Let your property your way

Let your property your way – Landlords top 3 tips

When all aspects of being a landlord are considered, owning a residential rental property can provide attractive returns. Your property for rent may be a bit of extra income on the side, or it could be your primary income. Either way, you will want to let your property as quickly as possible as soon as it becomes vacant to avoid incurring unnecessary costs and potentially making a loss.

By following some simple rules, you can ensure that your investment is protected.

1. Find the right letting agent for your needs.
Managing a rental property is a large task. By employing the services of an industry professional, you can alleviate some of the pressure, even if you only select to get help with tenant selection and rent collection. Do your research and choose a letting agent who best suits your needs.
2. Choose the right property management package.
Most letting agents offer a variety of property management solutions for landlords, from let only through to full management. You need to decide how much time you can dedicate to the property and what level of involvement you require. Are you willing to venture out at 5am to fix a burst pipe? If the answer’s no, then perhaps you should consider a full management package that takes care of everything for you.
3. Cover your assets.
As a landlord, chances are that you won’t be living in the property you are renting. It’s wise to check your insurance and make sure that you are covered for every eventuality. Of course, the bricks and mortar should be covered by your buildings insurance, but what about your furniture and belongings if you are letting a furnished property? Having the relevant contents insurance in place can provide you with complete peace of mind.

Ensuring that you have the right letting agent, the right property management package, and the right insurance cover for your requirements, can make all the difference when being a landlord. Make the most out of your investment property or portfolio by following this simple advice and the returns will soon be evident!