Landlord guide to renting out property

Even with the most stunning portfolio of luxury homes, renting out a property can be a tough job. As a landlord you are legally responsible for dealing with maintenance issues as they occur and, as even luxury property can attract poor quality tenants, there may also be tenant disagreements to sort out. The general rule is that a good landlord is a satisfied one but it can be tricky to find a landlord guide that will help you to achieve the status of ‘best landlord’.

The good news is that, with a mind to providing a bit of landlord help, we at Arlington Residential have put together a list of landlord tips, which will help you to become (and remain) the best landlord that you can be in 2019 and beyond.

Look after your tenants

If you take notice of only one piece of advice in this landlord guide, let it be this one. In the luxury property business recommendations are everything. Happy tenants, who experience a quick solution to maintenance problems and can contact a support team whenever they need to, are going to be tenants who spread the word that you are a great landlord, with fabulous properties to rent. This is one of the most important landlord tips that we can share with you.

Remember that your property is your business

You wouldn’t leave your other businesses without a great management team to look after them while you are away for play or work, so don’t consider it for your property portfolio. Give some thought as to who is going to manage property maintenance requirements when you are out of town. A good property management agreement will include the arrangement of routine repairs through quality local contractors and offer more extensive maintenance arrangements at an agreed cost.

Set your rental levels right

This is an essential element of any landlord guide. The only way to ensure that you set rent for your luxury property at the correct level is to consult the property experts. At Arlington Residential we have an exemplary knowledge of our market and can give you landlord tips to help you find your way through the individual nuances and special circumstances surrounding the type of properties in our area.

Be very selective about your tenants

Avoid the tenant lottery when you are renting out a property by taking experienced local advice from your property management team. At Arlington Residential we have deep and long lasting relationships with relocation agents, banks and embassies. Whether you are looking for short or long-term tenants we have the expertise to help.

Choose an experienced and regulated property management organisation

Arlington Residential’s lettings team are regulated by the Association of Residential Lettings Agents, which means that they work within a strict set of regulations governing client money protection, professional indemnity insurance and professional standards compliance. We are an experienced team who keep abreast of all the legal complexities of lettings legislation.

Encourage discreet tenants

Not many landlords consider this as one of the landlord tips when they are renting out a property but, in order to find the best and most discreet of tenants, consider taking a private approach to renting your property. At Arlington Residential we have the high-end contacts and up to date, local information to be able to be offer your property for rent without over exposed marketing.

Reinforce good tenant behaviour in an understated manner

Your luxury property tenants are not going to expect fanfares every time they pay the rent on time but there are a few, more subtle things that you can do to show you appreciate their cooperation. As part of our landlord guide one idea we would like to suggest is a discreet card and a bottle of champagne on the anniversary of their tenancy.

Welcome new tenants

A welcome pack is a great landlord tip and very easy to arrange. Make sure that the quality of your gift matches the well-appointed style of your rental property and you will ensure that the relationship between landlord and tenant gets off to a harmonious start.

Keep the paperwork up to date

The great news is that, although contracts, inventories and tenancy agreements etc. need to be kept up to date, you don’t necessarily have to do this yourself. Our letting property management package ensures that all ongoing paperwork is kept safe and organised in a professional manner.

Talk to the experts before adding to your luxury property portfolio

Our unique and valuable knowledge about the luxury property market in the Central and North West London areas is exactly what you need to tap into before you make any important decisions about increasing your property portfolio. One important landlord tip is to never ignore expert advice where it is available. Location, location, location might be the phrase but we at Arlington Residential are the people who can let you have the very latest information on exactly where that location is.

Keep yourself online

If you read a landlord guide it will suggest that, in both the global and local markets, your prospective tenants will expect to be able to view the properties in your rental portfolio online. At Arlington Residential we offer landlord help with this and have connection and excellent marketing experience with Prime Location, Zoopla and On The Market.

Keep the lines of communication open

Your tenants won’t necessarily feel the need to talk to you when they have questions or issues, but they will want to talk to someone and they will want to do it quickly. With the right property management package you can keep the tenant lines of communication open, without even having to pick up your phone.

At Arlington Residential we understand the needs of both landlords and tenants in the luxury property market and can offer a wealth of professional landlord help and advice. We have over 30 years property experience in North West and Central London. Our understanding of this niche property market is second to none and, if you are renting out a property or looking to increase your property portfolio, we would be pleased to offer you some landlord help. Get in touch today for a friendly and professional service in the luxury property market.