A Guide to Letting Property in Belfast
Tips for Letting Your Property in Belfast.
If you are considering letting your home in Belfast, there are a couple of things you need to put into consideration. Being a landlord comes with its own share of responsibilities, and it is important to know about them. You will be able to keep the tenants happy, know how to protect your property, and deal with any issues that might come up. Below are some tips from YPG Letting Agents Belfast that will go a long way in helping you.
You need to know the market before letting out your property. You should have a look at similar homes in Belfast so you can know how much they are letting them for. You may end up chasing away prospective tenants if you set the rent too low or too high. You should know your target demographic by knowing who the property suits. When you do a lot of research, you will be able to set competitive rent and choose the right tenants.
Preparing the Property
Before renting out the property, you should first decide whether you are going to let it as unfurnished or furnished. You should remove items of value and personal belongings from the property. Remove old and tired items or any items you consider to be an ‘acquired taste’
Many tenants prefer a blank canvas because it gives them the chance of picturing themselves in their property, and you will also have an easier time maintaining the property when a tenant moves out. You always need to remember the exterior of the house because it is going to make a lot of difference.
You should hire professional cleaners so that they can do a deep clean. They will scrub every inch of the house and make sure it is as clean as possible.
Sort out the insurance
You need to inform the insurance company about your intentions of letting out the property because the policy will most likely need some amending. You should get landlord insurance because it is going to protect you against losses connected with the property.
Know your responsibilities
When you let out your property, you go from being the homeowner to being a landlord. There are responsibilities that will come with being one. Look at your mortgage agreement more closely because there are some that don’t allow letting out properties. If you are not sure about this, talk to your mortgage lender so they can advise you accordingly.
Being a landlord is a 24/7 job, so you need to be ready to get calls at any time of the day or night. there are some issues that will require immediate attention, for example, a broken boiler or gas leak.
The legal stuff
There are regulations that you need to know as a landlord. When letting your property, it is important to know about these laws so you don’t break any of them. The laws are there to protect both you and your tenants.
Letting your property in Belfast is not that complicated, provided you use the above tips.
Tips on how to let your property in Belfast.