Whatever your other New Year’s Resolutions, whether they are exercise, diet or finance related, one resolve you need to have is to be the best possible landlord you can be in 2016. Being a great landlord works in everyone’s favour as you will make more money, have better future investments and have happier tenants if you put your all into being a great landlord. 2015 was a good year in the buy-to-let and rental markets and 2016 looks set to continue that way so make sure you read on to discover our top ten tips for landlords in the coming year.

The best way to find and keep good tenants is to be a great landlord. Being a great landlord takes effort, time and money but it is worth it to give you a reputable business and help you maintain clientele that respect you and your property and ultimately make you money. Success as a landlord is possible but it takes a real commitment to your work, seeing your business as just that and asking for help when needed. Nick Fox property mentoring services are here to provide that help, after all no man is an island. Contact us for courses, information and guidance and read on in this blog to discover 8 keys to being a great landlord.

Protecting your property investment is a priority for any landlord which is why you initially need a good inventory and to keep a deposit from the tenant in a DPS in order to successfully assess ‘fair wear and tear’. Once you have these essentials in place you are in a position to consider ‘fair wear and tear’ on your property and furniture when you conduct an inspection and you have protection in place should anything be unduly damaged. Tenants are generally unwilling to admit to fault when it comes to damages but your inventory gives something to compare the condition at departure to. Should anything be damaged beyond fair wear and tear you can then withhold the re-payment of some/all of the deposit. The fine line occurs between the question of what is reasonable and expected wear and tear and what can be considered damage. The law is constantly refining and defining what fair wear and tear consists of but here are some guidelines when it comes to conducting inspections in your properties.

They say a picture speaks a thousand words and in the case of letting your property it is photographs that will capture prospective tenants and either put them off immediately or entice them to read the details on the property. If you have bad quality photographs or you don’t have any at all you can expect to struggle to get prospective interest in your property. The internet is most people’s first point of call when looking for a property and the pictures and price are the element of the advert that create a first impression so having both of those right ensures you get click through on your property.

The popularity of HMOs is on the rise, with the introduction of bedroom tax, cuts in benefits and the recovery from recession many more individuals are looking for cheaper housing. HMOs are generally targeted at those on a lower income, benefits or students and are generally not appealing to families or even couples. The potential yield on a HMO can be massive as long as you have bought wisely and manage your property well. Consider the top ten tips of Nick Fox, property mentor before you go ahead and make that purchase.

One of the biggest worries faced by any landlord is the concern that a tenant might default on a payment or pay late. Often landlords are relying on rent coming in on time to pay mortgages and other costs so receiving your dues is highly important. If a tenant fails to pay on time you may be forced to evict them which is a costly exercise and leaves you with an empty property to rent again. Follow these keys to ensure that your tenants pay in full and on time.Here are 8 keys to help:

If you are looking to invest and see a good return, then property is certainly the way to go with interest rates low and the stock market remaining particularly volatile.

The in’s, out’s and necessities of an inventory are up for discussion in our latest blog post…

So you are thinking about become an HMO landlord?!?In our last blog we talked about what an HMO is and some tips you need to get you started. You can read that post here. In this latest blog we will look at the steps you need to take to get started in the world of HMO lettings.Nick Fox has proved that HMO lettings is an area where you can see great success and hopefully these steps can help you do the same.Here are our 4 steps to get you started.

Here at Nick Fox Property we primarily focus on HMO properties. With over 500 individual units in and around Milton Keynes and the Home Counties our portfolio boasts a healthy £35 million worth of property.We know property success can happen through HMO property so here are some HMO tips to help you succeed in your HMO lettings.