Being a landlord is a business and every business in whichever sector needs contacts they can call upon on in an instant. Well here’s at least eight contacts you definitely need.
1. Letting Agent
I know what you’re thinking, letting agents and estate agents are dishonest good for nothing %$*@?….
Well to a degree you are right…but then again, this only accounts for a very small percentage of us in the industry. Trust me, there are letting agents who actually have passion for the business they do (*ahem* Nikki Homes) and care for your property the same way they care for their own. To a degree they make it personal only to protect your interest.
Having an agent like this is crucial. Here at Nikki Homes, not only do we take pride in what we do, we make it our highest priority to carefully vet and choose which tenant will reside in your precious investment.
Tenant selection is a crucial process and it’s important that comprehensive checks have been carried out. Having a reliable, trust worthy letting agent is therefore incredibly crucial to your business as a landlord.
Yes, you can head straight to Google and search for all the lettings and estate agents in the Stratford-upon-Avon area; we won’t stop you! But before you do, we want to tell you the best thing about working with us here at Nikki Homes. We aren’t just agents working on your behalf, we are landlords ourselves. This means that with our first-hand experience of the property industry our team are able to provide you with a unique service where you can talk to a landlady, not an agent!
2. The Insurance Company
You’d be shocked to find out how many landlords don’t even think about insurance because they see it as an unnecessary expense that ultimately eats into their bottom line.
If you’re one of them, quite frankly, you’re absolutely MAD!!!!
Have you ever thought that insurance policies are there to protect your bottom line profit instead of eating into it?
Well – if you haven’t thought about it like that, then think it and believe it!
It’s essential to have a policy that applies specifically to buy-to-let properties to cover a range of incidents, such as an injury to the tenant, damage to the property or any legal costs that might arise during repossession.
There are a tonne of insurance policies out there to choose from, so make sure you shop around.But let me help get you started.Find out more about landlord insurance here.
3. The Accountant
Remember, being a landlord is a business. And every business needs a reliable accountant to keep the books in order. Appointing a reliable accountant is also a very crucial element of you being a landlord when considering new laws regarding tax within the buy-to-let market; meaning things have just got a bit more complicated. Our advice: get a good accountant on your side to ensure you (a) are strategically protected from that famous tax man (b) have structured your business in ways that benefit you and your family.
4. The Solicitor
I bet your heart rate has just gone up a notch….
Well don’t worry. If you systemise your business well, you’ll only need a solicitor to help you expand your portfolio.
As a landlord, you need the ability to purchase those hidden gems quickly before other landlords or buyers beat you to the post. A solicitor who is quick and thorough at the same time is exactly what you need.
At Nikki Homes, we have our approved panel of conveyancers that we can recommend, all you have to do is give us a call and we will arrange a call back
Nikki Homes: 01789 532211
5. Handyman / Maintenance Contractors
For those of you that prefer not to use an agent to manage your property, having reputable trades people in your contacts list is priceless.
When your tenant emails, text or calls you with an issue, they want that issue sorted pronto. But it’s also in your best interest to get the issue sorted quickly since the longer you leave it an issue in a property, the bigger it can get.
We go by the saying;
Small Issue: small money
Big Issue: best win the lottery
6. An Estate Agent
Estate agents are popping up everywhere, almost on every corner or even hidden in a virtual office.
The amount of agents I’ve seen pop up and go in the last 10 years…quite frankly I’ve lost count…Their purpose is to sell and let properties. That’s it.
But what most estate agents fail to grasp is they are also there to advise with no strings attached.
To a landlord, investor or developer, having an adviser who fully understands the needs of you and your business is an asset not to be taken for granted.
Without these such advisers, staying up to date with changes in the local market and making future investments can become much harder.
Well this is why you’re on the Nikki Homes blog. This blog is here to offer you an insight into the Stratford-upon-Avon property market. As well as articles specific to the historic values of prices in Stratford-upon-Avon we will have a variety of content offering our opinions about the current state of the market, so you can stay up to date and make informed decisions.
And yes, if you haven’t guessed this already – We are also an estate agent & letting agent !
Feel free to get in touch with us anytime.
www.nikkihomes.co.uk
Office 1 | Long Marston Road | Welford-on-Avon | CV37 8RA
01789 532211
7. Mortgage Broker
Alongside your letting or estate agent and accountant being your best business confidants, you’ll need a mortgage broker to join your group.
Mortgages are by far the biggest financial risk anyone can take on. It’s therefore incredibly important to work with a good broker who both has access to the market and is able to source the best deal out there for you.
Remember there are different types of property investments so you need a product that suits you best.
Here at Nikki Homes, we work with a panel of trusted brokers who are always available to our clients.
8. A Property Manager
In all honesty, a property manager should fall into the same contact as your letting agent. Today nany letting agents will not only find you tenants, but also offer a complete property management service. A great management service is probably the most important aspect of your business since your crucial investment will require ongoing management. Management services typically include:
- Collecting rent from tenants
- Ensuring rent is paid on time
- Regular inspections of the property to ensure it’s being maintained well
- Tackling any issues, as they arise quickly, to avoid hefty cost to you
- Preventing your investment value from decreasing due to poor conditions
One major factor where values can drop is the condition in which the property is left and the costs to bring it up to scratch again.
At Nikki Homes in Stratford-upon-Avon, we understand the importance of this which is why our clients benefit from all the above working with us.
As mentioned at the beginning of this blog, our team are landlords themselves. Between us, we have years and years of first-hand experience within the industry which we are able to share with our clients.
So remember…
‘speak to a land lady, not an estate agent’
Thank you for reading our blog – we hope it has been beneficial to you and we wish you the best when entering the exciting world of property.
If you need assistance or simply want to chat about your property – get in touch with us:
