A quarter of new, or single-property landlords, make no profit from letting property which demonstrates the devastating effect of failing to plan properly. Whether you’re just thinking about taking the plunge into Buy to Let or are recently new to the property world – getting your finances in order should be top of your priority list.
However, financial planning is just one aspect you need to get right and there are a number of other things to think about in order to run a successful lettings business. While you may get the basics right – for example by not overpaying for a property and by choosing an attractive location – there’s a lot more to being a landlord than meets the eye.
See also: Letting a Property
Get started as a landlord with the NLA
Starting out as a landlord can be an overwhelming experience; understanding everything that needs to be done and not knowing where to turn for advice. The NLA is the largest landlord association in the UK and are dedicated to helping landlords prosper.
See also: How to be a Good Landlord
If you’re in need of a helping hand then the NLA’s Getting Started as a Landlord advice hub offers a range of informative guidance and advice on the various different aspects of letting property, including:
- Considerations before you buy
- Making the right investment
- Careful financial planning
- Managing your tenancy
- Knowing your responsibilities and meeting your legal requirements
- Managing your cashflow and increasing your returns
- Growing your property business
Let your property business bloom
Remember, it’s never too late to re-examine your situation. Get on top of your investment with the NLA today and let your property business bloom. To find out more click here
See also: Should you Buy-to-Let?