15 May 2019

Posted by Discount Insurance on Wednesday, May 15, 2019
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Happy Tenants

In these turbulent times, a landlord’s relationship with your tenants could be the best investment you make.

Renters’ needs are evolving and in order to attract good tenants, landlords need to keep pace with them. Small changes in your approach to your tenants, as well as to the property, could be the difference between void periods and a profit.

Here are some tips on ensuring you stay ahead of the pack in a shifting market.

Get to know your tenant

Like any relationship, the one between a tenant and a landlord needs nurturing and commitment.

Good landlords attract good tenants, and if you put in the effort to keep on top of repairs and respond quickly to problems, your tenants are more likely to respect you and your property. 

Good tenants have high standards themselves, don’t make the mistake of dismissing them and assume they are going to wreck the place. If you treat them like that, they may just behave like that.

Take regular inspections and an interest in the property, but don’t be too chummy - stay within the legal requirements and be sure to give your tenants plenty of notice before popping round.

Invest in decent fixtures and fittings 

Creating a wow factor can mean the difference between a quick let and a money-sapping yield period. There’s no need to blow your budget, but don’t opt for the shoddiest. Tenants can spot cheap and uncheerful a mile off and will treat the place accordingly - if you don’t care, neither will they.

Be prepared to be more flexible 

Many landlords’ knee-jerk reaction is to ban pets. By waiving a pet ban, landlords could attract more responsible, settled tenants. Think about placing an ad with ‘pets considered’ which ensures you stay in control and allows you to make a decision once you’ve met your potential tenant - and their furry friend.

Help them put down roots 

And on that note, do what you can to help your tenants settle in. It may be your property but it is their home and if you are keen to encourage longer tenancies, allowing them to personalise it can make a difference. This may mean allowing them to hang pictures or even decorate. Ensure conditions are included in the tenancy agreement.

At Discount Insurance we offer specialist Home Insurance to protect your home and its contents at an affordable price you'll love.

To find out more visit discountinsurance.co.uk or to get a quick quote call us on 0800 294 4522! 
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