Four Common Mistakes That Landlords MakeMay 11, 2018 2:47 pm
- Instructing substandard agents
Landlords often choose agents because they don’t have time to manage a property, and often they settle for the cheapest or first agent they find. Good diligent agents like LET it will be able to advise landlords on how to maximise returns and avoid unnecessary expenditure, so paying for a better service will result in better returns.
- “It’s only for rent”
Some landlords often cut corners in the decoration or maintenance of rental properties that they wouldn’t in their own property, because “it’s only for rental”. However, this can be short-sighted. LET it can offer advice and recommendations on improving a flat’s position in the market.
- Losing the human touch
When working with an agent, some landlords can become disconnected from their property, seeing it as an investment and collection of incoming and outgoing expenses rather than a home for their tenant. Less courteous landlords may face higher rates of dilapidation than those willing to compromise.
- Poor communication
While agents are there to manage properties on a day-to-day basis, they work on behalf of the property-owner, so the landlord should communicate regularly with their agent. Landlords should be easily contactable and ensure that their agent is delivering for them.
At LET it we can guide landlords through all the pitfalls of entering the Private Rented Sector and ensure that your investment is in safe hands, being looked after by a team with lots of experience and ability.