Being a good landlord in London isn't easy. These simple tips can help prevent some of the most common problems faced by property owners in the capital.
Check your tenant's references thoroughly
It can be difficult to be a model landlord if your tenants turn out to be not quite what you expected. You want your tenants to take care of your property and pay their rent so it is vital that you check personal details and references properly. If a would-be tenant cites their employer as referee do check that the employer is a reliable company and not a relative or friend. It's always best to try to get a verifiable reference from a previous landlord.
Set up a standing order
If you don't want to be the type of landlord who finds themselves chasing their tenants for rent each month a standing order or direct debit can be a real help. Tenants pay directly from their bank account and you can make this part of the tenancy agreement to discourage default.
Listen to your tenants
If your tenant calls and says there is a leak or a faulty socket get someone to repair it right away. There is nothing worse than a landlord who doesn't stay on top of property maintenance.
Finally, you have entered a business agreement with your tenants. This doesn't mean that you are now their friend and can drop by any time. Your keys should be for emergencies only.