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Are you an “accidental” landlord?

AMBER Properties, the Northampton-based lettings agency, is on a new mission in 2015 to give increased support to landlords.

There are an increasing number of people who might have become one of the county’s ‘accidental’ landlords. Ausra Uzukauskaite, owner of Amber Properties, explained: “These people may have found themselves in the unexpected situation of owning a property. It might be a couple who have decided to live together leaving one home empty. The mortgage is still due and it may not be appropriate or possible to sell the property.

AMBER Properties, the Northampton-based lettings agency, is on a new mission in 2015 to give increased support to landlords.

There are an increasing number of people who might have become one of the county’s ‘accidental’ landlords. Ausra Uzukauskaite, owner of Amber Properties, explained: “These people may have found themselves in the unexpected situation of owning a property. It might be a couple who have decided to live together leaving one home empty. The mortgage is still due and it may not be appropriate or possible to sell the property. “I believe we can support these landlords turn a financial drain into a revenue generating property.”

This checklist will help landlords make the most of the opportunity:

1. Mortgages: The chances are this is not a buy-to-let mortgage so it is imperative to take professional advice from a reputable mortgage adviser before renting the property.

2. Insurance: Home and even contents, if letting a furnished property, will not be covered under a normal policy so take steps to ensure your asset is protected.

3. Mandatory safety checks: Landlords are responsible for key safety issues including regular monitoring of gas and electrical safety including fires, smoke alarms and carbon monoxide alarms.

4. Maintenance: The property must be kept in good repair and be habitable. Draw up an emergency plan including cover during your absences like holidays abroad.

5. Valuing the property against current rental rates: This is the time to be level headed so undertake essential research on similar properties.

6. Finding a tenant: Check references. It makes good common sense to ensure any potential tenant can afford and will be in a position to pay the rent.

7. Deposits: Register with a suitable deposit protection scheme. Landlords must use a registered deposit scheme, which protects the tenant and landlord.

8. Presenting the property: To attract the right level of candidate, spend time and money ensuring the home is well presented.

9. Tenant relations: Communication is key, with an appreciation of your tenant’s right to ‘quiet enjoyment’ of the property.

10. Marketing: Check out websites and local advertising opportunities.

Of course if you would prefer to pass the majority of these over to an experienced and efficient letting agent, then contact Amber Properties on 01604 622363.

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