Before letting out your property, there is much to do as a landlord or property investor. Your property must be in the best shape possible to make an excellent first impression for potential tenants. Read below for a list of tasks to complete at the stages of getting your property ready, once you have found the right tenants and when your tenants have moved in.
Getting your property ready:
- EPC – An EPC measures how efficient the energy is in your property and is used to show the cost of aspects such as heating and lighting and predicting carbon dioxide emissions.
- Gas safety certificate – These certificated are required in a property to demonstrate that the gas appliances, flues, and related pipework in your property have been checked and are deemed safe.
- Fire safety – Landlords are required to provide a smoke alarm on each floor of a property and a carbon monoxide alarm in any room with a solid fuel-burning appliance.
- Electricals – An Electrical inspection is required to prove that all electrics and appliances they supply are safe to use, such as sockets, light fittings, and cookers and kettles.
- Furnishing – It is entirely a landlord’s choice to supply furniture in a property; however, providing basic amenities could increase your property’s appeal.
- Maintenance work – If the previous tenant of a property owner has pointed out repairs or you have noticed them yourself, such as leaky or burned-out light bulbs, ensure this maintenance work is carried out.
When we’ve found the right tenants for you:
- Right to rent checks – It is a landlord’s legal requirement to check the eligibility of each tenant’s right to reside in the UK, checking the necessary documents and keeping a copy for your records also.
- Credit referencing – At AJ Properties, we always implement a full credit and referencing service on your prospective tenant, which covers everything from their credit history, checking for bad debts, an affordability test and references from the appropriate people.
- Tenancy agreement – A tenancy agreement is a contract between a landlord and their tenant that ensures tenants can live in the property as long as they abide by rules set and pay rent.
- How to rent guide – A how to rent guide must be supplied to tenants, including the latest legislative regulations such as tenant fees act, minimum energy efficiency standards and electrical checks.
When your tenants have moved in:
- Deposit – At AJ Properties, we collect one month’s rent in advance together with a dilapidations deposit to be allocated to the tenancy deposit scheme.
- Property Inventory – This document is a record of defects, imperfections, and more present throughout a property at a specific date.
- Documents – Documents such as the EPC, gas safety certificate, ‘How to rent’ guide, details of electrical inspections and various other certificates must be supplied to tenants once they have moved in.
If you have any questions about letting out your property, don’t hesitate to contact the AJ Properties team.