'General Tips and Advice'

1. DO set aside money for the unexpected – such as a void period in rent or a boiler breaking down.
2. DO keep an open mind about what and where to buy. Talk to as many experienced landlords as you can and learn from their mistakes and successes.
3. DO think carefully before buying a property with maintenance issues. Money you save buying it may be lost by it being empty while you’re renovating or improving the property.
4. DON’T indulge your own taste in the design and style of the interior or exterior of the property as this will restrict its appeal. Keep it neutral.
5. DO be cautious about buying properties off-plan. You need to stick to a specific time frame in order to maximise your return, and developers may not guarantee a finish date.
6. DO beware of companies offering cheap conveyancing. If a few pounds saved on conveyancing means a slow service, you may lose the property.
7. DON’T skimp by finishing your buy-to-let property with second-hand furnishings, fixtures and fittings. If they don’t meet health and safety regulations, you could find yourself in trouble.
8. DO be aware of the specialist insurance you need. Standard domestic insurance policies do not cover many of the eventualities that landlords face.
9. DO think carefully before leaving the management of your property to relatives or friends. Buy-to-let properties need experienced management to maintain tenant occupancy and maximise returns.
10. DON’T abuse the relationship you have with your tenants. Give plenty of notice before you visit and make sure maintenance problems are addressed quickly. Tenants are an essential part of your business plan and the relationship needs to be managed in a professional way.
NOTE:
The information contained within The Landlord Starter KIT (c), unless otherwise indicated, relates to tenancies granted by non-resident landlords, commencing after 15/01/89. The legal position is different for those, which began before this date, or if landlord and tenant live in the same property, or if a high level of services is provided by the landlord e.g. cooked meals, cleaning etc. in these cases, you should seek separate legal advice for confirmation of the rights of the landlord and tenant.
Please note: this section is a simplified guide to the relevant law.
Only the courts can give an authoritative interpretation. If you are in any doubt about your rights or obligations, or are considering taking legal action, you will be advised to consult with a solicitor.

1 Comment

  1. james turley

    Hi, my son is being taken to crown court by his former tennant who is claiming he illegally terminated her tenancy. She has been granted legal aid and we understand that she has been assigned a barrister.
    Her claims are incorrect my son has a police statement where she states that she wants to move out of the property and terminate her tenancy.she but it looks as though he will have to employ a barrister to put his case when the court sits.
    Can you advise me of the following. If he wins the case. Will he be able to claim back his expenses that he incures whilst defending himself.
    Thanks J P Turley

    Reply

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