Volatile times make everyone cautious. As landlords, the way forward for us is sensible risk management. Risk management is the key issue for private landlords in the UK.Malcolm Harrison of Let Insurance Services believes that rental insurance comes first when managing risk. Landlords need to take well thought out risks.
Landlords must gather good tenant references, although individual circumstances of the customers can change once the tenancy agreement has started. It is quite possible to get an amazing tenant for whom things can go awry during the period of the tenancy.
Earlier this month, LSL Property Services gave figures on the current trends found in the property market and the way rent rates are moving. It reported a 1.2 per cent rise in rent levels in the month of September which followed a 1.4 per cent increase in August in the UK. These figures are quite encouraging to an extent. But raising the rent is not what landlords are aiming for, by and large.
It has been found that not all are trying to dramatically increase rent levels in the coming future. There is no doubt that the biggest challenge that we face as landlords in the current climate is to minimize voids.
