With an ageing population, the need to provide all kinds of facilities is paramount in today’s world. And the most important thing we need as consumers is a home. By 2023, Retiremove estimates that 1 in 4 people in the Uk will be aged over 65.

And this figure is only set to increase. So, investing in retirement property is worth considering if you are a potential landlord. It’s also worth investing in a retirement property if you are looking to downsize as you get older. In this essential guide, we look at things to consider.

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Your rental property is a long-term investment, so you must take care of it well. It’s a big mistake to leave this job to tenants, as it is not their job. Yes, it’s their job to keep the property clean. And you might have stipulated in the contract that they keep the garden maintained. But aside from that, it’s not their job, and you’ll be lucky to find a tenant that is either a capable or willing handyman.

But how do you take care of your rental property so that your little pot of gold doesn’t turn into a costly nightmare down the line? Here are our top tips to stay on track.

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Renting a home is a business like no other. It requires a massive investment, and who you sell to (i.e. your tenants) can make or break your business. You are essentially entrusting a significant part of your finances to another person, so a problem tenant can destroy your nest egg. Renting to a problem tenant can also cause you stress and even seriously affect your mental and physical health. You need to do everything you can to avoid this. But how, exactly?

Well, follow the steps in this guide to avoid being a suitable candidate to appear on the popular TV show, Nightmare tenants, slum landlords.

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So you’ve found a tenant to move into your property. Great! But there are still some things you need to do before you can hand over the keys and collect your monthly rent.

Making a checklist is easy and will make sure that everything is in order, so you can sit back and relax with what should be a mutually beneficial arrangement. Here’s a super easy checklist to tick through and cross off, as you go.

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