Being a Landlord in Wellingborough, Irthlingborough & Rushden: the Risks and How to Avoid Them

Having a rental property can be a great way to earn some extra income. Like anything, there are a variety of things that can go wrong. We break down five of the most common ones.

The wrong property

Being a landlord means running a business. You’re not buying a property for you to live in. Tenants often have very different expectations when looking for a rental property. Don’t turn down a great opportunity because you wouldn’t like to live in it.

The wrong … Continue Reading…

Lessons for landlords in Wellingborough, Irthlingborough & Rushden from the wealthiest person in the world

A landlords’ advice article published recently said property investors need to think more like the Amazon founder Jeff Bezos.

The billionaire businessman is renowned for his long-term thinking. He thinks decades ahead, and let’s face it, he’s not doing too bad, is he?

The article said landlords should retain good tenants at a reasonable rate rather than aim to get the highest rents in the short term.

It’s wise advice and something we believe in.

When a landlord adopts a short-term view of their … Continue Reading…

Why Landlords Should Give Their Property Strategy a Spring Clean

Spring is traditionally a time for a good tidy up and clear out. If you’re a landlord, it’s also an excellent opportunity to give your property management strategy a once-over.

Taking the time to review what is and isn’t working with your investment will save you money and energy further down the track.

What you’re looking for in your property spring clean are pinch points: issues that cause aggravation and loss of income.

Sometimes, we need to step back and look at the … Continue Reading…

Why Letting Agents Are a Busy Landlord’s Best Friend

In part two of our series on property management, we look at how letting agents save landlords time – that precious commodity that is always in short supply.

A survey of 500 landlords found that using a letting agent saves a landlord on average six hours a month (source: Endsleigh Insurance).

We would go further and argue that letting agents don’t just save landlords time, but the right sort of time.

It’s one thing to get a call from your tenant saying a pipe … Continue Reading…

Seven Ways to Make a Tenant Feel at Home

In this three-minute read, we look at a new report that outlines how Wellingborough, Irthlingborough & Rushden landlords can build a long and prosperous partnership with their tenant.

What’s the secret to a successful tenant/landlord relationship? It’s a question that has vexed property gurus through the ages, but now the University of Stirling thinks it has the answer.

A new report from the university, Making a Home in the Private Rented Sector, says the key to a long and happy property partnership is to make … Continue Reading…

How to Advise Tenants Who Won’t Be Told about Mould

Let’s unpack what Wellingborough, Irthlingborough & Rushden landlords can learn from the findings of the memorably titled Mouldy Nation Report.

Firstly, before you ask, yes there really is a document called the Mouldy Nation Report (we’re not making it up).

Uswitch, an energy and finance comparison website, produced the report after surveying 2,000 people from across the UK about mould in their homes. It found that:

62% of people have an issue with mould in their home.

Of those with a mould problem, 64% were … Continue Reading…

How Landlords in Wellingborough, Irthlingborough & Rushden Can Beat the Blues

It’s the time of year when we fall into a post-Christmas slump because the weather is rubbish and money is tight.

And as a landlord living through lockdown, your relationship with your tenant may also be under strain.

Here at Richard James Lettings & Management, we can’t conjure up sunny skies or a lottery win, but we can help you improve your tenant situation.

We’ve come up with three ways to combat common issues which can make Blue Monday even more miserable for landlords.

Property … Continue Reading…

A Landlord’s Work is Never Done – Or Is It?

Picture this: It’s 4pm on Christmas Day, and you’ve just snuggled down on the sofa to watch a bit of telly. Your belly is full, and your lids are heavy after a Mistletoe Margarita or two (or three, but who’s counting?). Then your phone rings. It’s your tenant – and there’s a problem.

A pipe has burst in the flat that they rent from you and there is water everywhere. You need to get a plumber on it straight away, and … Continue Reading…

Five Ways to Raise Your Chances of Renting in Wellingborough, Irthlingborough & Rushden

One thing that seems almost Covid-19 proof is the desire for people in Wellingborough, Irthlingborough & Rushden to move home. The local rental property market has proven resilient this year, with people looking to rent new places to call home.

Below are five tips that’ll come in handy if you’re looking to rent.

Prepare Properly

Consider when you want to move and where you want to rent. Research the areas and the properties in your price range. Create a clear budget and include … Continue Reading…

A Guide to Expenses and Costs for Wellingborough, Irthlingborough & Rushden Landlords

To succeed as a landlord, you need to have a realistic idea about the costs you’ll encounter when letting out a property.

Many people think that being a landlord is child’s play; they assume that once the tenant has the keys, the only thing left to do is collect the rent each month.

But the truth is, letting a property comes with an array of grown-up financial and legal responsibilities. If you’re not on top of your obligations, you could lose money … Continue Reading…