Learn How to Rent Out Your London Property in No Time

Learn How to Rent Out Your London Property in No Time

Factors to Consider When Renting Out Your Property in London

Every year a lot of people move into London for work or studies and finding a place to rent out in the big and crowded London city can be a very tiresome activity. With housing facilities prices on the rise in London, renting out your house or apartment can be a considerable source of finance to earn you some extra cash. This results to many people buying apartments which in turn secures them returns on their investment. In the evolving and growing rental industry in London, putting a “For rent,” signpost is not enough. Setting up your property to rent in Fulham so that tenants can move into your property can make a huge difference both in appearance and the price you are charging.

If you are a newbie in this industry of renting out a property you are in the right place, as I will be giving you ideas and tricks for preparing your property for renting which will make your property to stand out in this competitive market. These ideas include;

  1. Fixing up your property
    You should think about what you were looking for in a house when you were searching for one. If the feature requires a significant renovation, you ought to use your taste and judgment to come up with accommodation from scratch. If it is about fixing things up, you should do a thorough inspection and make sure you fix anything that is broken and changing anything that looks extremely old and beyond repair. All the windows and doors should open properly, and also the water and electrical systems function properly. If you want to do painting on the house, you should pick bright colours as they look more appealing to the eye and they seem to make rooms look larger.
  2. Cleaning your property.
    Tenants leaving your house after the rental agreement expires should leave the house sparkling clean, and you will do so by giving them a sparkling clean house on day one.
    You can always consider hiring professional cleaners if you have no time. They should wash walls, floorboards, and clean the carpets also as well as completing all tasks.
  3. Adding fundamental equipment
    Suppose you are aiming for a higher rent; you should think of adding some original items such as white goods like a washing machine and a dishwasher also adding a microwave and a vacuum cleaner will be okay. Going an extra mile, you can add some needful items like dishes, bedding sheets, bed, and also a drying rack to your property.
  4. Be responsible for your property
    In the UK, landlords must assure the safety of their rental properties and ensure that their property can not cause any injuries to their tenants or the surrounding neighbours. You should ensure that electricity gas is working in great condition and no health-compromising issues from your property. Besides, fire alarms must also be working.
  5. Determine the amount of rent to charge
    You can consider doing a survey at your neighbourhood about the rent price at that specific location and also check online for similar properties at your location. Your prices should be realistic, or else nobody is going to rent your property for example if you have a property to rent in Fulham you should check the rent for similar properties charged in that area.
    6. Get an insurance cover for your property
    As a property owner of a property to let in Fulham, this option should be amongst your priorities; Insurance will cover your home structure, including all legal costs and repairs when needed. You can also join letting agents as they offer landlords lower commissions whereby these letting agents have a team of professional experts that take care of everything for you, and they find you fantastic tenants that will treat your property as you would, and this can avoid regular repairs to your property.
  6. Getting a written lease agreement
    A written lease agreement is an agreement between the tenant and the client which states each party’s rights and obligations. A good lease agreement should include;

Security deposit – the client, gives out a one month’s rent or more

  • The due date for the month’s rental and late penalties
  • Repairs and the person responsible
  • Tenant’s details
  • Behavior rules such as noise, neighborly conducts
  • Pet rules
  • Eviction terms

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