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Renting your property? 5 things to REALLY watch

Renting your property? 5 things to REALLY watch

Old Feb 25th 2016, 2:57 am
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Exclamation Renting your property? 5 things to REALLY watch

If you need to return to the UK, you are going to need to think carefully who will manage your property. It is a legal requirement to have a property manager, but take care on who you chose:
(1) Toxity reports are needed BEFORE a tenant goes in (because you do not want the costs of striping walls, floors and having your house condemned if someone uses it for a meths lab when you are gone). A serious risk right now.
(2) Make sure you let your agency know YOU chose your tenants (that's right, otherwise there are tricky clauses that say they will choose on your behalf)
(3) Make sure you know your payment dates for water. Why? Your tenant might pay on time, but your agent can be VERY slack in Paying the actual bill - which gives you a less than great payment history.
(4) How do you want your property maintained? WELL or SUBSTANDARD? Water leaks fixed within a day or 2 weeks with water damage? Or perhaps bills for workmanship that Is shoddy? I spent over $2,000 putting it right on my return, so watch out
(5) choose tenants who LOVE GARDENING. Why? Your managing agent may not care about your bush and weeding your garden (and they will argue its your responsibility)

That's only the start. Watch for competence of staff or high turnover of staff ( < snipped > ). My experience was a bit scary, so make sure YOU protect your ASSET when renting out. My horror story need not be your experience. Good luck !!

Last edited by BEVS; Feb 25th 2016 at 11:11 pm. Reason: Wee snip.
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