First time landlord - any top tips please?

[zeebee]

I'm about to become a landlord and realise there must be a myriad of helpful things I could/should know about that will help both landlord and tenant have a happy experience.

I have a tenancy agreement and know I need an EPC and gas certificate but would you mind sharing other tips that you have learnt along the way please? Anything considered!

Many thanks.

[gregssausageroll]

Make sure you have sufficient insurance. Not just a standard policy but one that include malicious damage by a tenant.

Advise your mortgage lender

Take references - always

Electrial testing

Are you furnished or unfurnished

It is a business. Don't let your tenant bullshit you. Tell them you expect your rent on time and get them to do it by standing order.

Do inspections

There will be loads of things but those srpring to mind.

[dreamingofsun]

there were a couple of really good threads on here a few weeks back, so suggest you do a search. i've been a landlord for a few years and found them very useful

[biryani]

Do all of the above and join a landlord's association for advice and support. Consider using an agent to manage the property or at least use a tenant find service. I would personally always go for unfurnished as it's less hassle in the long run.

[zeebee]

Thanks very much.

I'm relieved we have some things covered but have taken others on board - hadn't really thought about inspections.

We are renting unfurnished thankfully and have a tenant lined up through a friend (and have other connections with tenants) so have avoided paying a finder fee at least initially.

Will investigate the landlord association, thanks for that, and the other threads. If you think of anything else that'll be great.

[eaglewings]

Insure Insure Insure! Make sure they know you are a landlord.

I say this as I'd told my neighbour about this and he ignored me. Within a week the boiler malfunctioned and flooded the bedroom. £1000 later I think he might agree with me!!

I have also seen it work well for another neighbor who had a flood bu also had the correct insurance. It paid to find the leak, mend it, repair all wall and floor damage and pay for the tenant to live elsewhere.

[mamatomany]

Insure the bond/deposit rarely covers the amount of damage they do trust me.

[redrubyshoes]

Draw up guidelines of what you will and won't do DIY wise.

Big things like boiler etc no problem but I had a tenant who phoned up every time a light bulb went and it drove me crazy.

Make sure they are under NO doubt what is their responsibility gardening and general upkeep etc.