Renting your property out can be a very daunting process. Whether the property has been your home and you’ve decided to move on or it was purchased as a buy to let investment – there are many factors that need to be considered.
A fleeting browse on the most popular property portals show that homes to rent in the area are stylish, plentiful and in demand. For this reason employing a letting agent is vital.
So if you’ve ever asked the question ‘How do I rent my home?’ There are certain things you need to consider; let’s examine the facts.
How will I find a suitable tenant?
This is the most important consideration when letting a property. Property is one of the largest investments an individual can make therefore it is crucial that the tenant is a trustworthy person. The reasons for this are two-fold: the monthly rent must be paid in full and on time; the property must be well maintained and kept in good order both inside and out. Of course there needs to be a degree of trust between landlord and tenant however a decent, good quality letting agent such as Stadium Residential can carry out some reference checks via an independent reference agency which can build a reliable picture of prospective tenants. A credit check, employer reference and previous landlord reference will give you a good understanding of the potential tenant and how they have conducted their financial affairs. This can alleviate any fears about entrusting a mere stranger with one of your biggest investments.
How do I draw up a Tenancy Agreement?
An Assured Shorthold Tenancy Agreement is the most common residential rental agreement and protects both landlord and tenant in it’s terms. Trawling the internet for a template agreement can be a laborious task and employing a solicitor to draw up an agreement is potentially very expensive. Stadium Residential will draw up the agreement on your behalf and will arrange to send you a copy to peruse prior to the tenant being invited to sign up.
How will I collect my rent?
If you instruct Stadium Residential to manage your property you can sit back and relax as we will arrange for the rent to be collected from your tenant and deposited in your bank account. This eliminates the need for rent books or home visits between landlord and tenant. Stadium Residential will monitor the payments and will contact the tenant on your behalf should the payment be late.
Who is responsible for maintenance issues?
This can be an alarming thought for any landlord. As your managing agent Stadium Residential will field calls from tenants regarding maintenance issues. For example if a tenant calls because a light bulb has blown we can be the point of contact to advise them that this is not the landlord’s responsibility. On the other hand, if the tenant calls to report a faulty boiler our property management team can arrange for the relevant tradesmen to attend the property and resolve the issue quickly and efficiently, even outside of normal working hours. Unless instructed to the contrary we will not instruct work without your permission.
To summarise, if you are looking to rent out your house or flat in North or central London, Stadium Residential provide the ideal service for you to save stress, paperwork and management. Being a landlord can provide a good, steady income – why not hand the hard work to somebody else, we will let your property for the best possible price and in the shortest timescale.
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