New research has shown that many UK landlords find managing their properties more stressful than their part or full time jobs. The research conducted by Property Let By Us revealed that late rental payments, repairs and dealing with tenant complaints cause the most stress and frustration. A quarter of landlords cited tax and inland revenue as major contributors to their anxiety, a third said that void periods caused them the most worry, while 23% of landlords blamed their stress on a partner with little understanding of the work and responsibility involved with being a buy to let landlord.
Many landlords work full time as well as managing other commitments. Managing a property can undoubtedly be a strain on time and resources, and with the increasing regulation and the responsibility that goes with it, many landlords and investors are facing new challenges. When it comes to tenancies that run smoothly there are a few steps that can be taken to ensure reliable tenants and a stress free life as a landlord.
It is always important to carry out thorough background checks. By selecting the right tenant, you can be sure of avoiding many of the issues that landlords end up facing further down the line. A background check should include reference gathering as well as reference checks from previous landlords to ensure that payments were paid regularly and on time and that the property was taken care of. It is equally important to authenticate identity and proof of the current address. An honest and reliable applicant will always be happy to produce their documentation and provide any information you request.
Another way is to enlist the help of a professional management team to do the work for you. We can provide full property or block management in Islington and all other areas of London, reducing the stress and frustration faced by landlords and handling all the important work on your behalf. Our team will handle tenant complaints, issues, inspections and repairs. We are the preferred choice for guaranteed rent schemes throughout London and our service is of the highest standard.