Essential tips for renting your apartment in Bath for the first time

Should you be thinking of renting your home in Bath you may understandably be cautious.

The amount of legislation and regulations you need to adhere to as a landlord is overwhelming, and the constant negative press is overbearing.  Yet your desire to rent your apartment or purchase one for rental remains.  The demand for rental properties in this glorious city is only increasing, yet the number of properties available is not.  Therefore there is a great opportunity, and to make sure you hit the ground running we have some essential tips.
 “With the 50th annual English Housing Survey last month finding that the private rented sector (PRS) has shrunk from 4.7m dwellings in 2016-17, to 4.5m in 2017-18, there has never been a greater need for landlords. Letting your property is a big decision though, both for you and the tenants that will be living there, so it’s important you understand what being a landlord means. We’ve put these tips together to ensure you understand your responsibilities as a landlord, know how to protect your property, and keep your tenants happy; dealing with any issues that may arise,” explained ARLA Propertymark President, Peter Savage.
Essential research
Before you start to look for a property or list your apartment for rent, you need to understand the market.  What rental income could you or your potential apartment command?  What is it that tenants actually want and need?  The properties that have achieved higher rental figures are those where the landlords have taken time to understand Bath’s tenants and ensured their apartments fulfil many of their wishes.
With a growing list of tenants, we understand their priorities.  Whether they live locally or are new to the area, in-property amenities are just as important as location.  Remember, for many tenants, renting is a long-term choice not a short-term solution. They want a home they can fall in love with.
Essential knowledge
Where many first-time landlords trip up is failing to fully understand their responsibilities.  There is no way of glossing over the fact that there’s a lot to digest, but we’re here to make the process easier and a lot smoother for you.  By managing your property we can take away the strain of you being on call 24/7.  We can ensure you and your property are compliant as well as keep you updated on changes as and when they occur.
By building a strong relationship with your tenants, issues can be resolved quickly and tenancies renewed.  No one wants any void periods draining resources.
Essentially ready
Is your apartment looking its best?  The more attractive it is to potential tenants the more interest you will receive.  So don’t delay in completing those DIY jobs you may have been neglecting.  Think about giving your apartment a fresh lick of paint and don’t opt for cheap finishes.
Your tenants are more likely to be professionals who, as we said, are wanting in-property amenities such as en-suites and high-end kitchens and bathrooms.  Make the most of those delicious original features – one thing we are certainly blessed with in Bath is a wealth of stunning period property, so don’t hide it.
Essentially yours
Becoming a landlord for the first time doesn’t have to be a daunting experience; we are here to guide you through every step so you can relax in the knowledge that your home is being cared for by us and your tenants.