3 Top Tips For Landlords To Consider - Harcourts
Wed 29 Aug 2018
In our experience, which now spans across four decades, we have dealt with a large number of landlords in Southampton and the surrounding areas. This experience is invaluable to our clients because when you are looking to maximise the investment potential in your property, you need to enlist the services of an agent who not only gets the job done, but is professional from start to finish.
We recognise that there numerous blogs online for you to read through which will give you 101 top tips but we wanted to highlight our top three for you in our very own blog.
So, here are three top tips for landlords to consider in today’s marketplace:
Take The Emotion Out Of Your Investment
Emotions can run high and low amongst us all on a daily basis, we understand that because we are human beings too! But when it comes to your investment, you must consider this to be an investment transaction. If you are a property investor, you may come across ‘lovely’ properties that are in fantastic condition and located in really nice areas. Are these the best investment opportunities? This is the question to ask yourself….. or ask us!
Sometimes, these are not ideal and will not support a good rental return (naturally affecting your investment).
Over the years, we have advised investors to take the emotional hat off and put on the business one. We understand property investment. We know the local area. We re here to help you find the perfect investment and not one that just looks pretty.
Don’t Cheap Out When Preparing To Let
You spend hundreds of thousands of pounds on a property investment and will try to scrimp and save where you can when it comes to refurbishing the property. Our advice…… Yes it is great to save money – we all like to do that but you need to look at the long term game and not just for the foreseeable future. Spending time in getting the property looking just so will help you gain the interest and make the property more lettable but if you are not investing in the property, you may end up with higher maintenance bills in the future.
Your tenants will hopefully see the property as their home. If they are happy with how the property has been furnished, they are likely to keep it that way. Quality appliances, great décor are just two things that can make a difference. If it takes an extra couple of weeks to finish ready for let, this is time well spent.
Trust The Experts
When we said at the top of this blog about our experience, we were not bragging. We were simply pointing out that we have the experience and have let thousands of properties in this time.
Every day there is always something else for us to learn about the local property market. Regulations are changing all the time and we ensure that we stay on top of these for our clients because if we don’t, we do not have a business.
It is not about the number of lets and how quickly we can find people for our clients, its about the service we provide. Whether you have a large portfolio of properties or you are buying to let for the first time – the advice is still the same. The continuity of service we provide helps our landlords understand that we are also here for the long term.
In a recent study, we saw that 63% of our clients have been with us for 10 years or more. We are proud of this and everyday we are helping landlords (new and old) achieve their property investment goals.
Poor advice could cost you. Great advice will turn you into a successful landlord.