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Rental Property – Tips to Keep Calm and in Control

In this two-minute read, we show you how to keep calm and in control when letting your Waterford rental property.

The idea that investing in rental property is easy passive income is a myth. Letting and managing rental property can be stressful, especially for inexperienced or accidental landlords. If you are wading through tenancy treacle, read our top tips to temper your tension.

Do your homework

So many individual landlords trust their gut feeling alone while renting out their property. Gut feeling is a great natural indicator of whether something is wrong. However, referencing your tenant is ESSENTIAL. If you have concerns you can always check your potential tenant on social media.

Build a circle of trust

People buy people. And much like you want the right tenant in your rental property, you want the right tradespeople working in it. We guarantee that you will, at some point, have some repairs that need attention – whether from an accident or general wear and tear. Building a trusted network of tradespeople that provide value for money will stand you in good stead.

Don’t leave yourself short

Now, more than ever, we understand the importance of an emergency fund. In tough financial climates, rent arrears can be more of a reality than a risk. In situations like this, contact your tenant – there may be a simple explanation which is easily remedied. If not, don’t delay in taking advice. If you rely on your rental property investment for income, consider whether rental insurance is a sensible option.

Know when you need help

If it all gets too much, ask for help. A good letting agent can manage the entire tenant journey for you: from tenant sourcing right through to the end of tenancy clean. Inventories, referencing, deposits, rent collection, repairs, and legal and regulatory compliance; you name it, it’s covered.

We understand the pressures involved in letting out your rental property and are here to help. If you’d like to hear how we can make your property let a stress-free experience, give us a call on 051 85 81 82 or contact us via our website or social media channels.

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