Investing in rental properties has long been one of the most popular sources of passive income and there are steps you should take to ensure the process runs smoothly…
The tenant eviction ban ended on the 31st May and the notice period that a landlord needs to provide has now been reduced from 6 months to 4 months. However, this doesn’t mean that tenants may now face sudden eviction. Tenants can still legally fight against eviction and there is a 14 day notice period before the final point where bailiffs are involved.
If you’re a landlord who doesn’t carefully follow the right procedure then you could find yourself committing a criminal offence. You will need to tread carefully.
There are many circumstances where eviction may seem necessary for removing a tenant. Damage to the property, criminal activity, and rent arrears are some of the most common ones. So, it’s vital that you and your tenant establish an open and honest relationship and that the initial tenancy set-up is handled as well as possible.
Here are 5 tips to help protect yourself during a difficult tenancy:
Know your potential tenants
Run background checks and ensure they have the correct ‘Right to Rent’ status. Make sure you get references so you can be confident that the tenant is right for you.
Make sure you have a complete and up to date inventory of the property
This will really help when it comes to damage assessment and any future legal recourse over your property and its contents.
Make sure that you have a legally sound tenancy agreement in place
Get a specialist solicitor to review your paperwork. It’s good practice that will help you in the future should you have any legal disputes.
Does your prospective tenant understand all of your important boundaries?
For example whether or not you allow pets, acceptable noise levels, sub-letting, maintenance and care of furnishings, any decorating etc.? Have an open conversation about the points that are key to you and make sure they are captured in your agreement.
Encourage written communication
It will be a useful record - both for your benefit and that of your tenant. It will also help with resolving issues amicably when either of you can refer to a point that was mutually agreed upon in the past.
Despite all efforts, sometimes issues may occur and relationships break down. In the first instance, continue to keep open and recorded communication. You may be able to resolve issues directly but otherwise, these records will be important for any legal proceedings. Eviction should be a final resort if all else fails and taking the above steps will help minimise the need for evictions.
A good letting agent can help with all the tenancy process points, from vetting and referencing to agreements and ongoing management of the property.
If you would like to know more about how we find and keep the ideal tenant for you, click here for details.