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With sold property prices rising and supply falling, finding and keeping tenants can seem trivial after the potential difficulties of buying a rental property in the first place. Besides, rental homes are in high demand, with the number of potential tenants often outstripping the supply of available properties. However, while this may be broadly true, especially in big cities such as Edinburgh and Glasgow, it's not universally the case and is always subject to change. In other words, no landlord should rest on their laurels.

A. Finding tenants

Marketing

Even where tenant demand is high, good marketing is still an important tool in renting out a property. Done properly, it brings the property to the attention of suitable tenants, minimising the chance that viewings will be a waste of time.

Some private landlords undertake their own marketing, using the power of word of mouth or ads in newspapers, shop windows, community notice boards and online. This can be effective, but it's often time-consuming and offers no effective way of weeding out unsuitable applicants at an early stage.

The majority of Scottish landlords choose to market their property through a lettings agency. If it's an agency with a dual function as property solicitors, it might be the same agency that handled the property's purchase. While this may seem convenient, it's always worth checking the agency's expertise. After all, expertise at navigating the sales market doesn't always translate into expertise at lettings. Talk to the agent before committing. Ask what other properties they've let recently - and whether they also manage them. Also, ask whether they have a list of prospective tenants who might be interested in renting your property. Remember: your goal is to get the property occupied and thus generating rental payments as soon as possible.

Remember, too, that, under Scottish law, any advert must include your landlord registration number and your property's Energy Performance Certificate.

Presentation

Even if you're letting an unfurnished property, presentation matters; you want to attract tenants who will take good care of the place, and this is more likely to happen if you are showing a property that's in excellent condition in the first place. As a minimum, complete all necessary repairs and redecorate or freshen any tired décor before advertising the property.

Viewings

If you're a classic "time poor" landlord who's in a hurry to get the property let, you have two choices. The first - and best option - is to use a lettings agent to manage and run viewings. The second is to conduct a single viewing session yourself. While the second option has the attraction of hopefully getting the place let within the day, you may miss out on the best tenant. First, not every potentially suitable tenant will make it to your viewing session. Secondly, some tenants may be deterred by the open house format. Furthermore, open house viewings allow little opportunity to build a rapport with a prospective tenant, which is something that can be crucial when it comes to picking the right person.

Rental cost expectations

The current rent in Scotland averages Ł985 per month and, overall, average rents in the country are more than 14% higher than a year ago. Most tenants will be very well aware of this, and inevitably, some will have downscaled their expectations as a result. As a landlord, although you may have a mortgage to pay and need to generate an income, remaining sensitive to financial pressures on tenants is usually appreciated by those tenants. This might mean being very clear about when and in what circumstances the rent would rise. Of course, this wouldn't negate your right to conduct the background checks permitted by Scottish law. These include photo ID checks, proof of financial circumstances, credit checks, and taking up references.

Health and safety

As a landlord, you must meet legally mandated obligations regarding electrical, gas, fire and carbon monoxide safety standards. You must also ensure that the property meets the "Repairing Standard". Essentially, this means it must be wind and watertight but also with any repairs carried out to a "Tolerable Standard".

B. Keeping tenants

Sometimes, tenants move on for reasons the landlord can do nothing about. For example, maybe they need a bigger (or smaller) property. Or perhaps they're moving areas. However, if they're planning to move because they want to get a dog or their financial situation has changed, a landlord might decide that they can make the necessary adjustments in order to keep the tenant. And, of course, sometimes a tenant will decide to move for reasons that are very much within the landlord's control. This could include a poorly maintained property or, in a shared property, another tenant whose noise or hygiene habits are making life intolerable for others.

A good tenant who pays the rent on time takes good care of the property, and doesn't generate complaints from neighbours, is very valuable. As well as making a landlord's life easier in the short to medium term, this sort of tenant can also have a tangibly positive effect when the landlord finally sells the property. Well-cared-for homes usually sell quicker and fetch higher sold property prices, and sometimes, a tenant might end up purchasing the home they've been renting.

Other than keeping the rent as low as possible, a landlord can do two main things to try and keep hold of a great tenant.

1.      Keep interference to a minimum
Essentially, this means remembering that the property is the tenant's home and, as far as possible, allowing them to treat it as such. Spot inspections, unnecessary restrictions on decorating, pet-keeping and so on can all influence whether or not a tenant wants to renew their contract.

2.      Resolve, repair and replace
Ultimately, of course, a rental property belongs to the landlord. As such, it's the landlord's responsibility to resolve any issues with the property. Is the Wi-Fi sub-par? Are the occupants of the neighbouring tenement holding all-night parties? They must keep the property and its fixtures and fittings in a good state of repair and replace anything (integrated fridge, peeling laminate worktops etc.) that cannot be repaired.

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