Are you letting out your property in Sunderland for the first time? Are you worried that the process will be overwhelming and complicated? If so, check out our beginner’s guide to property letting in Sunderland, and with these simple steps, you could become a successful landlord or landlady quicker than you think:
Make Sure The Exterior Of Your Property Is Appealing
Since we all know that first impressions count, it’s important to ensure that the exterior of your Sunderland home looks as neat, tidy and clean as possible.
Focus On A Welcoming And Clean Interior
Once potential tenants have stepped inside your home, they’ll be looking to make sure it’s clean, undamaged and welcoming. You’ll also need to make sure everything conforms to safety standards. If you’re not sure about this, consult with local estate agents, and they will advise you.
Consult With The Appropriate Parties
You’ll need to consult with several parties before you can begin letting your property, and these include your mortgage lender, your insurance company, your freeholder and of course, your lettings agents.
Be Sure To Budget For Eventualities
While you might be focused on the profit that you’re going to make from letting, you should also think about putting some money aside in case of the following:
- Monthly mortgage repayments that you owe on your Sunderland property
- Expenses you might incur while ensuring the property meets required safety standards
- Furniture and furnishings expenditure (not always necessary)
- Solicitors fees
- Lettings agent/management fees
- Insurance fees
It’s also helpful if you budget for repairs and maintenance that may occur before, in between, or during a tenancy period. Tenants, who don’t have to wait around for general repairs to be carried out, will be much more content and likely to remain in the property for longer.
Work With A Letting Agent In Sunderland
This is the simplest and most affordable way to ensure that your property gets the most reliable tenants possible, and can save you a lot of time and stress. Below are just some of the functions that a lettings agent in Sunderland will perform on your behalf:
- Advertise your property to thousands of potential tenants
- Manage and conduct viewings
- Negotiate the rental price with tenants on your behalf
- Give you sound, non-biased and professional advice and guidance
Enlist The Help Of A Managing Agent In Sunderland
You only need watch the nightmare tenant shows on TV to know just how hard some tenants can be to deal with when you rent out your property independently, and working with a reputable letting agent can help eliminate all those worries. In fact, many letting agents offer a property management service too, so you can kill two birds with one stone when you choose a host property management to help you.
Letting a property in Sunderland can be extremely lucrative, provided you follow the above steps and always work with a reputable lettings agent who will help protect both you and your property.