Five Rental Myths That Haunt Landlords: A Halloween Special
This lettings piece looks at the most common renting myths – and how to dispel them.
In this Halloween Special, we look at five scary things landlords in London need to be mindful of to avoid nightmares.
1) The ghostly guarantee of quick tenants
Some letting agents will convince landlords that finding tenants is a quick and painless process. However, rushing it without proper checks and considerations can lead to choosing the wrong tenant. Patience and due diligence will save you from a frightening future filled with unexpected issues.
2) The curse of the bad tenant
Many landlords dread being trapped in a lease with a problematic tenant. This doesn’t have to become your reality. Thoroughly understand your rights and responsibilities and follow proper procedures. The best way to avoid this scary scenario is to work with a reputable letting agent who will guide you from the beginning.
3) Beware the zombie-like online valuations
Online valuations can resemble zombies devoid of reality and intelligence. They might provide a rough idea, but only a detailed, in-person professional valuation can capture your property’s unique aspects. Don’t let generic algorithms zombify your rental value.
4) Devilish dodgy DIY repairs
Thinking you can fix everything yourself might seem like the most intelligent move, but consider this: while some DIY repairs are possible, hiring professional tradespeople ensures high standards are met, keeping you and your tenants safe from the curse of poorly done fixes.
5) The phantom of the “perfect tenant”
Chasing the phantom of the “perfect tenant” can lead landlords down a path of never-ending nightmares. Rather than pursuing an elusive ideal, focus on realistic expectations, clear communication and a strong relationship with your tenant to foster a harmonious rental experience.
Don’t be spooked by rental myths and misconceptions.
A good letting agent who treats your rental investment like it’s their own can be the difference between having blissful peace of mind or having a feeling of dread whenever the phone rings.
Thanks for reading, and Happy Halloween.