Top Tips for First-Time Leicester Landlords

Leicester offers some outstanding opportunities for your first foray into letting property, and the experts at Keywest can offer second-to-none advice to help ensure you maximise the potential on offer.

Becoming a landlord can still be a scary prospect, however, but taking heed of the following advice – and enlisting the help of the friendly and knowledgeable Keywest team – can help to remove the fear factor and allow you to fully enjoy the opportunities that the Leicester lettings market has to offer.

Stick to Your Budget

Set a budget and stick to it. This will prevent any unnecessary financial stresses and strains and allow you to fully appreciate the excellent yields that Leicester has to offer. List all of your expected outgoings and update all your expenses along way. You can check out our landlord costs and expenses checklist for a head start.

Tap into the local knowledge of the Keywest lettings experts to help source the most profitable properties, and, if you want to, continue to reap the rewards of the lettings expertise on offer by allowing the professionals to offer continual help to enhance your rental experience.

Make Use of the Professionals

Making use of tenant-finding and management services, as well as enlisting the best possible help to find your rental property, can lead to a huge reduction in stress levels if you are a first-time landlord without the time, inclination or experience to carry out these tasks effectively or efficiently.

You may worry that enlisting this kind of professional help will eat into your rental profits unnecessarily, but this decision can actually yield huge rewards by allowing you to focus on your core business interests, for example, or helping you to source and retain high-quality long-term tenants who will look after your property as if it were their own.

Don’t Overstretch

Becoming a landlord can be massively exciting, but beware of overstretching yourself too soon, both financially and in terms of the time needed to look after your investments. Instead, start small enough to make management a breeze, and do not be afraid to ask for help if and when the need arises.

Do Your Research

Ask the experts and do your own research to ensure that your property investments match your expectations. Whilst most landlords have the ultimate objective of making money from their property, you also need to identify your specific needs and requirements and ensure that the choices you make ultimately fulfill your needs.

You may want a house that requires the minimum amount of work before it starts making you money, for example, or perhaps you want a property that will become your own home when the time is right.

Whatever your particular needs, the team at Keywest is here to help. Call us today at our office at Hinckley Road 01162 544 555, or Queens Road 01162 544 543.