How Landlord's Can Save Money!...

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16th December 2011

How Landlord's Can Save Money!...

Whether you are an experienced landlord or an accidental landlord, you'll know that especially in today's economy, it is easy to overlook minor issues. There are many ways landlords can save money to avoid an investment turning into a large outgoing expense. Martin & Co Nottingham have a few tried and true techniques to ensure you have tenants in your house and money in your pocket:-

● Performing regular maintenance on your property can catch a small problem before it turns into a large outlay. If you fail to plan, you are planning to fail, we recommend to reserve 5% of your rental income in order to keep maintenance cost to a minimum.

● Be good to your tenants by making sure repairs are done on time and quickly. When you know your tenants are paying rent on time and are treating your property with tenant like manner, they are unlikely to trash the place when you uphold your end of the bargain. This will save you money when you need to bring the property back to a lettable standard for your future tenants.

● Work out your taxable rental profit, you can do this by subtracting any allowable expenses incurred wholly and exclusively as a result of renting out your property and then deduct any allowances you are entitled too, this can include maintenance repairs, service charges and utilities.

● Comply with the law, this will keep YOU protected and keep your tenants safe. Is it really worth being fined up to £20,000 or imprisonment for failing to produce a gas safety certificate?... don't take short cuts when it comes to safety.

Try the stress-free experience... let us manage your property TODAY. For more advice and ways of saving money, contact the Martin & Co Nottingham office on 01158533230 or email SAVE to nottingham@martinco.com.

Posted By Esha Bajwa