During your lifetime, most of us have either rented a home or rented a property out to a tenant. For individuals that have left home as a young adult and moved straight into their own home, therefore never renting are in the minority. On the other hand, there are people who bought an extra house for rent. While you would anticipate a landlord/tenant relationship would be somewhat smooth sailing, I have to tell you it rarely is. So what should you do and what are the basic rules when you are a landlord or a tenant?
Settling your debts in full and on time, this means as a rent payer make sure your rent is paid Nothing is this life is free, so if someone is providing you with a house then you should not make them wait for payment Take care of the property and grounds and avoid destroying it. Treat the home as if it was your own, you wouldn’t want someone destroying your things so don’t do it to theirs. Importantly only as many tenants as agreed upon should stay there – be honest and do not get roommates behind your landlord’s back.
If it is you who is the landlord, make an effort to ensure the property is in a decent state of repair. Make an effort to ensure it is not in a state of disrepair, no broken windows or doors are satisfactory. If you are responsible for the service payments such as gas, make sure they are paid and up to date; as to avoid any upset for the new tenants. As per tenancy deals you do not have the right to turn up and let yourself in unannounced, therefore do not keep an extra set of keys. You need to honour the tenants right to privacy, even if it is your home , they are paying you for the right to live there.
As a Forest Hill Houses expert I believe a contract between the landlord and tenant is also a brilliant thing to do, anything agreed upon should be put down in writing. For an example, I write down who is taking care of the repairs or paying for the gas. What about pets? By having it all in writing, as a landlord or a tenant, you can avoid issues that could crop up and cause upset to both individuals involved, also make sure you don’t break the agreement you have made.
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