Whether you’ve been at this a while or you’re just getting started, there are a few things you’ll need to get your head around. Here’s what matters.
1. Know the Law (Or Get Burnt)
If you’re going to let property, you’ve got to play by the rules. That means staying on the right side of safety regulations, rental laws and fair treatment.
- Know your legal duties. Fire safety, electrics, deposit protection—it’s all your responsibility.
- No cutting corners. If you’re tempted to skip something because “it’ll probably be fine,” don’t.
- Be clear on what you can and can’t do when it comes to rent, maintenance, contracts and eviction.
It’s not about red tape. It’s about covering yourself when things don’t go to plan. If you manage communal areas or shared buildings, you’ll also want to understand your obligations around service charges and block management.
2. Don’t Be Casual About Tenants
A good tenant pays on time, keeps the place tidy and gives you a quiet life. A bad one does the opposite. The difference starts with how you screen them.
- Do background checks. Credit history, references, proof of employment.
- Ask questions. Not just what they earn but how they live.
- Trust your gut. If something feels off, it probably is.
Rushing this bit is a false economy. Spend the time now or spend it later chasing rent and fixing damage.
3. Nail the Agreement
Your tenancy agreement isn’t just a formality—it’s the blueprint for the entire arrangement.
- Spell out the rent, the dates and the deposit.
- Be clear on what’s allowed (pets, smoking, decorating).
- Include what happens if something breaks or if either of you wants out.
Sit down and go through it with the tenant. Saves arguments down the line.
4. Stay on Top of Maintenance
No one likes spending money on stuff that doesn’t look good in an Instagram post. But a boiler that works and a roof that doesn’t leak will do more for your rental income than fancy light fittings ever will.
- Keep an eye on things. Regular inspections stop small issues turning into expensive ones.
- Build a network. Have a go-to plumber, electrician and handyman on speed dial.
- Sort problems quickly. A broken lock or a damp patch won’t fix itself.
If you wouldn’t live with it, don’t expect your tenants to.
5. Keep the Numbers Tight
You don’t need to be a spreadsheet wizard, but you do need a handle on the finances.
- Track every bit of income and every penny you spend.
- Set something aside for the unexpected because it always comes.
- Store your records somewhere sensible in case the taxman asks questions.
If numbers make your head spin, get software. Or hire someone who loves numbers and let them get on with it.
6. When It’s Time to Say Goodbye
Not all tenancies last. Sometimes people move on. Sometimes they need a push. Either way, make sure you do it properly.
- Give proper notice. In writing, with dates and details. No casual texts.
- Keep a record of everything. Especially if there’s a dispute.
- Check the place over, take photos and settle deposits fairly.
If you’re managing leasehold flats or considering stepping back from direct involvement, it’s worth looking into your rights under the Right to Manage process.
No Time? No Problem
If all of this sounds like a lot, that’s because it is. Being a landlord can turn into a second job, especially if you’ve got more than one property or a full-time life outside of it.
That’s where we come in.
At Presence & Co., our Sales and Lettings team handle the day-to-day headaches. From finding decent tenants to chasing rent and keeping you legally covered, we’ve got it sorted.
If you’re still on the fence, here’s something to consider: Why professional property management might be worth it.
Drop us a message and we’ll show you what it’s like to let without the legwork.
