Ten tips for would-be landlords (clickable link)

If your house won’t sell, how easy is it to rent?

You need to move but do not want to put your home on the market: after all, there could scarcely be a worse time to sell. The obvious solution is to let your home. If you are about to join the influx of reluctant landlords with unrealistic expectations and no idea about tenants’ rights, follow this guide:

1 Study the local market
2 Talk to your lender
3 Do your sums ..
4 …and try to be realistic
5 Head must rule the heart
6 Think about your tenants
7 Spend some money on it
8 Follow the rules
9 Pick tenants with care…
10 … or pay a lettings agent

From
July 25, 2008
Always vet and get references for tenants.
Don’t let tenants pay rent late.
Don’t use agents (unless they can get a higher rent).
Expect to be inconvenienced.
Don’t get personal about the property, it’s a business.
Don’t forget what you’re doing it all for, eventually you’ll own the place.


Leave a Reply