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What’s the first rule of landlording?

This entry was posted on Wednesday, May 11th, 2022 by Nigel Fitzakerley

Always make money from property…I’ve been doing this year on year since 2007, when we’ve had a financial crash, austerity, a global pandemic and now out of control inflation.

Ultimately we all got into property because it’s easy to understand:

  1. You find a house
  2. Refurb it
  3. Get a good tenant to pay the mortgage
  4. Wait for house prices to increase
  5. Cash-out to enjoy the fruits of your hard work

Sounds easy right?  The single biggest thing people forget, to get the machine working properly and generating YOU money month after month.  Is the TENANT!

  • Good tenants pay your mortgage.
  • Sometimes good tenants improve your property.
  • Good tenants don’t cause you problems.

But how do you get good tenants?  Well, the obvious things you can do is to vet them by checking their rental history, CCJ’s etc. and making sure the property is affordable (that’s what we do as a letting agent, sorting out the wheat from the chaff).

But the single biggest thing which will get you a good tenant is a nice property!

This doesn’t cost a lot of money, often properties need a little bit of re-decoration and a touch up here and there.  My brother Chris, who does our refurbs, is passionate about property and he’s currently trialling “Elephant’s Breath’s” paint to get a better finish.

We do our standard NGU redecoration package with a feature wall – but what do you think is grey too harsh and cold?  Is a lighter beige better?

Let me know your thoughts…

I hope you found the video useful and remember it’s OUR JOB TO MAKE YOU MONEY!

For any sales, lettings or refurb help:

  • Contact us today by phone or email to move your property to us.
  • We’ll contact your letting agent to ensure a seamless tenant transfer, including the deposit, keys and all paperwork.
  • We’ll contact your tenant to resolve any rent, maintenance or refurbishment issues you have, arranging a property visit if required.
  • We’ll begin the process of maximising your income and wealth.
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