How to be the Perfect Landlord

Renting out your property isn’t always a bed of roses. In fact, not unlike your garden, being an excellent landlord needs regular care and attention. Talitha Burgess, Managing Director at Clarity Property Management, offers some top tips for landlording perfection. Or, near-perfection at least. Nobody’s perfect.

Here at Clarity, we’d like to wish all our landlords, tenants and working partners every success in 2022. We hope that this year will have more highs than lows (last year was a bit wobbly for most of us), and that this time next year the destructive nature of Covid-19 will be just a distant, echo of a memory.

We can but hope.

In the meantime, our new blog, “how to be the perfect landlord” could be just the ticket to set you up for the next 12 months and beyond.

Whether you have an extensive property portfolio, or you’re renting out just one property, getting things right is important. In fact, outstandingly important. My experience in the lettings market has taught me that, as with practically everything in life, there’s a wrong way to do things – and a right way.

Not to put too fine a point on it, landlords who follow our seasoned advice tend to have shorter void periods and longer-term tenants.

Don’t be a landlord who learns from his or her mistakes any more than you have to.

If you’re looking for a smooth path of least resistance, think about the following:

1. See Yourself as a Business Owner

Which indeed you are. This is not a hobby.

So, focus on your end-user/customer and think ahead. Your reputation as a landlord is hard-won, and easily lost. Being firm but fair is the way forwards.

Understanding your duties and responsibilities is essential. There are so many rules and regulations to follow – not least regarding “paperwork” and health and safety. Fail to follow these at your peril – but worry not, we’ll take care of this for you.

Maintain solid records; establish repeatable processes; delegate tasks to people who may be better at them then you. A good example? Engaging an experienced letting agency will remove most landlord-related hassle and stress at one fell swoop.

2. Let To the Right People

Obvious, would you not think?

See above regarding delegation and outsourcing. With a good agency, this should be a given – although nothing is guaranteed 100% (we’re dealing with human beings here). Attention to detail and mindfulness are key, so don’t try to do this yourself. This is one that’s definitely for an agent – but they need to know what they’re doing, and follow strict, legitimate processes. Plus, property rental businesses start to develop an instinct when it comes to the right person, so don’t under estimate the power of the spidey senses.

The desire to fill your house or flat with people who will willingly pay you to do so, especially if you have a mortgage on the property, may override the sensible part of your brain.

And in that direction disaster lies.

Always ensure that your tenants are put through a fair but thorough screening process.  

A legitimate agency will conduct a series of credit and reference checks, referencing their previous address, as well as any CCJs or fraud convictions they may have. Also, references from his or her previous landlord, as well as a current employer. Affordability is key, so expect to see evidence of earnings – either from wage slips or through filed annual accounts.

A “right to rent” check will also ensure that the tenant is legally entitled to reside in the UK.

3. Agree and Sign a Solid, Watertight Rental Agreement

Clarity has the know-how and skills to draw this up for you, and to ensure that both sides stick to their side of the deal. A handshake isn’t legally binding. OK, we know that you know that.

Should the tenant-landlord relationship go south, a robust lease will suddenly become the most important business document in the world. Your agency will rely on it as the starting board from which to act.

We’re always looking to avoid legal action; it’s expensive and stressful, so no cutting  corners here, please. Let’s tie this one down promptly.

And talking of documentation, an Inventory needs to be high up on your list of priorities – tedious though it may be. Most agencies work with third parties, which works well, as this is a specific, specialist skill. The objective is to ensure that your tenant is obliged to treat your property and its fixtures and fittings with due care and respect.

4. Be Available, Be Receptive, Be There

Show your face when your tenant moves in, and make sure that all is well. If you’re not keen to give them your phone number, make sure that the agency has it, and that they can get in touch with you when they need to.

Things do sometimes go wrong, so agreeing to essential repairs or even urgent issues is your responsibility. Communication is key, and it’s worth having the best working relationship possible with your agency. They’re not trying to bug you – they’re walking that fine line between you (their client), and the tenant.

5. Respect Your Tenants’ Privacy

In effect, “don’t be there”, which sort of goes against our previous point. But, you know what we mean. Not only is it the height of rudeness to arrive at the property unannounced, letting yourself in without prior warning is unethical. And, importantly against the law. Literally, don’t go there. Your agent cannot enter without notice, either.

In general though, we’re taking this point wider.

Whilst the house belongs to you, it’s your tenant’s home; where they lay their head at the end of a busy day, and the place he or she returns to for relaxation and sanctuary.

Any whiff of you being too present – for whatever reason – is quite simply bad form. Not a good look. A bit 1970s, dare we say? You’re not Rigby from Rising Damp now, are you?