Posts Tagged renting property
How To Be A Friendly But Profitable Landlord
There is a common misunderstanding amongst ‘accidental landlords’ that to become a professional landlord all you need is property, but unfortunately this simply isn’t the case. If you are serious about making a supplementary income through renting property, it is important that you not only establish a healthy relationship with your tenants, but that your properties produce a positive cash flow too.
Below are a few useful tips I have found for protecting you and your tenants financially, and how best to deal with your tenants.
Tags: action steps, maintenance repairs, mortgage payments, passive income, positive cash flow, property investment, rental agreement, renting property, shorthold tenancy agreement, supplementary incomeRelated posts
Buy to Let Property Investment. Landlord Property Management Advice
Over the last 15 years there has been a dramatic rise in the number of people who choose to invest in property for the purpose of renting. Buy to Let sales have become much more common. It is believed renting has become very popular among tenants due to the flexibility and freedom it offers, without the commitment of buying a home. For many, purchasing and letting property has become a very profitable investment. They provide a steady, reliable income as well as a steady rise in value of their property. The income from renting property should be enough to cover the landlords mortgage payments and make a profit.
Initially it appears that property investment and rental is a flawless way to a steady income and security but property management can be a complex area with its own set of risks and pitfalls but with the right knowledge and approach it can be very rewarding. Letting agents are a good way to have your property professionally managed for a small cost. They will generally take 10%-15% of your monthly rent, plus a one off management fee and will take care of all aspects of managing your property from arranging marketing, web site advertisements and property signboards, supervised viewings, credit checks, tenancy agreements and inventories, collection of rent, property inspections, and possibly a 24 hour emergency contact.
Tags: ageing population, credit checks, divorce rates, job insecurity, mortgage payments, profitable investment, property renting, renting property, right knowledge, tenancy agreementsRelated posts