Landlord tips

Helping you to make the most of your property investment and avoid the pitfalls of buy-to-let!

At Discount Landlord we talk to both professional and amateur landlords on a daily basis and we asked them to share their best buy-to-let advice with us.

Below are some of our favourite words of wisdom received so far:

“Make sure you have a list of tradesmen you can trust for all repair work! Even if your property is managed by an agent, it is helpful to have people you can rely on!” Hadassah Hartman 15/07/2017

“When it comes to tenants trust your gut feeling, even if someone passes referencing if you feel like something is off don’t rent to them! In the past my tenants have passed referencing yet left the property damaged, I wish I followed my gut feeling!” Angela Walker 03/08/2017

“Make sure the property you rent is in a condition that you would be happy to live in.” Thalia Cobb 22/08/2017

“Don’t save pennies on the kitchen and bathroom! If you put in a little bit more money they are likely to last longer and as they get more wear and tear it’s worth it.” Ansley Williams 13/09/2017

“Even if your property is managed by a letting agent make sure you attend the check out, in case of any issues you will be able to raise them there and then.” Kymani Giles 08/10/2017

“Make sure you double check all the paperwork that the agent creates for you, if they made a mistake on any paperwork it can cause you problems! Read everything twice before signing it.” Rohan Phillips 16/10/2017

“Make sure you chase the agent to put the deposit into a protection scheme! This ensures neither you nor your tenant are left out of pocket if the agent suddenly becomes bankrupt.” Liberty Burns 22/10/2017

“Location is vital! When purchasing a buy to let property make sure you scout the area, purchasing in areas which are popular will ensure you get higher returns!” Amaris Santiago 02/11/2017

“Always take photos when your tenants move in, it is so much easier to compare the state of the property with visuals. Walk around every room and make sure the date is displayed in the picture; this is vital evidence of the condition the property was let in.” Angie Conway 13/11/2017

“If you are renting out a family home, consider allowing your tenants to have pets. Although a risk of damage it attracts people who are looking for a nice lifestyle.” Heather Pruitt 20/11/2017

“Check out the transport links in your potential buying area and any future plans for developments such as Crossrail as you are likely to gain from the property in the future.” Blaune Vaughn 25/11/2017

“Make sure you get to know all the laws before you rent the property out as it is your responsibility.” Morgan Gould 03 / 02 / 2017

“Provide as little as possible! Most tenants expect a fridge, washing machine and an oven, but you do not have to provide things like a dishwasher or a tumble dryer, unless of course you want to. Electrical goods tend to break more often and quite easily, this means extra costs.” Joe Richards 12 / 02 / 2017

“Stay organised and write down dates like when your tenant’s contract is expiring or the Gas Safety Certificate. Don’t leave things until the last minute, as sometimes they might take longer to sort out than you think.” Isaac Lucas 22 / 03 / 2017

“Give your tenants contacts. If you have a trusted plumber, electrician or a handyman feel free to give their numbers to your tenants so they can organize repairs themselves if you are not available, just ensure they are aware if the fault is caused by them, they will have to pay. ” Amy Brown 14 / 04 / 2017

“If you’re worried about your tenants not paying rent ask for a guarantor. Normally someone who is in full time employment is good to fall back on and ideally credit check them.” Jasmine Quinn 30 / 04 / 2017

“Service your boiler, do it when you have your annual gas safety check, a cost of only £60-£75 it can save you a lot of money in the long run.” Kiera Dale 19 / 05 / 2017

“Do not set your rent too high; it is better to have your property rented out with a modest rent than it standing empty. ” Aimee Shah 27 / 05 / 2017

“Make sure you give your tenants the Gas Safety Certificate and Energy Performance Certificates at the start of the tenancy. ” Benjamin Shepherd 05 / 06 / 2017

“Make sure you have working fire alarms on every floor of the building as well as carbon monoxide detectors in every room which has a solid fuel source.” Tom Gallagher 06 / 06 / 2017

“Regularly check your property if possible, so you’re not left with a nasty surprise when your tenants move out!” Carol Bing 20 / 09 / 2016

“If your tenants need some work doing to the property, help them out as soon as you can – this will help keep a good relationship between you.” Marc Kearns 20 / 09 / 2016

“Schedule a time convenient with your tenants and assess if any work needs to be done to the property before the winter weather comes around so you can prevent any accidental damage.” Thomas Wilde 16 / 09 / 2016

““Never make the mistake of letting tenants in to your home without a formal tenancy agreement in place.” Fern Drake 15 / 09 / 2016

“Reference your tenants! It may seem unnecessary, but it can save you a lot of money in the long run, particularly if your tenants turn out to be rogue!” Sarah Garrett 12 / 09 / 2016

If you have any advice that you would like to share with your fellow landlords then please get in touch by using one of the following:

Email to discountlandlord

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