Weโre all in this game to make money RIGHT? I know making money is a dirty word, especially when youโre a landlord but that...
Weโre all in this game to make money RIGHT?
I know making money is a dirty word, especially when youโre a landlord but that has to be your aim, surelyโฆ
Itโs an even dirtier word for letting agents, when was the last time you heard an agent talking about making landlords money?
Itโs our primary focus but whatโs the best way to do it?
Having been a landlord and agent for over 10 years, I always get asked whatโs the best way to make money from property. I always say buy a 3 bed-semi or detached near a nice school โ your aim should be to get hit with the usual maintenance when the tenant moves in but then to not hear from them for 15 years until they and their kids move out.
It isnโt as easy as that, within that time you need to understand that your tenant is also your customer and your aim is to provide a nice home for them.
By doing that youโll receive a steady income stream, watch your property value rise and also hopefully have a nest egg for your retirement.
Part of this process could include updating your property while the tenant is in situ โ Oh my god, you are joking โ you might say!
I know, I know, as a landlord spending money when you donโt have to is crazy right? Well if your nice tenant moves out, whoโs been there for 10 years because they want their kitchen updating (which youโd have to do if the property became vacant) โ surely thatโs crazier?
Itโs always a fine line to tread, spending money, but Iโd certainly think about spending money on good tenants, to keep them!
We recently did a kitchen refurb and I thought Iโd show you it โ to bombproof you from future problems but also more importantly to provide something nice to keep your tenants happy!
What do you think?
Remember itโs our job to keep your tenants happy to maximise your income โ ITโS OUR #1 job!
For any sales, lettings or refurb help:
- Contact us today by phone or email to move your property to us.
- Weโll contact your letting agent to ensure a seamless tenant transfer, including the deposit, keys and all paperwork.
- Weโll contact your tenant to resolve any rent, maintenance or refurbishment issues you have, arranging a property visit if required.
- Weโll begin the process of maximising your income and wealth.
Share this with
Email
Facebook
Messenger
Twitter
Pinterest
LinkedIn
Copy this link