Protecting your property investment

November 11, 2011

CIA Let Property Blog

If you are looking to maximise your income from your expanding portfolio or becoming a landlord for the very first time, you may want to look into the many ways you can protect your investment.

 Landlord insurance cover

There are a number of possible outcomes that landlord insurance can cover you for. Anything from burst pipes to mould on walls. You may have to serve an eviction notice to your tenants due to their behaviour or your property could be damaged by fire. Landlord insurance should be the very first thing you look into because any of these outcomes could cost you a lot of money

Be energy-efficient

There are plenty of products out there to make you an energy-efficient landlord, these cosmetic changes could make your property more appealing to potential buyers or tenants. You should always make sure that you have insulation installed around your property, things like solar panels and heat pumps make energy bills cheaper and also makes your property more attractive in the long run.

Keeping your property clean and fresh

In the case of looking for new tenants to rent your property it is the little things that go a long way. Making sure the carpet is clean (invest in a carpet cleaner), fresh and neutral paint on the walls and some garden maintenance can improve the look of a property but also keep costs minimal. If you are looking for buyers to sell your property to, more may need to be done to keep your property modern and fresh. Cosmetic changes in bathrooms and kitchen seem to be the most popular areas to focus on.

Choosing the right tenants

You must think about the kind of tenants you would like to rent out your property to. You must make sure you ask for referenced, run all of the credit checks that you need to and if you are still unsure or like to play it safe ask for a guarantor. Also make sure your tenants pay their rent on time and these steps will protect your property investment.

Source- hip-consultant.co.uk

Advertisements
, , , , , , ,

Subscribe

Subscribe to our RSS feed and social profiles to receive updates.

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: