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New tips for successful landlords

Wednesday, 7 January 2009 12:00 AM

By Sarah Garrod

A new online company, Upad, has released a list of free helpful tips for landlords in 2009.

James Davis, CEO of upad, said:

"I set up upad following 12 years' experience of being a residential landlord. During this time, I identified the need for a service that took the hassle out of property rental for tenants and landlords. And, I saw that there was nothing on the market that exploited the benefits of the internet in order to quickly and easily 'match' renters with their ideal properties.

"Since its launch in October 2008, upad has gone from strength-to-strength, and continues to prove popular with landlords and renters alike.

"I believe that renting a home in the UK will no longer be taboo in 2009. The UK property market is heading towards the European model where it is commonplace for people to rent, as opposed to buy somewhere to live."

He advised landlords to:


  • Improve your property: There are a number of simple, low-cost measures landlords can take to improve their properties, to save both them and their tenants money.

    This could include: installing energy saving light bulbs, checking the thickness of loft insulation, fitting lagging to pipes and water tanks, draught proofing and turning down thermostats.

  • Maintain your property over the winter. Be prepared for burst pipes, boiler breakdowns, leaking roofs and make provision for these.
  • Buy to let mortgage rates are beginning to come down. Get a mortgage agreement in principle, up to six months prior to your current mortgage ending.
  • Maintain close contact with your tenant. This is likely to lead to greater sharing of information, and your tenant paying the rent in full and on time.
  • Be aware of the changes to household benefits payments. New changes were introduced in 2008. The Local Housing Allowance (LHA) applies to new claims for Housing Benefit (HB) for tenants renting accommodation from private landlords.
  • Carry out market research. Make sure you price your rental charges accurately and according to market rate.
  • Energy Performance Certificates (EPCs) became a legal requirement for all new lets in October 2008. Make sure you are on top of this, and don't be caught out by your tenant.
  • References. Make sure you request references for new tenants.
  • Locking in longer. Where possible, try to lock in good tenants to secure a longer tenancy period.
  • Emergency procedures. Provide your tenants with emergency telephone numbers, either for yourself or for a maintenance professional - this will save you, and them time and hassle.

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