What Can A Landlord Do To Minimise Damage to Their Property

1. What Can A Landlord Do To Minimise Damage to Their Property? With the UK housing market reaching record high values approaching £400 billion, the private rental sector can be a lucrative business, but nothing is certain. Typically, landlords don't enter into a tenancy agreement expecting to encounter problems and probably would not assume that damage to the property in an inevitable event of operating in the private rental sector, but it does happen! Today, we are going to share with you how landlords can prepare for the worst, plan for the best and protect their business. Tenants In our years of experience as providers of property inventory clerks in London has given us the confidence to say that most tenants are reliable, responsible and respectful, however there are exceptions that can turn into liabilities without the right safeguards in place. With any business model, problems, issues and damage do occur whether they are material or reputational and this

2. is true of the private rented sector. Landlords run an inherent risk of accepting tenants who turn out to be careless, reckless or even malicious in their treatment of the property and its contents. By default, landlords are uniquely exposed to the risk of damage since they have to rely heavily on trust and when handing over the keys to the property are relinquishing a fair amount of oversight and control. So when that trust is broken, there are practical and legal ramifications but it is always best to mitigate any risk right from the beginning of the tenancy. Here are a few strategies that might help. Assured Shorthold Tenancy (AST) Before you are bound by contract with a prospective tenant, we would recommend to do research and get references provided by previous landlords, if applicable. Keep in mind that there have been instances where a previous landlord will support the applications of troublesome tenants just because they don't want to deal with the 'problem tenant'. For further insight, you can check into the prospective tenant's rental history. Checks should include: -Adverse credit -Landlord referencing -Employer references -Affordability calculations -Right to rent check -Documents – bank statements / proof of identity Once you are confident enough in your choice of tenant, consider adding special terms to your AST. You may want to ensure that expressly forbidden behaviours such as smoking, keeping pets or excessive use of open flames are clearly highlighted so there cannot be any chance of your wishes being misinterpreted. Think about issues or scenarios that render your property particularly susceptible to damage and make provision for them. The tenant will be given the responsibility to inform you of damage that has occurred or, just as importantly, conditions which might imminently contribute to damage so strengthen any known obligation in explicit terms. Property Reports Before your tenants are handed over the keys to your property, it is essential to observe best practice by conducting property inventory in East London. This involves a thorough inspection of the premises down to the last detail of the decor, furniture, and appliances as the information in this document will clearly state the condition. This puts both parties on an equal level of understanding and creates equal footing.

3. The inventory report process can be lengthy and intricate but there are ways to simplify it. Commissioning an inventory clerk in Bromley is a viable option to complete the report. Scotts Inventory and check in service London Scott Inventories offers a range of AIIC approved inventory and check in services to agents, landlords and tenants across London. Our comprehensive inventory and check in service enables the tenant to meet the clerk at the property and get a walk through the inventory. Tenants will then be shown the meter locations and witness the testing of smoke alarms. We work with a team of trusted property inventory clerks across London, and provide ongoing training to ensure that there are high standards and a consistent reporting style being maintained. Content Source: Property inventory Clerks in London