15 Sep

Buy-to-let property owners given advice on tenants

Buy-to-let property owners given advice on tenants

People with buy-to-let properties have been given advice on how to look after tenants.

According to the Association of Residential Letting Agents (ARLA), landlords should do their homework before thinking about taking on a tenant as there are some important rules to abide by.

Operations managing director at ARLA Ian Potter said: "Renting out a property can be full of pitfalls and potentially result in financial loss for the landlord. For example, if the right checks are not carried out, you may choose a risky tenant who defaults on paying the rent, leaving you unable to pay your mortgage."

However, he added that if landlords stick to the regulations, then purchasing a buy-to-let house can be a "shrewd move".

The organisation advised landlords to look into legislative requirements of the local area.

It also told them to avoid cutting corners, as good quality properties will attract a greater number of interested tenants and give a better rental income.

More people could be encouraged to look into letting out properties after the National Association of Estate Agents suggested that long-term trends for the market remain "broadly positive".ADNFCR-1222-ID-800066154-ADNFCR

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