DL4B's Landlord Video Guide Pt 1: What makes a successful landlord
Direct Line for Business looks after nearly 200,000 landlords across the UK and as a result, the insurer’s director Jazz Gakhal has a unique view of what makes a successful landlord.
Jazz speaks to property expert Kate Faulkner and unveils her top tips to being a successful landlord:
- Make sure you treat your property [or properties] like a business – treat your rental income as revenue and always look to maximise this revenue and minimise costs.
- Put enough money aside to maintain your property - your tenants are more likely to stay put if your keeping it in good condition.
- Minimise risk. If you can, buy a property at a discount so you can create some profit on purchase. Make sure you work with experts in lettings, finance and tax who understand how to let a property legally and have the right insurance in place.