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Advice for Landlords Part 2

Property is a competitive industry, but I believe it is an ‘and’ industry not an ‘or’ industry.

What I mean by that is more there is space within the property industry for one agent and another, it is not a case of one agent or the other and the same goes for landlords.

Multiple agents and landlords can enjoy success in the space without getting in each other’s way and, in fact, if everyone worked more cooperatively, the whole industry would grow.

That is why I have decided to release a free ‘advice for landlords’ series, not just for those landlords with whom I already work, but for everyone.

Because, ultimately my ethos, which is something I have instilled in my colleagues here at Rocket, is that we want property to be an attractive investment and for landlords to be profitable across the board, whether they work with us or not.

And so, our second piece of free advice for landlords is make sure your property looks good.

Appearances and first impressions are huge when trying to attract tenants and there are some very simple things landlords can do to make sure your property is presented well.

Stage the property, put out some bedspreads, cushions and lamps. Here at Rocket, we will provide staging items in some cases, but either way it’s a very small investment to make.

Most importantly make sure the property is cleaned thoroughly.

Black mould, especially in the bathroom and peeling paint can put off a tenant instantly, so it is essential to deal with these maintenance issues before listing the property on the market.

It is cheap and easy to do, but it does make a difference and it means you avoid any questions from potential tenants, which speeds up the letting process.

On average, most landlords we work with rent their properties out for around £4000 a month and so if the property is empty for just one week that is £1000 lost.

But, if landlords spend just a few hundred pounds on maintenance and cleaning it increases the chances of quickly find a tenant and you will comfortably make back your investment and some through the extra rent.

And finally, tenants will be more inclined to maintain personal cleanliness standards and take better care of the property if it was already well kept when they moved in.

This should slow the effects of general wear and tear and save the landlord money in the long run.