5 Top Tips For landlords

Some people worry about becoming a landlord and many will call upon stories they have heard about the “nightmare tenant”.  We have therefore set out a 5 point quick guide to minimising your risks and avoiding those pitfalls

1 – Spend time preparing your property to let and ensure you know, and meet, your responsibilities and the regulations / legislation governing residential lettings.

2 – Choose tenants carefully and insist on taking references 

3 – Ensure tenancy documents / inventories / schedules of condition are valid and well drafted as this is what you will rely upon if a dispute arises

4 – Always take a deposit and ensure it is correctly registered with one of the three government approved schemes 

5 – Manage tenancies proactively ensuring repairs are actioned swiftly and rents paid on time.  Do not let problems escalate. 

With the sales markets continuing to struggle many feel we will become a nation of “renters” for the foreseeable future so things look bright for many landlords.  It is however essential to ensure the correct procedures are followed to avoid those potential pitfalls.  If you would like to discuss any aspect of residential lettings and/or property management then feel free to contact us for a no obligation discussion.  See our contact page for full details.