Tips for being a successful landlord

Tips for being a successful landlord

As with any market, there is plenty of competition when it comes to the buying and letting world. With thousands of landlords across the UK, you need to make your properties and services as a landlord stand out from the rest in order to be successful.  Landlords can often get a bad name, but if you run your lettings like a business, you will gain a great reputation and a fantastic financial return.

Let your properties with success

Being a landlord can be challenging if you have multiple tenants, from repairs and maintenance, to late payments and potential evictions, there is a wide variety of challenges you will need to learn how to overcome without it having a negative impact on your income. There are a few simple things to consider when becoming a landlord that can increase your success and overall reputation.

Screen out the bad tenants

When you become a landlord, it’s easy to listen to all the horror stories of ‘bad’ tenants destroying your property, giving late payments or no payments at all and expecting a lot of things for free. There are multiple ways you can be more wary of the legibility and trustworthiness of your tenants.

You can carry out full background checks to ensure their credit good and have no criminal convictions, or alternatively you can interview your tenants, this gives you a chance to meet the people who will be living in your property and you can decide if they are suitable tenants for you.

Set office hours

Some tenants think that because you’re their landlord, you’re on hand 24/7. Unless it’s an absolute emergency, you should set ‘office hours’ when you can be contacted, for example between 9am and 5pm, this enables you to have a normal lifestyle outside of work hours.

Insurance

Like you would insure your own home, you should have special landlords insurance in place protecting you for home emergencies and for your lettings business. A good policy will include property liability insurance to protect your tenants, fixtures and fittings.

Market on multiple platforms

Traditionally there was far less landlord competition and lettings were marketed in high street estate agencies, but the use of the internet has introduced the need for more diverse marketing platforms. By choosing Estates Direct to let your properties online, your properties will gain exposure on our own website and across a range of property portals including Zoopla, Rightmove, PrimeLocation and more.

Enquire about letting your property online

From as little £55 including VAT, EstatesDirect.com will market your property and inform you of any interest on your properties and take the hassle of negotiations off your hands to ensure you’re happy before any tenant agreement is signed. For more information on the lettings services we provide for landlords and to get your properties online, contact EstatesDirect.com on 08456 31 31 31 or alternatively get in touch online and let your property today!