You have a safe, modern investment rental property in a great location. You’re keen to ensure that it provides a consistent rental income, and don’t want to deal with many issues from it each year. What are the best ways of achieving those goals, you might ask yourself?
The last thing you want to do is end up with a property that seldom gets rented out to tenants. That’s why you must ensure you do everything possible to make your house or flat attractive to quality renters. The following details a few ways to help you do that:
1. Upgrade All Electrical and Heating Systems
One of the most significant problems landlords face with their rental properties is when infrastructure within houses and flats fails and is expensive to repair.
As a landlord, you have a legal obligation to ensure any properties you rent out to others are safe for human habitation. What you don’t want to happen is for tenants to get injured or worse due to dodgy electrics or unsafe gas appliances.
With the above in mind, you should upgrade all electrical wiring, switches, sockets, and lighting outlets. Additionally, you should also renew all gas plumbing and appliances and conduct annual checks on everything.
2. Install Strong Door Locks
Tenants also want to feel safe in their new homes. It makes sense to invest some time and money upgrading all exterior door locks. Did you know that many homes with uPVC doors are easy to break into due to their weakest points – their door locks?
You should invest in anti-snap locks for added peace of mind. Thankfully, anti-snap locks are inexpensive and readily available. If you’re a keen DIYer, you could install them yourself in just a few minutes.
3. Use A Property Maintenance Company
Even if you’ve only got a single rental property in your portfolio, it makes sense to have someone else manage all repairs and maintenance.
Doing so gives you more time to spend on your work or other daily activities, and it means you don’t need to feel stressed out about doing too many things.
Many repairs and maintenance rental property companies exist, so you shouldn’t have trouble finding one local to you that can assist.
4. Stick to A Set Tenant Criteria List
Let’s face it: you want quality tenants renting your property. You ideally want them to have good incomes, have no debt worries, and be unlikely to trash your place when they eventually leave.
If you want to rent your property to those types of tenants, it makes sense to have a set criteria list and not deviate from it. Don’t make exceptions for friends or acquaintances, for instance. And if you’re leasing in places you don’t necessarily live, for example in Dublin you’re going to have to do a background check on tenants that are looking to rent your Dublin apartments.
5. Conduct Thorough Checks on Potential Tenants
Last but not least, you should conduct thorough background checks on all potential tenants. Doing so will help you minimise the risk of having tenants that can’t afford the rent or are likely to sub-let without your knowledge or agreement.
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