You've probably heard that owning a property that you can rent out is an amazing source of income. It's true, especially in today's real estate market.

In fact, the price of rent in the UK has been higher than ever before in 2020. This is great news for landlords everywhere, meaning you can have someone else pay your mortgage each month. And after a while, think of all the equity you'll have built up in your home.

But in order to have a successful experience renting your property, you need to be ready. That's why we've put together this blog post outlining the top 3 renting tips so you're ready to hand over the keys.



Keep reading to learn more.

1. Find Good Tenants

First and foremost, the most important thing you can do is find good tenants to rent your home. But this can be easier said than done, especially if you're new to the landlord world.

Here are some tips to help you find reliable, responsible renters.

First, make sure you ask for plenty of information in your application. The more you know, the more educated decision you can make. Ask about the following things when people apply:

• Their annual salary
• Their credit score
• Previous landlords and contact information
• Their employer
• Their social security number

In your application, also ask for permission to check their criminal history and credit report. Doing this will help you verify the information they give you with official government sources.



You can also contact their previous landlords to hear about how they were as renters. Another thing you can do is contact their employer to learn about their time as an employee.

2. Hire a Property Management Company

If handling the day-to-day tasks associated with renting your property, is overwhelming, we have good news. You don't have to do it.

Instead, you can hire a property management company. At Home-Path, we have years of experience helping landlords maximise their investments in the Birmingham area.

With a nominal monthly fee for services in Birmingham, you can be free of that landlord stress while knowing your properties are being taken care of. 

Most management companies also offer other renting tips and services. These can include periodic property inspections and repairing mechanical issues.



They may also offer advertising services to help you find new renters if necessary. They can also be a great resource when it comes to rental contracts.

3. Prepare Your Home

Last but not least, it's time to get your home ready for your renters. Start by getting rid of any valuables and checking for any needed repairs on the appliances.

You may also want to apply a fresh layer of paint to some areas of the home.

Another good idea? Check the air filters and replace them if needed.



Lastly, get the carpets cleaned and you'll be good to go.

Renting Tips: Final Ideas

There you have it: 3 of the most important renting tips when renting out your property. Now it's time to put these ideas into place.



Want to learn more? Interested in our services? Contact our team in Birmingham today.