You might have read some blogs, and you are itching to go as a landlord. As you’ll know by now, you need to be careful with your investment, know the law, have a network of tradesmen, find and build a rapport with trustworthy tenants and document your financial activities correctly. It’s no easy task.
If you are considering the pros and cons of buying your first buy to let property, here are 7 of our top tips for doing just that:
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.
Students are not exactly the pinnacle of society. Given at least three years off work after being released from mum and dad’s protective care, they are synonymous with heavy yet-to-be-controlled drinking and still need mum to clean their bedroom and pants.
So why the heck would you want to rent to these curious all grown-up now little darlings?
That’s the million-dollar question.
But hey, if you are aiming to build a million-dollar property portfolio – students always need somewhere to live. And student letting boasts some of the highest profits available when it comes to renting. So, let’s get into how students could be a great way to boost your portfolio and some top tips.
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.
It’s easy enough to assume that rent minus mortgage fees equals profit for you as a landlord. But there are far more expenses involved in renting property, and if you were to go on this simple equation, you’d soon find yourself out of business. In this short guide, we take a look at the expenses you will encounter being a landlord and how you can keep track.
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.
If you’re a landlord looking to increase margins, then you need to know about co-living. It’s a new market for the UK and savvy landlords are itching to get in on this cash cow rental sector. In this quick guide, you’ll find co-living explained for landlords in full. So dig in!
Just like anything in life, there’s the good and the bad. There are great aspects to being a landlord but there are downsides, too. Check out our pros and cons of being a landlord to decide if it’s for you.
Becoming a landlord is no small decision. It can give you monthly income and allow you to acquire properties that can be used for retirement funds and inheritance. Before you make this huge business, career, and financial decision read our quick guide on things you should know before you become a landlord.
With new tax changes in 2020 squeezing margins for landlords, it’s becoming more difficult to turn a profit each month. It’s important that rental entrepreneurs protect their bottom line. So here are 7 of the best tips to save money as a landlord.
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