Advice for Landlords

Everyday for the next 8 days I'm going to be posting the best tips for landlords!

1. Protocols and Policies
The first rule you should learn is regarding protocols and policies of managing buy to let properties in the UK. Residential apartment building has established rules which the tenants have to follow. Any kind of failure to follow the rules might result in consequences. It is your job as the landlord or property investor is to make sure that the occupant follows the protocols and policies.

To prevent miscommunications and possible issues with tenants, property managers must have protocols and standards in place. The guidelines for tenants should be written down and issued at the time of signing the AST or Assured shorthold tenancy agreement between you and your tenant. Similarly, landlords must have procedures in place for a variety of circumstances. If a tenant ignores the parking rules, the property manager must obey the process, which could include issuing a notice or having the car towed.

Create a simple and effective process for dealing with a range of property problems, such as maintenance demands and rental disputes. If an appliance fails or a tenant wants to file a lawsuit with the administration, they need to know what to do. If you employ a letting agency to manage the tenancy, they will do that for you for a fixed monthly cost, generally between 8-10% of the monthly rental amount .

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