Property investment is successful when everybody in the equation wins.
Short-term ‘success’ can mean long-term loss
If you, as a landlord, increase your rent to take as much from your tenant as possible, you may make more money in the short-term. Some would call that success. But if that rent is unaffordable to the tenant over time, they’ll move. They’ll have no choice, and that will leave you with a void. Over the long-term, you’ll end up losing money.
Property investment is a long-term game
Property appreciates over time, due to inflation. So, if you own a property and keep it well maintained, over a 15-20 year period, you’ll win. However, when you make a decision that compromises long-term profit, that’s a problem.
True success is a win for the landlord, a win for the tenant and a win for the community. If one of those loses, your investment loses.
Make sustainable success your goal
Provide a poor quality house, fall behind on maintenance, charge over the going rate and you won’t get (or you certainly won’t keep) desirable tenants.
When you cut corners, it has repercussions. Depending on what corners you cut, you could get legal action brought against you. Even if you don’t get sued, your tenants will lose out, and probably move out. If disruptive tenants move in, that’s a loss for the community.
You have to find a property management agent that cares about all aspects of the equation. Choose an independent agent with knowledge of, and interest in, the areas where your properties are.
The directors of Homesure personally own properties across Liverpool City Region and Cheshire, so we’ve got a vested interest in our communities. We also have policies and procedures in place to actively support landlords, tenants and the communities in which we operate. That’s the level of commitment you should demand from the team managing your investments. That’s how to win the property game.
Set your portfolio on the right track
If you’re about to invest in your first property, or you have problems with your current portfolio, Homesure Property can help you to achieve a successful, hands-off investment.
It’s never too early to begin your relationship with a reliable, independent letting agent, with solid local knowledge. If you haven’t bought a property yet, we’ll let you know what rent you can expect to get, to help you decide whether or not to make an offer. If you have completed, chances are we’ll have tenants waiting for properties in your area.
Existing landlords, don’t fear the admin of switching agents. You can switch property management to Homesure in one easy step. Simply give us authority to act on your behalf and we’ll do the rest, whether your properties are tenanted or not.
Get in touch today, at lettings@homesureproperty.co.uk.
