Choosing to let your property isn’t as easy as finding a tenant and making a profit each month; there are lots of factors that must be taken into consideration.
As we explained in our post on why landlords choose to rent out their property, although it’s a really good investment and way to make money, it can also be a complicated and time consuming process. Whilst we think that the benefits far outweigh the negatives, it’s definitely worth being prepared for potential issues.
Problematic Tenants
Dealing with problematic tenants is probably one of the biggest concerns for homeowners choosing to rent out their property. Even if you have completed all the necessary credit checks, it doesn’t guarantee that your tenants are going to reliable and trustworthy. It also doesn’t guarantee that they are going to look after your property. Whether by recklessness or by accident, there is always the possibility of something in your home becoming damaged. Whilst this is what the security deposit is taken for, it doesn’t mean that it’s always going to cover the cost.
Luckily, at Belvoir Sutton Coldfield, we take the time needed to help find you tenants that are both safe and reliable. We carry out the necessary reference checks to ensure that the tenant is someone who can be trusted to look after and respect your property.
Issues with Rent Payments
Another problem for landlords is the worry that your tenants are not going to pay the rent – either on time or at all. This can be a serious headache for the landlord, especially those who still owe money on their mortgage and are depending on the money each month. Unfortunately, whilst credit checks and references should help you find reliable people beforehand, life isn’t always smooth sailing and sometimes good people find themselves unable to pay their rent.
When working with Belvoir Sutton Coldfield, you can be comfortable knowing that your rent payments are being monitored. We will be made aware as soon as a payment hasn’t been made, so we can take action ASAP.
Stress over all Property Management Jobs
A major problem that homeowners find when they first decide to rent out their property is fitting everything into their busy schedule. From filling in paperwork, to finding and vetting tenants, to dealing with rent and complaints – there lots of little jobs that are essential to successful property management. A lot of people can find it overwhelming, especially when they are attempting to fit it around a full time job.
This is when it’s a really good idea to hire a letting agent to help you out. At Belvoir, our property letting experts are fully prepared to take all the daily tasks of your hands, so that you don’t have to worry about a thing.
If you don’t want to experience any of the issues above, we suggest that you get in touch with the team here at Belvoir Sutton Coldfield. We can help you every step of the way, ensuring that the letting process goes as smoothly as possible.
Just give us a call on 0121 321 3388 and we’ll be more than happy to help.
