Letting out a property always poses a risk to landlords, as they face the possibility of renting out to nightmare tenants. Incidents of renters causing damage to a residence, allowing individuals who are not on the lease to live in the home or suddenly leaving the property without paying rent are rare occurrences, but they do happen. Fortunately, there are several ways in which landlords can protect themselves from such circumstances.
Deposit protection services
The Tenancy Deposit Scheme (TDS) was established in 2003 as a deposit protection programme. Approved by the government and operating in England and Wales, the TDS serves both the landlord and the tenant and makes certain that both parties understand and agree to the terms outlined in the lease. Protection for the landlord’s property is crucial under the scheme, as it bans tenants from having raucous parties, requires renters to keep the location clean, and mandates that they leave the home in the same condition they found it.
The Citizens Advice Bureau is an excellent source of information on the rights of landlords and tenants. Its information on what the tenants are responsible for covers everything from how renters should report repairs to how they are responsible for any damage caused by visitors.
Checking your inventory
Once the tenant has moved out, landlords have to ensure the property has been maintained in a rentable condition. The letting agent is usually responsible for carrying out inventory checks, either using in-house staff or an outside source. A property inventory app has become a popular tool for landlords and agents as a way to provide a complete report on the condition of a residence during check-in and check-out.
Companies such as https://inventorybase.co.uk/ provide a property inventory app that enables agents or landlords to create digital reports on any rental locations or commercial facilities. This enables the user to choose a template to customise the number of rooms and provide details of any items in the property. It also contains checklists, an auto-text dictionary, and a voice recorder that enables the user to describe the condition of each section of the property.
While renting out a property may still be a risk for landlords, there are ways in which they can protect their investment and avoid tenant disputes.