Paul Georgian Owner

The Buy2Let Shop Limited

The Buy2Let Shop Limited is a property investment company based in London UK and deals with investors at novice/beginner level or advanced property investors. We offer professional services to vendors looking to sell their home to investors looking to build their portfolio.
The Buy2Let Shop Limited South Tower, 26 Elmfield Road Bromley BR1 1WA
020 3837 3300
3 November 2016
3 November 2016,
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In our property investment seminars, we often discuss the role of landlords, and how to manage tenants successfully. Investing in buy-to-let property for sale can be highly lucrative, but only if approached in the right way.

In this guide, we’ll briefly outline some useful landlord tips, and how to generate a great ROI, whilst maintaining a good relationship with your tenants.

Property Seminar Tips: Being a Successful Landlord

  • Screen your tenants carefully. Finding a good tenant is perhaps the most important aspect of renting out accommodation. However, landlords frequently gloss over this vital stage – which can lead to problems further down the line.

 

Treat your property investment like a business and vet tenants carefully. By law (Right to Rent), you’re required to check whether they can legally live in the UK. But this isn’t enough. You should also obtain references from previous landlords wherever possible, and find out if they’ve been evicted in the past. Check that they’ve got a steady source of income too – as chasing late rent payments can be a real headache.

 

  • Be fair… but firm. Being a landlord doesn’t mean you can’t show your human side. Indeed, it’s important to build a good working relationship with your tenant, especially if you’d like to them to stay for the long-term.

However, this doesn’t mean that you should bend over backwards to accommodate them. Your contract should have rules in place – and it’s your tenant’s responsibility to adhere to them.

  • Get organised. As with any business, you’ll accrue paperwork as you go along. You’ll need to keep certain documents, and you’ll also need to store your tenant’s deposit in a government approved scheme. Before you commit to being a landlord, find out exactly what needs to be done in terms of organisation and paperwork, and prepare yourself accordingly.

 

  • Do your research. There is a wealth of material online to help you. Read industry-related blogs. Buy relevant publications so you can stay on top of any important developments. Attend property investment seminars to boost your knowledge of the industry. Anything you can do to provide you with insight and understanding is going to be helpful.

Finding the Right Buy-to-Let Property for Sale

One of the most fundamental things to get right is the property. Choose the right house or apartment, and you’ll have plenty of great tenants to select from. Invest in a property that’s not in the right area, or which doesn’t have much appeal to renters, and you may find it harder to make a profit.

When looking at buy-to-let property for sale, consider the following:

  • Local amenities. What’s in the surrounding area? Is it likely to appeal to your target demographic?
  • Transport links. Is there a train or bus station nearby?
  • Local schools. Is the property in the catchment area of a good school?
  • Parking availability. Has the property got a driveway? If not, is there plenty of parking nearby?

The Buy2Let Shop

If you’d like more advice about becoming a landlord, get in touch with The Buy2Let Shop. We hold regular property investment seminars in London, designed to further your knowledge of the property market, and provide the lowdown on what it’s really like to be a landlord.

We also have a wide range of property investment opportunities on our books, and offer help with buying a house at auction. To find out more, visit The Buy2Let Shop website today.

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