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Creating a Checklist for your Properties

checklist As a landlord you need to be organised so that you can keep on top of maintaining your properties and make sure that your business is running as smoothly as possible. The problem is that if you have a large property portfolio you will find that something is constantly going wrong in at least one of your properties, and if you don’t make a note of it you could soon become confused as to what property needs what maintenance! So here is a way to create a checklist that will keep you up to date and informed: Continue reading

Building a Portfolio

Today we’re thinking about property investment and the possibility of building a property portfolio. If you’re already a landlord then this may not be too far from your mind either as it is a dream of many to finish the day job and become a full time property investor living off the profit from your property portfolio.
However, the reality of this happening is certainly difficult, but not impossible!


Of course with an everyday job you will have a steady income. Every month you will know how much money is coming in, and roughly how much is going out, which provides financial stability. If you decide that this is no longer for you, then you can be presented with a big challenge, a risky industry and financial difficulties, at least in the short term.

Generating Income

In terms of generating some profit, it is important to remember that you need to make an excess on your rental income above your mortgage repayments and costs. It is always important however to bear in mind the long term goals! A property portfolio is something you can hit the jackpot on in the long run rather than the short!

Further risks attached to property investment are credit risks. It’s important to have a decent amount of financial backing behind you along with strong credit ratings, however if you have been paying off your mortgage steadily then this is likely.

Reducing Costs

When building a property portfolio it is also important to bear in mind that the larger the portfolio gets, the cheaper certain things will become. For example, agency fees, property insurance, maintenance and management costs will all begin to reduce as your portfolio grows as the more work you offer to suppliers, the less they should charge. It is a similar idea to “buying in bulk”. This is something that a property investor can begin to take advantage of in order to make as many savings as possible!

Property investment can be tricky, but can ultimately lead to large profits in the long term. It’s always important to keep your eye on the goal, and make careful decisions every step of the way.

Optimism for Landlords in 2012

While I was browsing the property sphere I came across a very interesting article discussing landlord optimism in the New Year. It seems that studies have been carried out within the private rented sector in order to indicate that landlords are excited about the prospects for next year.

Landlord Survey

The research was carried out by the Royal Institute of Chartered Surveyors (RICS) and Paragon Mortgages and it certainly looks like landlords are expecting to bolster their property portfolios in the coming year. Even this year landlords have been improving their portfolio with the average number of properties per landlord rising to 13 properties in the three months to October 2011.

The survey has revealed that 22% of landlords anticipate adding properties to their portfolio in 2012 whilst just 8% of landlords said they would consider reducing their numbers. Furthermore, the research showed that 77% of landlords were feeling more positive about actually being a landlord, whilst 57% of those landlords thought that next year will be a great time for them.

Increased Supply Needed

John Heron is the Managing Director of Paragon Mortgages, and he has been explaining the following: “This is an interesting time for the private rented sector as landlords are experiencing very high levels of tenant demand as other areas of the housing market come under increasing strain.”

He added: “Looking at the year ahead, I am pleased to see that landlords are expecting to add to their portfolios as there is no sign that tenant demand is going to slow in 2012 and to ensure the private rented sector can withstand further demand, there needs to be increasing investment in private rented sector stock.”

Tenant demand is very strong indeed at the moment and so, as demand is so strong, the amount of supply needs to improve and grow. This could then result in higher numbers of landlords as more and more people try their hand at property investment. This will undoubtedly lead to an increasing amount of landlord insurance quotes being applied for, and to be honest, landlord insurance, when managing multiple properties, will be an absolute necessity!

It’s great that landlords are feeling positive for the New Year, hopefully many other industries within the UK will share this optimism as we move into 2012, and hopefully, just maybe, we can begin to move out of the economic recession. Here’s to 2012!