6 Mar

Landlords need to follow 'golden rules'

Landlords need to follow 'golden rules'

Those who have property to rent in London could find themselves with far better returns than people in other areas because of the impact of supply and demand.

It has been noted by David Lawrenson, private rented sector expert at LettingFocus.com, that it is important to make sure that landlords follow the golden rules of letting to help themselves maximise their returns.

He said that this includes making sure there is sufficient demand for a property in a certain area before buying.

"The key thing is choosing an area and choosing a type of property – particularly look out for any areas of oversupply. It is less of an issue now, but it was more of an issue in the past when there was an oversupply of new, identikit flats."

The expert also recommended doing thorough checks before approving a tenancy, to reduce the chance of people failing to pay their rent.

Recently, Platform reported that 20 per cent of people using it to let their property are now accidental landlords, only in the rental sector because they could not sell their house.ADNFCR-1222-ID-801311017-ADNFCR

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