Categorized | List Building

Tips on Letting Out Your House

The current financial climate has impacted the housing market in several major ways. The main effect has been a decrease in the number of first time buyers, caused by increased demands for down payments. This means that numerous homeowners are looking for ways to offload their house while they're in the market for an upgrade. The most logical option is to rent the place out, and this article aims to give a few tips on how to put your house in the best possible light in the letting market.

Firstly, it's important to make sure any upgrades or maintenance have been completed before you even think about putting the house on the market. Letting property is a tricky business, as tenants now have a wider range of homes to choose from, and any home that has obvious work that needs doing to it will go straight to the bottom of potential letters' list. This also goes for improvements. A house with a new boiler or bathroom suite will be a major selling point for your letting agents to promote your home. It will also increase the amount that you can charge charges.

Secondly, you need to have a system in place to vet your tenants. Obviously the dream is a young professional couple with no pets and no kids, but the reality is often much difference. You can pre-empt most awkward situations by stating clearly the kind of people you're looking to let in in the advert, specifying whether you'd be willing to let couples, children or pets. However, some groups can slip through the net, so it's important to agree in the contract with your letting agents a clause that allows you to evict people who you do not feel are appropriate.

Lastly, be clear what changes your tenants will be allowed to affect themselves, and which you want to be done by professionals. Most landlords will want to maintain the decoration themselves, but there are some tenants who will be accomplished in this field, so make sure you know where your limits are. On the whole, putting pictures and posters on the walls are acceptable, while painting rooms may be beyond your comfort zone. The other major decision to make in this area is that of whatever you choose to use your own selection of professionals for maintenance and decoration, or to use those employed by your letting agents. There are pros and cons for each option, but it's down to your individual preferences.

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