Although being a private residential landlord can never be described as a straightforward profession there are certain factors that can make life a lot easier to cope with. Simple things like good, cheap landlord insurance and a good tenant can make a world of difference.
At a time when landlords in the UK are experiencing one of the best periods for many years, it might seem surprising how highly valued a good tenant should be. Surely with the demand out there for good accommodation, as soon as you lose one tenant then another is clamouring at the door.
A good landlord recognises a good tenant
This may well be the attitude of a bad landlord, but a good professional landlord knows exactly what difference a good tenant can be. First of all the landlords knows that his income is secure, the tenant that pays up on time and without any fuss puts a smile on any landlords face. Secondly, having a good tenant installed in your property means you don’t have to worry about how the home is being treated. Good tenants are a great boost in this respect, although each and every landlord should have residential property insurance the less claims made on the policy then the cheaper it becomes over time to purchase insurance. A good tenant will cause a minimum of damage to the property but also alert the landlord if work needs to be done to keep the place in good condition.
Of course the relationship works both ways. Once a good tenant is ensconced in the property a landlord can invest in good modern facilities knowing that he is increasing the value of the home and it is being looked after.
Seal a deal
For these reasons landlords should consider tying a good tenant to a long lease, it means he will not be losing money from void periods in the changeover of tenants, he does not have to worry about how his property is being treated and need not worry about rent collection. He must remember though the value of these things, and therefore be prepared to make it worthwhile for the tenant to stop. It is well worthwhile offering an attractive rent to secure a good tenant on a long lease