While rental horror stories are relatively rare, when they do occur they can be devastating… which is why the fifth episode of the Buy to Let Show shows landlords how to deal with the most common problems.
Non-payment of rent, malicious damage and sub-letting cannot always be prevented, but there are steps landlords can take to minimise the risks, and these are outlined in the show.
The Buy to Let show was devised by Kate Faulkner, who runs Propertychecklists.co.uk, with the support of Direct Line for Business. It is aimed at both new and existing landlords and features six 25-minute episodes packed with expert advice, case studies and tips from industry experts.
In this penultimate episode, Dealing with Tenancy Problems, Kate is joined by Christina Dimitrov, of Direct Line for Business, Paul Shamplina, of Landlord Action and Steve Harriott, of Tenancy Deposit Scheme.
They are all in agreement that doing your homework and getting things right at the start of the tenancy through thorough referencing is key to preventing problems later on.
Also during the show, Rachel Hudson a landlord and Director of Inventory Genius, explains some of the problems she has encountered in her 20 years as a landlord, and how she prefers to leave the complex matter of serving notices tKate Faulkner said: “Buy to let doesn’t always go according to plan but many problems can be prevented. Due diligence at the beginning of the tenancy is an absolute must, as is specialist landlord insurance to cover you if unforeseen problems do occur. And, as always, seek advice from the experts before you start, as this could save you a lot of heartache down the line. “
Dealing with Tenancy Problems is the fifth show in the series, with previous episodes considering the viability of buy to let as an investment, finance and insurance, choosing a property and the health and safety aspects. The final episode will cover another important topic: How to Plan an Exit from Buy to Let.
Each show is accompanied by a useful eBook, which is free to download and includes vital checklists, calculators and advice as well as details of how to get in touch with experts who can provide further help.o the experts.
To speak to one of the team ay Belvoir Liverpool Central then please call 0151 231 1613 or liverpoolcentral@belvoir.co.uk
