The three mostly costly mistakes landlords make:
1. Invest in inappropriate property. Buy-to-let landlords who buy a property purely on personal taste without considering what property or area would give them the best yield or what the real demand is. Watch this space for a piece of research I have been doing in this area. I will be revealing which properties and areas in Mid-Somerset give you the biggest bang for your buck.
2. Not thoroughly referencing tenants. Selecting the right tenant is not always easy for landlords. Sure you can check information the tenant has supplied such as their employer but what about the information they haven’t told you about such as how they have conducted themselves as tenants in the past? Jungle Property throroughly reference all tenants and we are particularly keen to find out the information the tenant hasn’t told us!
3. Managing arrears. Having a robust process for managing arrears is important. Do you have a robust process in place? If not get one!
Leave a Reply