If you know your portfolio is at peak performance – full of happy tenants with regularly serviced boilers – you’re going to ace this test in a matter of seconds.

On the other hand, if you know there are issues to be dealt with and improvements to be made, that’s ok. You’ll get no judgement from us if things have gone awry!

This list of questions will help you get clear about the current state of your investment properties, and the actions you can take to steer back on track.

1. Are you compliant with the law?

We probably don’t need to tell you this but we’re going to remind you anyway; there are a lot of ways you can get sued, as a landlord. If you’re not legally compliant, if you’re not sure whether you’re legally compliant, or if you don’t 100% trust that your managing agent, take action. Don’t wait.

Even if you’ve instructed an agent, as the owner of the property YOU are still legally responsible for it.

When you have a reliable property agent, you should be able to sleep easy, knowing that all paperwork is up-to-date, regular inspections are taking place, tenant enquiries are being dealt with in a timely manner, etc.

You shouldn’t have to take your agent’s word for this, by the way. Homesure’s managed landlords have 24/7 access to all information about their properties, via our online portal PropertyFile. If you don’t have the equivalent of this – if uncertainty about compliance is keeping you awake at night – you might be surprised to know how quick and easy it is to fix this.

2. Are your investment properties fully tenanted?

No? The video gives you a few pointers about marketing your properties. You might find it helpful.

If marketing isn’t the problem, see question five.

@homesureproperty ‼️Property investors and landlords – here’s a property management tip for you. If you’d like our help, get in touch: 0151 722 2222 \ homesureproperty.co.uk #landlordproblems #landlordlife #propertyinvestor #propertyinvestors #propertyinvestmentadvice #landlordtips #propertymanagement ♬ original sound – Homesure Property

3. Are your tenants happy?

This isn’t the same as asking ‘Do you have a good relationship with your tenants?’

Many successful property investors have very little relationship with their tenants. They outsource that to a trusted property manager and enjoy the benefits of a hands-off investment. They still pay attention. They know their tenants are happy because they see regular video inspections of their well-maintained properties, and because their tenants are staying put for longer than the industry average tenancy length.

Look after your tenants and they’ll look after your investment. Doesn’t mean you have to answer every call, and fix every leaking tap, just means you have to care enough to put an system in place that prioritises their needs.

4. Are you charging the right amount of rent?

The right amount of rent isn’t the same thing as ‘the highest rent you can get away with’. Sometimes charging a bit less than market value can help to increase tenancy lengths, and improve long-term ROI.

Equally, neglecting to increase rents incrementally can lead to problems. Maybe you inherited one or more properties, where the rents haven’t been increased for a long time. Perhaps you want to sell your portfolio soon. Both are issues that need to be addressed. This video explains why you need rental amounts to be set to the right level before you sell.

5. What’s the current state of your properties?

You don’t need top-of-the range fixtures and fittings, but your properties do need to be safe, habitable, comfortable and fully compliant.

The number one rule of property investment is ‘never lose site of the fact that you’re providing homes for real people’. We wrote a whole post about this, and it spells out what to prioritise when refurbishing an investment property.

If the level of work required on your properties feels daunting, get in touch. We can manage the whole process for you, bringing your properties up to standard and maximum profitability, or we can sell them for you, to our database of active investors.

6. How are you?

Relaxed, and looking forward to seeing the year out with friends and family? Or stressed, sick of it, and run ragged? If you selected option two, it doesn’t have to be that way!

Maybe you chose the life of a landlord because you enjoy customer service and DIY. If so, great (just make sure you have the paperwork and landlord legalities boxed off too).

If that’s not the life you want, appointing a letting agent, so you can sit back as a hands-off property investor, could be the best thing you ever do for your mental health!

Here’s Mark, with a succinct reminder of why we all got into this game in the first place.

@homesureproperty Property can be a hands-off investment. The key is to get really clear on the lifestyle you want, then put the building blocks in place. Maybe you want to do the refurb yourself but you don’t want to concern yourself with tenant referencing, landlord legislation etc etc. Perhaps you just want to put the money in then get on with what you’re good at and count the returns. Great! Absolutely achievable! 💸 Invest in the right properties, then hire a good property management agent and let them get on with what they’re good at. Book a free property investment consultation with us and we’ll help you put a strategy in place, then find the property, or properties, that will help you make your money work for you. Whether you live here or not, Liverpool is a great place to invest in property right now. Get in touch and ask is why homesureproperty.co.uk #propertyinvestor #landlordlife #landlordtips #liverpoolbusiness #liverpool #propertyinvestmentadvice ♬ original sound – Homesure Property

If you don’t want to wait for the new year to solve your portfolio problems, good news. You can hand the job over today! Click the banner, or email lettings@homesureproperty.co.uk, to find out more about our 5* fully managed service, and book a call with our team.