Letting a property for the first time can feel daunting. These are the five things we find make the biggest difference for new landlords.
1. Price it right, not high
An ambitious asking rent that leaves the property empty for a month costs more than pricing it correctly from day one. A realistic rent attracts a bigger pool of applicants, which means better tenant choice and less void time.
2. Reference properly
A good tenant is worth more than a good rent. Full referencing — credit, employment, previous landlord — is the cheapest insurance you will ever buy. Never skip it because someone seems nice or is in a hurry.
3. Get the paperwork right at the start
Deposit protection, prescribed information, gas safety, EPC, How to Rent guide — all served correctly before the tenancy begins. Mistakes here are the number one reason landlords struggle to regain possession later.
4. Budget for maintenance
A useful rule of thumb is to set aside around one month''s rent per year for upkeep. Fixing small problems quickly keeps tenants happy, protects your asset, and avoids small issues becoming expensive ones.
5. Decide honestly how hands-on you want to be
Some landlords enjoy managing tenancies; many discover they don''t. Be honest about your time, your patience for 7am boiler calls, and your appetite for keeping up with regulation. Full management typically costs around 10% of rent — for many landlords that''s the best value line in the budget.
Thinking about letting your first property? Request a free rental valuation and we''ll talk you through exactly what to expect.