Harpenden agent advises landlords to be prepared
- Credit: Archant
It’s still a while before we welcome in 2017, but those thinking of letting property in the New Year are advised to plan ahead.
A local housing expert has recommended that would-be landlords start preparing, to allow time to get the benefit of full marketing.
Ryan Green, head of Savills in Harpenden, said: “The lettings industry is fast paced, so be prepared to act quickly. Give yourself enough time. First and foremost, check your mortgage will actually allow you to let your property out – some have clauses, which don’t.
“Choose your letting agent carefully. As members of the Association of Residential Lettings Agents (ARLA), Savills’ clients are safe in the knowledge that we have Client Money Protection.
“Think about how long you want to let your property out for. Keep in mind corporate tenants want to rent for a minimum of two to three years. If you are only thinking of letting for six to 12 months, you may want to price your property more competitively to secure a tenant quickly and thus avoid lengthy void periods.”
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Ryan suggests that understanding how much tax you have to pay and whether it makes financial sense to let the property is particularly relevant for those ‘accidental landlords’, who might only be letting in the short-term.
Other factors include thinking objectively about your property and what work might need doing, with decluttering and re-painting often required as a minimum.
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Specialist landlord insurance, essential safety tests, professional cleaning and an independent inventory are also important considerations, according to Ryan.