In this three-minute read, we look at the most common mistakes landlords make and share some simple, musical theatre-inspired tips, to help you protect your investment.
Hands up if you think this statement is true. Being a landlord is easy. You buy a property, find a tenant, and then sit back like Daddy Warbucks and count the cash as it rolls in!
If you raised your (jazz) hands, then we’ve got news for you. One of the most common mistakes new property investors make, is to assume that all landlords live on Easy Street.
The reality is that letting a property comes with a host of legal responsibilities. If you mess up and flout the law, you could face hefty penalties in the form of fines and/or time in prison.
So, if your sole focus is on Money, Money, Money, it might lead you to screech Mamma Mia because there’s more to being a successful landlord than meets the eye.
If, however, you recognise that making it up as you go along is not a successful lettings strategy, then the team here at Scottish Property Centre can help you realise the full potential of your property investment in Glasgow or Lanarkshire.
We’ve compiled a list of other common mistakes landlords make, which we’ve related to popular stage musicals to help you remember:
We hope the above tips give you a clearer idea of the potential pitfalls of being a landlord. But before we say So Long, Farewell, we want to stress that being a landlord can be financially rewarding, if you take a professional approach.
If you don’t think you have the time or skills to dedicate to managing a property, then we can help. We’ll handle the day-to-day graft and take the pressure off you.
At Scottish Property Centre, we’re lettings experts, and we can help you navigate the demands of being a landlord.
If that sounds like music to your ears, let’s talk.