How Landlords Can Reduce the Risks of Deposit Disputes
In this three-minute read, we look at ways landlords can reduce the risk of tenancy disputes.
Living and working through the worst health crisis the world has seen in a century has been a challenge for all of us, especially landlords and tenants.
And the levels of stress we’ve all experienced can lead to disputes between landlords and tenants if they are not appropriately managed.
At LL Estates, we’re experts in ensuring our landlords’ and tenants’ experiences are positive.
Below are four ways to help landlords reduce the risk of disputes.
Start off on the right foot
The best way to avoid disputes during or at the end of a tenancy is to do everything by the book right from the very start. This means keeping a detailed inventory and having a written tenancy agreement. Not only will all this come in handy should there be a dispute later down the line, but it also sets the tone for the relationship.
A letting agent managing your property can really help to get things off to a smooth start.
Regular reviews (Inspections)
Even if a tenant comes across as reliable and trustworthy, never assume they are treating your property with care.
Through regular inspections, minor problems can be picked up and addressed before they become big headaches. You can’t skip this essential element of the process. If you haven’t got the will or skill to carry them out for yourself, you need someone with industry experience like a letting agent to do it.
And finally…
If a tenant is moving out, a detailed check-out inspection must be done on the day. If you’re in a rush and the property looks fine at first glance, it might be tempting to skip this process. Don’t.
If you discover a big problem a few days after the check-out inspection – a massive burn in the carpet conveniently hidden under a rug, for example – you will struggle to include this late claim in any dispute. Again, letting agents can do this for you.
An experienced letting agent will have conducted hundreds of final inspections, so there’s no pulling the wool over their eyes.
Don’t ignore your responsibilities
As a landlord, you must follow the law and keep the property in good working order.
By treating tenants with respect, you’ll often be rewarded with the responsible use of your property.
But you also need to remember your legal responsibilities.
Never cut corners, and don’t assume that some laws don’t apply to you. Local authorities are getting more assertive on property issues, and tenants know their rights – and how to exercise them.
Dealing with people, paperwork, and legislation can be time-consuming and stressful. If you can’t or don’t wish to do it, a good letting agent can make all the difference.
We hope that helps. The situation around lockdown and what it means to the rental property market is fast-moving and likely to change this week when the Government outline their plans for the UK to get back to a new normal.
The good news is we’re on top of it, so our landlords don’t have to worry about it.
If you are a landlord who has any questions or issues you need support with, we’re here to help.
All the best Louise & the team