Six Tips for Being a Successful Landlord and Winning at Buy to Let
I'm often asked what are the top things you must do if you are going to be successful as a landlord. Here are six that are key:
1. You must buy the right sort of property at the right time in the right location (and there should be lots of rental demand for any property you buy, both now and in the future)
2. You must do all you can to minimise vacant periods when the property isn’t let (and that can mean cutting the rent.)
3. You must take the utmost care to vet tenants to avoid having a bad one (and if you employ an agent to do this for you, you must make absolutely sure they have done tenant vetting properly.)
4. You must fix things promptly and cost effectively (the days of Rigsby are over for good)
5. You must be good at dealing with administration - in particular, you must keep account of all your income and costs and have a proper filing system.
6. You must know and keep up to date with the ever more complex legal requirements to being a landlord
David Lawrenson Back to www.lettingfocus.com
1. You must buy the right sort of property at the right time in the right location (and there should be lots of rental demand for any property you buy, both now and in the future)
2. You must do all you can to minimise vacant periods when the property isn’t let (and that can mean cutting the rent.)
3. You must take the utmost care to vet tenants to avoid having a bad one (and if you employ an agent to do this for you, you must make absolutely sure they have done tenant vetting properly.)
4. You must fix things promptly and cost effectively (the days of Rigsby are over for good)
5. You must be good at dealing with administration - in particular, you must keep account of all your income and costs and have a proper filing system.
6. You must know and keep up to date with the ever more complex legal requirements to being a landlord
David Lawrenson Back to www.lettingfocus.com
This entry was posted by lettingfocus, on
Thursday, January 04, 2007.
