8 Aug

Landlords need to make considerations of the worst possibilities

Landlords need to make considerations of the worst possibilities

When it comes to entering the buy-to-let sector in the UK, new landlords should make sure that they take the worst possible scenarios under consideration, an expert has advised.

According to Stuart Law, chief executive of Assetz, there are many things which can go wrong between tenant and landlord, and said that these should not be ignored.

"They quickly learn and all day to day matters can be easily delegated to managing agents. It is the unexpected matters and how to deal with them that I find catches new landlords out," he said.

Some of the top problems which can exist between the two parties include such eventualities as; a tenant going on the run without paying rent, a management company allowing a building to get dirty and ill repaired, or any number of other challenges.

However, with LSL Property Services reporting that the cost of rent every month being £2 off peak prices, and yields sitting at eight per cent, Mr Law said that it is worth coming into the market and taking these risks for the rewards.ADNFCR-1222-ID-801424888-ADNFCR

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