This week at City Rental Services we’re taking a closer look at a subject which is very close to our hearts, and one which we spend much time on when working with our buy-to-let landlords in Bristol: namely, the importance of good record-keeping.
Record-keeping is critical for each property, and we stress the need for excellent paperwork management to our letting-only landlords too.
If you’re a landlord in the city with more than one rented property, it’s worth considering these hints and tips from our experienced letting agents:
Full tenant details for each tenant in your properties, including Name, Date of birth, National insurance number, Passport number, Email address, Phone number, Next of Kin, Place of work, and previous address details.
Copy of the Tenancy Agreement for each tenant in every rented property.
Rental deposit Certificate for each tenant in every rented property.
Council Tax account number, which Band each property is, how much it costs each year, a note of tenant departure dates so you can cover Council Tax payments during tenant departure dates and any related information needed.
Water Rates per month or quarter, plus account numbers for each property.
Gas and Electricity details for each property, including account numbers – this can be the hardest information of all to keep track of, so try and find out which providers your tenants are using, have copies of any account details, keep copies of any bills, and ensure that you have contact numbers, account numbers, MPAN numbers and meter numbers all in one accessible place.
The more of this information you have as a property landlord, the better: it takes a long time on occasion to deal with utility providers, but the more information you have to hand, the easier this will be for you and your tenants.
Rents – remember to check your rental incomes monthly, and keep a close eye on the payments you receive, especially if you have more than one property, and more than one tenant in each rented property in Bristol.
Service Contracts – do you have any, any equipment in any rented properties under Guarantee of Warranty? For example, when was the boiler purchased?
Safety – keep your Gas Safety Certificates and dates of when this was completed, PAT tests, NICEIC Certificates, fire alarm Certificates, and what systems are in each rented property – plus, when they were last checked.
Having all of this information to hand will make your life easier as a property landlord in Bristol, as well as giving your tenants added confidence that you’re a property professional who ensures their full safety when renting from you.
If you’re looking for advice on rented property in Bristol, please call into 58 Gloucester Road to see us – as an independent letting agency in Bristol, we’re here to help.
