It is not just enough to own a rental –property. It is important that the cash keeps on flowing in. this means that you have to be a good landlord and there are various ways of doing this.
ALWAYS PUT SAFETY FIRST
As a landlord, you have a legal obligation to ensure your property meets safety standards. Gas and electrical equipment must be installed and checked annually by a registered engineer.
Make sure there are fire alarms and carbon monoxide alarms fitted. Check them regularly and replace batteries if necessary. And keep records.
DRAW UP A FAIR TENANCY AGREEMENT
Be clear on where the responsibilities lie for the upkeep of the property. FULL ARTICLE