Landlords told to take on top tips
The National Landlords Association (NLA) has issued a series of
tips which it believes will help buy to let landlords not only
survive the credit crunch but enjoy more success.
Among the measures landlords have been advised to undertake are
saving up a fund to pay for sudden expenses such as urgent repairs,
advertising for new tenants before old ones leave in order to avoid
long void periods, establishing good relationships with tenants
involving good and regular communication and pricing below the
market rate in order to remain competitive.
NLA chairman David Salusbury commented that "prudent" landlords may
enjoy "rich pickings" in the current period, adding: "By following
the NLA top tips, landlords could increase their chances of getting
the most from their properties at a time when the wider economic
outlook is not looking so good."
The advice to price rents below market levels may also help
landlords avoid the problem of tenants struggling to meet payments,
a phenomenon that insurance firm Axa has said is increasing as