What Landlords Can Do Now to Avoid Deposit Disputes
With the new year upon us, it’s a great time for landlords to take stock of how their properties are performing.
One ultra-important area that always needs a proper plan is how to avoid rows over deposits.
Here are six simple steps that will go a long way to ensure landlords reduce the risk of deposit disputes.
Start right – Get your vacant property professionally cleaned by a reputable cleaning company before any tenancy begins.
Go pro – Have a professional inventory drawn up by a reputable provider at the start (and the end) of any tenancy. Get the tenant to sign this as it could be important in the future if disputes arise.
Update the inventory – As time passes, you may well be replacing or improving things such as a new washing machine or carpets. Record any changes to the property.
Don’t dither – Once a tenancy ends and the check-out report/inventory is received, deal with it quickly. If there are issues that need resolving, address them as soon as possible, as this often defuses the potential for problems to escalate.
See the big picture – Let’s say the tenant has been in your property for three years with no trouble, and the rent is paid on time, every time. Would it then really be worth falling out over minor sums? Of course, if any damage is significant, that needs dealing with, but if it doesn’t really matter in the grand scheme of things, you’ll save yourself a lot of hassle by letting go and moving on to the next tenancy.
And finally – Using a reputable letting agent is perhaps the simplest way to make your life easier. Employing an experienced letting agent to fully manage your property means it’s up to them to handle all the paperwork, including the deposit, and other important compliance matters.
Thanks for reading, and if you need any rental property advice, ask us – we’re local, friendly experts.