One of the main difficulties faced by the landlord with a small portfolio is 'what to do if something goes wrong? Property problems can range from mould to overgrown hedges to having to replace a rusty bath with a whole variety of issues in between. And then of course there are the tenant issues.
Networking with other landlords in your area can prove surprisingly beneficial. Discussions can be wide ranging covering such tricky topics of where to find a new tenant to the pros and cons of the various letting agencies that offer their property management services to the unsuspecting newbie.
Another option would be to connect with a landlord association such as the NLA (National Landlords Association). Subscribing to their RSS feed is free and its a great way to keep up with all the latest news. In addition they not only do they offer membership to the NLA for a small fee (tax deductible), but they also run a (CPD based) accreditation scheme.
NLA say that:
"Accreditation is an excellent way for responsible landlords to improve their knowledge of the sector as well as verifiably promote your services as a good landlord to tenants."
To find out more about their accreditation scheme visit: NLA - For Landlords
BKD
Thought for Today
"Men keep their agreements when it is an advantage to both parties not to break them.” Plutarch
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