According to our recent survey nearly 70% of landlords agree that the benefits of being a landlord outweigh the time and hassle involved in the process. However 20% of landlords say their biggest concern over the next 12 months are poor tenants and damages. We’ve put together some top tips to get you on your way.
60% of landlords are employed full time as well as being a landlord, meaning it can sometimes be a challenge to manage a property alongside full time work. According to the survey, 78% of landlords said they use a letting agent because it makes their lives easier, whilst nearly 50% said they feel more protected using a letting agent.
20% of landlords have had to claim on their insurance for accidental damage and 20% of landlords’ biggest concern over the next 12 months are poor tenant and damages. You can find out more about the types of landlords insurance you may want to consider here.
Nearly 30% of tenants agree that they are often unaware or unclear of what their responsibility is, whilst nearly 40% of landlords are unclear of this. Check out our handy guide here and let them know their responsibilities before they move in.
13% of landlords have been called out at an unsociable hour for something that could have been resolved during the day. From being called out to turn on the boiler and flip the trip switch, make sure you show your tenants how to use the boiler, where the trip switch is and any alarms the property may have on move in day.
According to the survey, nearly 90% of landlords have gone out of their way to do something nice for their tenants, with 83% of tenants stating they are happy with their current landlord and feel like they make an effort for them. Nearly 20% of landlords have bought their tenants a present, whilst others stated the key to a happy tenant-landlord relationship was open communication, dealing with issues promptly and being fair and consistent.
85% of landlords think that the recent “Right to Rent” regulation will change how they act as a landlord. With 18% of those landlords saying it will make them more cautious about future tenants. Choosing the right tenants is one of the best ways to safeguard your income.
Read our disclaimer.
Our ‘Exhibition of Oops’ highlights just a handful of the many unexpected moments that occur as a landlord. From loft conversions to stolen cars, we’ve heard it all…
We look through the challenges and worries facing landlords in 2016 and how to avoid any unexpected costs.
We take a look at the ways in which landlords have gone above and beyond to do something nice for their tenants and what they think is the best way to keep a happy tenant-landlord relationship.
As a landlord, it is essential to know about your Tenancy Deposit Protection (TDP) obligations.
From 1st February 2016 landlords will be responsible for checking their prospective tenant’s right to rent. Find out more here.
How do the changes in Stamp Duty affect landlords and property investors? Here is a brief outline on what you need to know about Stamp Duty.