12 Aug

Landlords told to take on top tips

Landlords told to take on top tips

The National Landlords Association (NLA) has issued a series of tips which it believes will help buy to let landlords not only survive the credit crunch but enjoy more success.

Among the measures landlords have been advised to undertake are saving up a fund to pay for sudden expenses such as urgent repairs, advertising for new tenants before old ones leave in order to avoid long void periods, establishing good relationships with tenants involving good and regular communication and pricing below the market rate in order to remain competitive.

NLA chairman David Salusbury commented that "prudent" landlords may enjoy "rich pickings" in the current period, adding: "By following the NLA top tips, landlords could increase their chances of getting the most from their properties at a time when the wider economic outlook is not looking so good."

The advice to price rents below market levels may also help landlords avoid the problem of tenants struggling to meet payments, a phenomenon that insurance firm Axa has said is increasing as inflation rises.
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