Landlord Tips

When investing in a property to let, consider the following:

• Shop Around: Choose tried and trusted locations where the rental market is strong.
  
• Ask Around: Talk to someone you know who already has a residential investment. You could learn a lot from them.
  
• Buy in Good Nick: Don't buy a property that needs a lot of maintenance. Unless you are a seasoned operator at this game, you don't need the hassle.
  
• Smart Fitout: Fit out to a good standard but don't go over the top. The same rent will likely apply even if you go a little up market on the fitout.
  
• Choose Tenant Carefully: Decide before you advertise what type of tenant you want and hold out until you get what you want. Make sure there are references, and get a hefty deposit upfront.
  
• Get a Solicitor: Make sure there is a lease and your solicitor is happy with it.
  
• Know a handyman: Have someone in mind to call if there is a problem with the plumbing or electrics of the property.
  
• Don't pay too much: Compare the expected rent with the gross purchase price, and ask yourself, is the return worth it?