From minor issues such as the tenant not keeping the property clean and tidy to major issues such as property damage and unpaid rent.
To make your life easier, getting things rights from the start of the tenancy will help.
Here are a few tips to keep in mind:
Speak to a solicitor to draw up a Tenancy Agreement
PGM can draft bespoke tenancy agreements for you and offer any expert legal advice that you require during the course of the tenancy. Protect yourself from the outset and get the legalities in place without leaving yourself open to any potential legal problems.
Understand the Tenancy Agreement
Familiarise yourself with the terms of the agreement, including rent payment schedules, maintenance responsibilities, and rules for the property.
Carry out checks
Conduct background and credit checks on potential tenants to ensure they are reliable and financially responsible. This will save a lot of headaches in the long run!
Maintain the property
Keep the property in a good condition and address maintenance issues promptly to provide a safe and habitable living environment for your tenants.
Communicate
Keep the communication channels open with your tenants and address any concerns or issues promptly and professionally.
Document EVERYTHING
Keep detailed records of all communications, agreements, maintenance requests, and any incidents. The documentation can be valuable if any disputes arise.
Know the law
Familiarise yourself with the eviction process and laws in your area, including the procedures and grounds for eviction. Follow the legal process carefully if eviction becomes necessary and ideally seek advice. These currently differ between England and Wales.
Seek legal advice
If you come across complex legal issues or disputes with tenants, don’t hesitate to contact PGM for guidance.
We can advise both landlords and tenants / contract holders, please do get in touch if you require advice.
