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Lettings & Property Management, Uncategorized

Managing your Properties – DIY Style

Please don’t think that this is an exhaustive list, as many tasks need to be taken care of if you’re planning to manage your own property.  But, here are some of the tasks you will have to undertake if you decide to become a DIY Landlord:

  • Find your own tenants
  • Carry out viewings, answer questions, choose the right tenant for your property
  • Value your property correctly for rental purposes depending on property type, specification, amenities, demand
  • Arrange an EPC
  • Arrange an annual gas safety certificate
  • Take out tenancy references, and run credit checks (and maybe even take guarantors)
  • Let your insurer and lender know that your property is being rented (especially if you have an ordinary household mortgage/insurance on it)
  • Make sure that you and your tenants have appropriate insurances in place
  • Take the tenant’s deposit and ensure it is properly protected
  • Arrange for the return of the deposit at the end of the tenancy, making any deductions as necessary (and dealing with any disputes)
  • Arrange for an inventory prior to a new tenant moving in
  • Arrange check-outs 
  • Collect the rent 
  • Provide your tenant with a legally compliant tenancy agreement (usually AST)
  • Re-negotiate renewal or rent or both
  • Keep the property well maintained and repaired, and any appliances supplied by you, serviced
  • Carry out regular assessment visits, complying with your tenant’s rights
  • Be able to deal with emergencies 24/7 including Christmas, New Year and whilst you’re on holiday
  • Deal with any unexpected problems – we’ve witnessed a few like gas leaks, flooding, noisy neighbours
  • Serve notice to quit if required
  • Arrange eviction if necessary
  • Avoid void periods
  • Keep proper accounts for filing to HMRC (additional rules apply to Overseas landlords)
  • Houses in Multiple Occupation (HMO) – if you own and manage one of these, there is additional legislation to comply with
  • Beware of Money Laundering, abandonment, lease covenants, Health & Safety legislation
  • Comply with legislation relating to furnished properties

If the above fills you with terror, for either Tenant Find Only, Tenant Find & Rent Collection or our Fully Managed service, contact Brighton & Hove’s Callaways Lettings Agents 01273-735237.

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About Heather Hilder-Darling

I write about things I have a passion for - property, business and life

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