THINKING OF LETTING YOUR HOME?
There are many reasons why people decide to let their home rather than sell it, not least of which is the fact that they are holding onto a potentially valuable asset. You may be thinking of taking a year out to travel abroad and what better way to fund your trip than with a regular rental income which could also cover any existing mortgage repayments. Or maybe you need to relocate for your job and don’t like the idea of selling up– you can always sell the property later, but renting in the interim gives you options until you decide what’s best for you. However, before you take the plunge, there are a few practical considerations to take into account to help you enjoy a successful rental experience.
(To Let - Garden Apt, Belgrave Sq. - Click here for more information)
LEAVE IT TO THE EXPERTS
If you have never rented out a property before then take the pain out of the process and engage a lettings agent who will look after the whole arrangement for you. They will check references, oversee viewings and deal with any problems that may emerge from your new tenants, such as plumbing or electrical issues. They are there to take the stress out of it, leaving you safe in the knowledge that both your home and your tenants will be well looked after. After all, there’s not a lot you can do from abroad about a burst water pipe!
(To Let - Hollybrook, Brigton Rd. - Click here for more information)
Your letting agent will be able to advise on the correct level of rental income you might expect for your property. They will be familiar with similar type properties in your area so they will be well-placed to advise you on the current rental value. When deciding on what type of letting term you want, either long-term or short-term, don’t forget to factor in there may be gaps between tenancy agreements if you opt for short-term which may not be a financially viable option for you.
(To Let - Sandford Rd., Ranelagh - Click here for more information)
LETTING TO FRIENDS
While it may seem a good idea at the time, having a personal relationship with your tenants, either friends or family might not be the wisest move to make. With the best will in the world on both their part and yours, things can quickly go wrong with the arrangement as problems arise which may not be resolved as quickly as they would like or expect. It’s always a good idea to keep the arrangement professional and impersonal so where possible steer clear of this type of arrangement.
(To Let - Shelbourne Hall, Shelbourne Rd. - Click here for more information)
The rule of thumb is to keep it simple with a neutral base colour on walls and floors which should be reflected in your choice of window dressing and soft furnishings. Less is definitely more when getting your property ready for rental. Prospective tenants want to be able to visualise themselves living there and an interior that is too personalised may not have the desired effect!
(To Let - The Crofton, 15/16 Georges Place - Click here for more information)