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Tick’s Guide to Becoming a Landlord

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It’s no secret that there is money to be made in property. Many people aspire to own buy-to-lets, become landlords and build their property empires. But being a landlord is not an easy process; in fact it can be arduous, with little return on your investment.

The team at Tick Property Group has pulled together the following guide to provide you with some little-known information you need once you become a landlord:

Purchasing Landlord Insurance:

Whilst not a legal obligation, it is still wise to take out landlord insurance. When things go wrong, you don’t want to be left out of pocket to put them right. Be careful, though, as just like all other insurances there are always exclusions and excesses to pay which may still prove costly.

Finding a Maintenance Team:

Even the handiest of handy men need help with repairs. Unless you’re a contractor and fully fledged jack of all trades, you’ll need to find a good and reliable maintenance team to fix issues in your properties. And if you’ve ever tried to get work done in your own house, you’ll know how difficult this can be.

Always Be Available:

Whilst it would be great if issues arose at your convenience, we know that’s just not how life works. When you’re a landlord, you’ll need to be available to your tenants 24/7 to put issues right and to make sure the house you own remains habitable, else you could be liable for fines under Landlord Licensing rules*.

Be Prepared to Chase Rent:

Whilst we’d hope you find your dream tenants who pay on time every month, we know this just isn’t the case all the time. Missing rents can prove costly, as the rents could impact your ability to pay the mortgage on the property.

 

We’re not telling you all of this to put you off becoming a landlord, after all, property is our business. But did you know you can make your dream of being a landlord a reality, without actually having to worry about any of the above?

At Tick Property Group, we offer landlords the opportunity to make Guaranteed Rent agreements. In short, we will look after the property in full, including finding the right tenant, taking care of repairs and ongoing maintenance and rent collection, and you will receive a pre-agreed rental amount in full and on time each and every month, whether or not your property is tenanted.

If you’d like to learn more about Guaranteed Rent, then contact our award-winning team today and join the numerous happy landlords across the region who will never have to worry about their rental properties again. Read what our landlords have to say HERE

 

*Landlord Licensing Rules

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