Reduce risk with the Tenancy Lifecycle

Follow a relatively simple step by step Property Management process and greatly reduce the risk of problems arising during a tenancy.

Step 1 – Choosing the right tenant

Some landlords may opt to employ an agent to source a tenant, some may not. Whichever route you go for, be sure to carry out thorough references. If something doesn’t seem right or you have a ‘gut feeling’ about a prospective tenant, then avoid .

Step 2 – Pre-Tenancy

Start the tenancy off on the right foot. Completing a proper Pre-Tenancy check, to include the production of a detailed Inventory, will ensure the property is nicely presented, clean and in working order ready for when your new tenants move in. This will be key to making sure you get your property back in good condition.

Step 3 – Check-In

Once your tenants are in, be sure to meet them at the property as soon as possible to run through a Check-In. This will give you an opportunity to meet your tenant (if you haven’t already), but also demonstrate that you are a professional landlord who does things properly. This meeting gives you the chance to show the tenants how things work (e.g. heating), provide them with a copy of the Inventory and swap contact details.

Step 4 – Inspection

Regular inspections (every 4-6 months) are key to a smooth running tenancy. It allows you access to the property (with the tenant’s permission) to assess it’s condition, if there is any maintenance work required and to see how the tenants are keeping it. 

Step 5 – Check-Out

An important part of the process and often the most daunting. However, if steps 1 – 4 have been completed there is no reason why the Check-Out should be a challenge. Use this meeting to go through the Inventory and make a note of any damage, above wear and tear, and agree any deposit deductions. 

Professional approach

By making sure each step is completed properly you will demonstrate to your tenant that you are a serious landlord who does things correctly. Should the tenancy end in dispute, being able to provide a detailed Inventory, evidence of a Check-In, Inspections and a Check-out with photographs will greatly improve your chances of success.

You can find Ello’s easy to follow step by step guides and templates at https://elloproperty.co.uk/