Top Tips for First-Time Landlords

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  • Top Tips for First-Time Landlords

Becoming a landlord can be a great way to generate income and build wealth. However, it’s important to be prepared for the challenges that come with owning and managing rental property. Here are some top tips for first-time landlords:

Do your research.

Before you invest in a rental property, it’s important to do your research and understand the local rental market. This includes researching comparable properties, rental rates, and tenant demographics. You should also be aware of any local laws or regulations that may affect your property or your tenants. At Harringtons we offer free buy to let advice, why not click here to your free 30 minute consultation today!

Get your property ready to let.

Before you put your property on the market, it’s important to make sure it’s in good condition and up to code. This may include making repairs, painting, and updating appliances. You should also make sure your property is clean and inviting to potential tenants.

Charge competitive rent.

It’s important to charge a competitive rent for your property. If you charge too much, you may have trouble finding tenants. If you charge too little, you may not make enough money to cover your costs. Do your research to determine a fair market rent for your property. We have a new lettings manager here at Harringtons Lettings, Beth Roberts who would love to have the opportunity to come and value your property. Call her today on 01273 724000.

Be prepared for repairs and maintenance.

As a landlord, you will be responsible for repairs and maintenance to your property. This can include things like fixing leaky faucets, replacing broken appliances, and making repairs to the roof or siding. Be sure to budget for repairs and maintenance so you’re not caught off guard.

Keep accurate records.

It’s important to keep accurate records of all your income and expenses related to your rental property. This will help you come tax time and make sure you’re not missing out on any deductions.

Get insurance.

As a landlord, you should have insurance to protect your property and your tenants. This includes property insurance, liability insurance, and rental income insurance.

Our sister company iInsure 365 specialise in Landlords building insurance, contact them today on 01273 827090 or enquiries@iinsure365.co.uk to get a quote.

Be prepared for the unexpected.

Even the most experienced landlords can run into unexpected problems from time to time. Be prepared for the unexpected by having an emergency fund and being flexible in your expectations.

By following these tips, you can increase your chances of success as a first-time landlord. Remember, being a successful landlord takes time, effort, and patience. But if you’re willing to put in the work, it can be a rewarding experience.

Being a Landlord in Brighton and Hove

What you need to know

  • The rental market is competitive. Brighton and Hove is a popular place to live, so you can expect to have a lot of competition when you’re looking for tenants. It’s important to make sure your property is in good condition and that you’re offering a competitive rental price.
  • There are a lot of regulations for landlords. You’ll need to make sure you’re compliant with all of the relevant laws and regulations before you start renting out your property. These include things like gas safety certificates and electrical safety certificates.
  • Being a landlord can be a lot of work. You’ll need to be prepared to deal with maintenance issues, tenant complaints, and other problems that may arise. It’s a good idea to have a good support network in place, such as a letting agent or a property manager. Contact us today for a review of your properties 01273 724000.
  • The rewards can be great. Being a landlord can be a great way to earn a passive income. If you manage your property well, you can be a valuable asset to your tenants and to the community.

Being a landlord in Brighton and Hove can be a challenging but rewarding experience. By following these tips, you can increase your chances of success and become a valuable asset to the community.

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google-review Review
Tegan
Tegan
17:30 22 Feb 24
Have been very accommodating and helpful when calling agents. They have been very helpful in being able to secure a house for students.
TheFlyingCrocodile
TheFlyingCrocodile
16:42 21 Feb 24
Went above and beyond to get things sorted for me
Brittany Stace
Brittany Stace
11:18 24 Jan 24
Harringtons have been incredibly helpful and supportive of us as new renters and they have been super efficient in getting all of the documents sent through and signed in such a short period of time. Thank you!
Georgie Prebble
Georgie Prebble
20:36 05 Jan 24
Jade Innes
Jade Innes
10:24 04 Jan 24
So far the service has been good. The staff are very friendly and quick to respond to any questions and requests.
Polly Smith
Polly Smith
11:17 28 Dec 23
we chose this letting agents as they chose a good bills company that is much cheaper than other agents. When viewing houses the staff were very friendly and have been very helpful in answering our questions and making the process as easy as possible.
Emma Howe
Emma Howe
16:06 14 Nov 23
I would rate Harringtons Lettings a 5/5. Very lovely on the phone and very quick and easy to communicate with via email. Any problems have been resolved in no time at all. So far so good!I found Harringtons via Rightmove.
Akwisitions Feedback
Akwisitions Feedback
16:25 30 Oct 23
Very responsive and super helpful throughout the process. Highly recommended!
Chloe Ballard
Chloe Ballard
17:28 02 Oct 23
Although I have only been renting with Harringtons for a short period of time, I have had nothing but a positive experience. From viewing to admin updates. The admin team especially are very polite and quick to respond and I have no doubt that the rest of my tenancy will run smoothly. I would recommend to anyone considering renting in brighton.
Matthew Ball
Matthew Ball
11:46 19 Sep 23
Professional communication with tenant although entirely impersonal. There was a bigger disconnect in their communication with the landlord in most cases, which seemed to be either slow or non-existent (discovered after contacting the landlord directly).Property was full of spider webs on day 1 despite apparently being professionally cleaned. Took a day off of work to clean it on move out day, leaving it cleaner than when it received but still had to pay part of the deposit for professional cleaning.It has been a while since I have rented, but I'll avoid letting agencies completely now if this is anything close to the average renting experience.
Ronan SK
Ronan SK
12:38 12 Sep 23
Great professionalism/communciation from the start up until the end of my tenancy. Definitely set the standards for what agencies should be like. Highly recommend to those within Brighton.
Daniel Sutton
Daniel Sutton
10:29 24 Aug 23
I have rented with Harringtons Lettings before and have always found the agents to be quick, efficient, friendly and helpful. I loved their service so much I have chosen to rent with Harringtons again. Faultless 😊
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