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It is a landlord’s responsibility to provide their tenants with a safe, secure, stylish, and comfortable space, yet you might not know where to start if you are new to the world of property management.

To help you become a successful first-time landlord, quotezone.co.uk has developed a helpful infographic on how to help you lease a property in 2018.

Choose the Right Insurance

Quotezone-Landlord How to Prepare a Rental Property in 2018

As above, the infographic suggests property insurance for landlords is essential. It does not matter if you have one tenant or two-hundred tenants, you will need to invest in an insurance policy to protect your buildings or contents – or both.

You’ll also need to select a property that covers various potential problems, such as water damage, fire, or theft. Use a comparison website to provide insurance coverage based on your number of tenants, rooms, and property type, such as commercial or residential.

Avoid Invalidation

invalidation How to Prepare a Rental Property in 2018

There may come a time when a tenant chooses to sublet your property to another tenant.

However, if you fail to notify your insurance provider of the subletting tenant, then you might risk invalidating your existing insurance policy, which can take a big toll on your finances.

Hire an Experienced Property Manager

property-manage How to Prepare a Rental Property in 2018

Do you lack the confidence, experience, or desire to manage a rental property? Ensure it remains in tip-top condition and that all tenants’ problems are solved by hiring an experienced property manager.

They will be responsible for regularly inspecting the property to ensure there are no unexpected sublet tenants, and that the property is both stylish, safe and comfortable. You can, however, choose to perform the duties yourself, if you have enough free time.

Maintain Health and Safety

Every business owner has a responsibility to adhere to various health and safety requirements – and landlords are no exception.

If you want to provide your tenants with a safe environment and avoid legal repercussions, you will need to make sure the property is fit to rent before you hand over the spare set of keys. For example, quotezone.co.uk recommend you have your boiler serviced prior to leasing.

Understand the Housing Market

1023_homes_1200x675 How to Prepare a Rental Property in 2018

Many first-time landlords make the big mistake of trying to advertise the property to everyone, but it could be a smarter idea to narrow down your search. Rather than trying to attract any prospective tenant, you must advertise the property to a specific occupant.

For example, you should consider their age, income, and the property’s location before making your decision. Of course, you should design a property that will then attract your target tenant so that you can avoid an empty property.

It’s vital to learn the ins and outs of the various rules and regulations you will need to follow when renting a property in 2018.

Yet all the research and hard work will be worth it once you have handed over the keys and welcome a financial return on your investment month after month, year after year.

If you are a budding landlord and want to learn how to successfully rent a property, read the above infographic from quotezone.co.uk that will provide helpful tips on leasing to tenants for the first time.