Thanks to the advancement in technology, and the various number of online tools available, landlords can now easily manage their property remotely. From finding tenants online to virtual viewings, the whole process of letting out your property can easily be done online these days. However, as a landlord, you always want to ensure that you find the best tenants who will take care of your property, and you want to make sure that your property is well looked after. Let’s say you’ve got some property in Cheltenham and you’ve hired estate agents in Cheltenham to help you put your property on the market; but, who is going to take care of your property on the ground? So, for those of you who are managing your rental properties from a distance, here are some essential tips to help you manage your rental property remotely.
Table of Contents
Find Tenants That You can Trust
Since you won’t be able to visit your property as often as you might like, you must find tenants whom you can trust. As long as you have a good relationship with your tenants, and you can trust your tenants, you will be at peace knowing that your property is in good hands and that it is being taken care of. To find trustworthy tenants, make sure that you do a thorough background check and maybe even ask for referrals. Basically, you want to screen potential tenants properly before you let out your place to them.
Always Have a Man on the Ground
Now, this could be a family member or a friend who lives in the vicinity. You need to have someone on the ground who can take a look at your property at frequent intervals just to make sure that everything is in order. If you’ve got a property in Cheltenham, you could always ask your letting agents in Cheltenham to keep an eye out. In fact, you can even hire someone you trust to be your property manager just so that you know your property is being looked after properly.
Go Digital
Set up digital payments so that you no longer have the deal with the hassle of delayed cash payments or late cheques. In your rental contract, specify an account number that your tenants should transfer the monthly rental to, along
with the last date of making the rental payment. You could even use an automated number lock or finger lock on your main door so that you don’t have to worry about handing keys to your estate agent or new tenants.
Use Online Tools to Your Benefit
There are so many online tools that tenants can use to their advantage. Some online tools allow tenants to make payments via the platform while others allow owners to advertise their properties online. Some websites even allow tenants and owners to sign lease agreements digitally which certainly reduces the manual paperwork required. All in all, these online tools make the lives of the tenants and the owners much easier and make the payment process seamless and efficient!
Have Strict Terms for Leasing
Let’s say you’re worried about young bachelors converting your rental home into a bachelor pad. So, you could have strict lease terms where you only let out your property to families. Similarly, you could have terms such as no smoking inside the property or no loud music after 10 pm to try to reduce the potential damage to your home. Make sure that these terms and conditions are included in the lease agreement and that your tenants agree to these terms before signing the lease.
Manage Your Security
The last thing that you want is a lapse of security in your home. So, you must always install security cameras around the perimeters of the house. Both you and your tenants should have access to these cameras. Also, that way you will have a fair idea of what is going on in and around your property. Apart from security cameras, you must also install carbon monoxide detectors and smoke detectors in the property. Additionally, a smart door lock or a home alarm will also be a great way to prevent burglary or vandalism. Plus, these additional safety features will be highly appreciated by your tenants.
Communicate with Your Tenants Often
One of the best ways to manage your property remotely and to know that your property is in safe hands is by communicating with your tenants regularly. Now, that does not mean that you call them once a week just to find out about your property. Maybe a monthly email or a phone call every two months will be a good way to open up communication lines with your tenants. Ask your tenants to contact you in case of any maintenance work, upgrades or repairs and most importantly, in case of any emergencies.
Despite all this, you should plan a yearly visit to your property just to make sure that everything is top-notch and in order. Also, it would be nice for tenants to get to know their landlord!