Being a Twickenham Landlord: First Steps to take

So, you live in Twickenham, and have space in your new house. Maybe you should consider letting out your property in the rugby capital of Britain? Just like the two different types of rugby, there's a few different ways you could go about it.Becoming a Landlord is a potentially lucrative business idea. Whether your tenants are staying in a room in your own house, a block of flats you own or a home you converted for the purpose, however you want to go about it, it could be a profitable venture. Here are some of the first steps you should take;Draw up a cost estimateNo matter how far along you are in the process, having a guess at the expenses and potential returns is a good plan. Think about how much it's going to cost to repair,decorate, furnish and advertise the property is smart, because it gives you an idea of how much work you're going to have to put in. Then afterwards, you can start factoring in the upkeep and other bills associated with the property, and then the amount of rent you could expect to bring in. Think about the risks before you start being dazzled by the rewards.Decorate and furnish in a neutral wayNow that you're happy with the plan, then you can start decorating.

Keep in mind that you're not one hundred percent sure what kind of tenant you'll be getting, so don't decorate and furnish your rental property to cater to a specific style. Keep things neutral for the time being, then you're less likely to put people off.Advertise your property properlyNow that everything else is ready, it's time to think about advertising. There's a few options available to you, the most basic being the sign outside your house or in your window. This is fine, but you really shouldn't stop there. You could also choose to utilise print advertising in say, the local newspaper or magazine, take a more digital approach by advertising on the internet, or even hire a private letting agent to take care of most of the legwork.Whichever way you want to go about it, if you're writing the ad yourself, make sure your words have a little flair, but don't get too flowery.

Details like the location, amount of rooms for rent, what facilities you have on offer, and the monthly charge should make up the backbone of your advert. Just treat it like you're selling your property, because you are, in a small way.See if the tenant's that apply are the right fitWith the offers coming in thick and fast, you may be excused for just accepting the first tenant and moving on. However, it may be in your best interest to do a small background check. Ask for a reference or three, it could be from past employers, or better yet a previous landlord. If you hear nothing but good news, then chances are they're a good fit. Remember, if they're a good sport at their place of work, and at their previous lodgings, they're hardly going to make an exception for you and make as much of a ruckus as possible. So, when they move in, you can call this the start of your new business venture. Don't be worried to lay down a few ground rules; as long as they're not unreasonable, your tenant has no reason to doubt. Hey, who knows, you might end up becoming fast friends. Just hope that you don't disagree about what kind of rugby is best.