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Management of Your Property
When you have acquired your property you will need to decide whether to manage your letting business yourself or to employ a local letting agent.
Are you comfortable with all of the processes and regulations of doing it yourself or should you employ an agent for peace of mind?
If you decide to manage yourself, you will be responsible for:
- Preparing your property for letting
- Finding acceptable tenants
- Checking tenants references
- Compiling tenancy agreements, statutory notices and other documentation
- Collecting rent, chasing late payment and dealing with any default issues
- Maintaining the property, fittings and appliances.
- Carrying out routine decorating and other improvements.
- Dealing with any problems.
You must also be constantly aware of your legal responsibilities as a landlord, such as:
- Carrying out repairs
- Ensuring the safety of gas and electrical appliances
- Ensuring that furniture and furnishings meet fire safety regulations
- The rights that your tenants enjoy under the law
