Kari Trajer, lettings manager at Hurford Salvi Carr in Clerkenwell, says that compiling the Sins was just a series of ideas that she “jotted down”, but the list gives a very clear indication of where the professionals think we are going wrong.
Sloth
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Slothful first impressions, according to Trajer, are a disaster for prospective tenants: they turn them right off. “Poorly decorated interiors, neglected exteriors and shabby communal areas” are the things we should all be watching out for. So don’t forget about redecorating, perhaps at the end of each tenancy agreement, and watch out for dirty windowsills and collapsing guttering outside.
Furthermore, even though communal areas may be the responsibility of the freeholder, they really do matter and, as a leaseholder, you have the right to badger your managing agent about them. Blown light bulbs in the hall are not particularly inviting, as are large posters warning residents about rats in the communal rubbish area. (I actually took one of these down prior to a tenant viewing. Well you would, wouldn’t you?)
Envy
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Not in regard to your lettings agent, although some do turn up driving rather chi-chi cars. This is about getting into the mindset of your tenant. You have to present them with a property that you could imagine their friends will envy. In particular, make sure kitchens and bathrooms are immaculate. “White tiles, fully equipped kitchens with the latest appliances, working showers and a spotless bath are a must,” advises Trajer. “An outdated decor or flouncy decorations are a lettings disaster.”
Lust
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Give them materials they will lust after. Or on which they can be lustful. “Floors are often overlooked by landlords but make a big impression on prospective tenants who crave the simplicity of good flooring,” says Trajer. “Scruffy floor coverings can let down a property.” So have a look at stripped wood and sexy modern laminates; and if you must have carpet, don’t forget to hire a carpet cleaner before viewings — tenants want to imagine themselves rolling around on the floor, apparently.
Gluttony
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“Every clued-up landlord understands that flexibility with furnishings is the key to attracting a long-term tenant,” warns Trajer. So don’t be penny-pinching about putting furniture in storage, or indeed buying more. As someone who has just spent six hours in an empty flat fruitlessly waiting for a bed to arrive from internet bed provider MattressMan, and then charging off to Bow in order to buy one (half an hour before the new tenants arrived), this is valid advice.
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Wrath
Don’t get cross with your tenants. Don’t get het up when something breaks. You are providing a property to be lived in, not preserved in amber. Inspect your house or flat at least twice a year, to show the tenant that you care about the state of the property they are renting. “Not only will this impress your tenant and encourage them to stay,” says Trajer, “but you’ll be able to identify minor damage before it turns into a huge job.” So, no sotto voce cursing when the tenant calls on a Sunday evening to tell you the boiler has burst.
Avarice
Do not covet the high rent that you hear someone else is asking for a flat like yours: find out what the proper going rate is in your area, and ask it. As Trajer points out, what you may think you need per month, and what the market is currently asking per month, may be two completely different figures. Too bad. “Your outgoings cannot control the market price of your property,” says Trajer. “Set your rent too high, and all you’ll do is drive tenants away into the hands of the opposition.”
Pride
Although the Bible has this as the most deadly of the Seven Deadly Sins, in Trajer’s reworking she actually has it as a Virtue. It’s good to take Pride in your property, she says. “At the end of each tenancy agreement, make sure you get the property professionally cleaned, inside and out. A tenant will immediately realise if it’s dirty and untidy.” (True, although you could do it yourself and save the £400 cost of the professional cleaner, whose bills sometimes fall into the Gluttony camp. In my view.) Why did she draw up this list? “I want to educate landlords and show them how to avoid the familiar pitfalls.” If you follow these seven pointers strictly, Trajer reckons you will manage to reduce voids, lengthen your tenancy agreements, and even increase rents, “perhaps in contrast to your neighbour”, she says.
But isn’t that going to encourage Avarice, Gluttony, Envy and hence Wrath? Maybe. But that will be someone else’s list of Sins, not yours.