‘Do It Yourself’ you’ve always heard this super motivational saying by your well-wishers but how often it seems realistic on ground level is indeed a serious concern. For an instance, if you have a home which you want to put on rent, the first thing you usually do is, find an agent. But that sometime, especially when you are low on budget can put you in a trouble.

So now it’s finally you who need to take all the pain alone. But don’t worry here we have some golden DIY tips for you to rent your house without an agent.

Searching for Tenants

First thing first, unless you don’t have good tenants, you can’t even think of renting out your property. And the most effective way to do is that by using online freelance agents. So talk to them and advertise your property over leading advertisement sites online. Because online agent’s fee is significantly lower than a high street agent. Letting through an online letting agent is quite straight forward. Just prepare a short description of your property and take some good photographs to get a good hand of the rental price you want to earn.

Now it’s time to start with tenancy

Once you managed to find a good tenant with your reference, then prepare an inventory which is not much mandatory but you should do it. You have to bear in mind that the inventory will form the basis of any claim you have for the deductions from deposit which needs to be gone thorough and must also comprise photographic evidence. Ask for this to your letting agent for this or you can do it yourself. Deposits must be lodged in a deposit protection scheme by adhering to the appropriate paperwork being provided to the tenant. If you wish to register the deposit yourself, talk to your online letting agent.

During your tenancy

Being a DIY landlord, you will no longer have to pay a monthly fee to your letting agent to manage your property and to represent the huge savings over the term of the tenancy. There are a few things you will require including- rent collection, usually by standing order, checking the property every 3 to 6 months, arranging any on-going or ad hoc repairs whenever required, ensuring that all the safety certificates are upto date…

Availability and time

It’s always a good idea to becoming a DIY landlord, but there is common requirement that is to be readily accessible all the time when it is required to deal with the situations when they arise. It can be tough and frustrating at the same time especially when you are working on going out for holidays. So in this case, DIY landlords have to keep someone as backup such as their friends or family member who could handle the situation at their place.

So if you are trying to be DIY landlord, do keep these things in mind.