Making a house a home
Ever wondered if your home is simply bricks and mortar? Perhaps you consider it to be a safe haven, full of timeless happy memories. Studies reveal that only 60% per cent of British home owners feel they live in a home, while only a third claim their habitat is merely bricks and mortar. Begging the question, what exactly makes a house a home…
At first glance, some homes have that effortless ‘wow factor’, whether they are a plush cosy cottage or simply an airy apartment, they just ‘feel’ inviting. All landlords and home owners strive to achieve that ‘feeling at home’, so what is the big secret? This article is on hand with exclusive tips on how to transform your ‘house’ into a home tenants will fall head over heels in love with.
First things’ first! Come to terms with your newly unveiled world of responsibilities as a landlord, understand how to protect your ‘home’ while keeping your tenants happy.
Knowledge is power!
Get to know your market, get the ball rolling with some research. Take a look at homes similar to yours, work out their monthly price point and compare it to yours. Steer clear of extreme pricing, if your rent is set too high or too low, potential tenants will no doubt be deterred. Instead, consider your target demographic and decide whether your home will be more suited to students, families or young professionals.
Properties that offer a blank canvas can often be appealing, some tenants prefer the freedom to create and have things in a particular way. Others opt for convenience so tend to lean towards fully furnished homes, regardless, it is always wise to ensure personal belongings or items of value are removed from the property.
If you decide to proceed with renting out a fully furnished house, bear in mind first impressions are everything. You may favour neutral colours; these enable prospective tenants to envision themselves living in the space. Whatever you do, don’t forget the exterior of your house! Well kept outer spaces will make the home more attractive.
It is crucial to notify your insurance company once you have taken the leap to let your property, your existing policy may need to be adjusted. You might consider making arrangements for ‘landlord insurance’ to cover any financial losses in connection with your rental.
On Going Responsibilities
Great power comes with greater responsibility, in this case be aware that as a landlord you will need to be prepared for anything. It is not all fun and games, landlords can be on call 24/7 as tenants will reach out at any given time to report arising urgent issues. As the landlord you will be accountable for all your home’s repairs and maintenance.
Like most things in life being a landlord comes with its very own legal strings attached, so be sure to brush up on your knowledge of the law. Studies show that there are about 145 laws that landlords need to adhere to with regards to letting a property.
For example, it is a requirement for landlords to do credit and right to rent checks in line with immigration laws (England). Among all the key checks and paperwork, deposits need to be collected and protected. The property itself must remain habitable and safe.
Let’s find that perfect tenant
There are many platforms for landlords to advertise their property, however it is important to work with experts who follow the best practices, meet all the requirements of the profession and works to industry standards. Though places to advertise are plentiful, some like ‘You Rent’ are better than others.
This new innovative platform will not only save you a chunk of money but provide a seamless experience like no other.
So if your goal is to find the perfect tenant be sure to follow these helpful tips and remember you are just a breath away from renting your home when you opt for experienced and trained professionals to help you find that perfect one.