18/11/2022
Top property tips for new/er landlords;
1. Compliance! Make sure you know you’re compliant. There’s a lot to know, but start with; Gas Safe certification, EICR (for electrical), EPC (energy rating), HMO (House in multiple occupation) license if required, legionnaires assessment, fire risk assessment… there is more!
2. In a declining market, your relationship with local estate agents is even more important. Make sure they know who you are, and what you’re looking for. If you are a cash buyer and willing to take on a tired or even unmortgageable property, they should have you at the front of their mind!
3. Know the value before you offer. Sites like Zoopla offer house price data, and tools like Landworth help you calculate prices per sq m in a given location. https://pro.landworth.org/map
4. Refurbishment time! Discounts are available to landlords, as we’re considered part of the trade. Membership to LNPG is a great place to start. You can also sign up for trade accounts with the like of Howdens, Wickes, B&Q. www.lnpg.co.uk
5. Marketing your product. Make sure your photos ‘pop’. Professional photographers are worth considering, and you can hopefully reuse those pics for years to come. If talking the photos yourself, make sure the lighting shows off the property at it’s best.
6. Advertising. We generally use a service called OpenRent. For £49, you get your property listed on Rightmove, Zoopla, Gumtree, as well as services like enquiry management, tenancy creation and signing, deposit registration, first months rent collection. Plus you get to meet your potential tenants on the viewings and understand what they like about your property, or how you could improve it. https://www.openrent.co.uk/?affiliate=3377847
Let us know if you have any questions or feedback.
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