Transform your home into a rental property <! - StartFragment ->
With the current gloom in the housing market many homeowners looking to go turn instead to the booming rental market.
Here, experts Belvoir take a look at what these "accidental landlords need" to do to transform their family home in desirable properties to let ...
1. Getting the right tenant
Think about the type of tenants you are looking for before marketing your property.
"Normally, we ask all owners consider their potential smokers, pets or children," said Major Mahil, owner of Belvoir Birmingham Central. The more flexible you are the type of tenant you are looking for the more Probably you have to find a tenant quickly.
However, the quality of the tenant is also very important and all prospective tenants must be thoroughly referenced and credit checked too.
'The quality of the tenant is essential in my opinion, said the owner of Belvoir Cheadle, Lee Darragh. "If you put good quality tenants in a property, resulting in a much happier life for both the agent and the owner. So I think that if a property is well maintained and in good condition, you're more likely to attract quality tenants who are happy to pay what is necessary to have a beautiful home. "
2. Make home attractive to potential tenants
"In my experience of properties that were occupied by the owner usually rent very quickly that the quality of facilities and equipment are far superior to the investment property market," says the owner of Belvoir Hitchin Luke Mason.
"However, we always recommend that properties are freshly painted in neutral colors and carpets are professionally cleaned - this may seem obvious, but in this economic climate, homeowners want to spend as little as possible and the expectations of tenants is high because of the choice of properties available to them. "
Donna Burrell, owner of Belvoir Boston, agrees. Colors are neutral decor usually easier to leave them as they go with any style, "she said." Make sure there is a good feeling when you walk into a room with carpet cleaning, eliminating bad odors and the establishment of curtains or blinds - bare bulbs are not categorically! Make sure the garden and the outdoor area is clean too. "
Adds Wayne Mearns Belvoir Southend-on-Sea, "If the property is for rent unfurnished keeping neutral decor and carpets also help a prospective tenant to consider where the furniture will go how it will look."
3. Make a detailed inventory
"A detailed inventory should always remember," said Lee Darragh Belvoir Cheadle. "This should be done at the beginning of the tenancy and the tenant must agree that they are happy with him shortly after moving in."
Adds owner of Belvoir Stratford Mahal Zain, "Make an inventory detailed photo, too, as proof of ownership issued to tenants for you to check when you move."
4. Tell your mortgage lender
"All owners must have permission from their mortgage lender before renting the property," says Luke Mason Belvoir Hitchin. "This is something often owners do not want to do as it is generally incur additional the bank. "
However, some banks will be more lenient than others ...
"Your mortgage lender should be informed and permission granted," said Lee Darragh Belvoir Cheadle. "And I heard a couple of.
Posted on August 31, 2010.