Landlords urged to consider buy-to-let strategy

Landlords have been advised to invest some time and effort into deciding upon their best strategy when it comes to buying to let.

Speaking at the Landlord and Buy-to-Let Show in Birmingham, Designs on Property said that those entering the market should also make sure that they have the correct insurance in place in case tenants get into rent arrears.

Kate Faulkner, managing director of Designs on Property, said: "Tenants might be made unemployed and they might want to pay the rent but they might not be able to."

She also added that landlords should also aim to "reduce risk" wherever possible and be "clever" about managing their property.

Anyone who is entering the buy-to-let market and feeling the pinch because of the credit crunch could find that drawing up their own tenancy agreement could help to save them money.

  • Landlord and Tenancy News from Lawpack: Keep a legal note of your tenant's rent arrears with Lawpack's Schedule of Rent Arrears

Published on: December 5, 2008

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