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Eight easy ways for landlords to save money

In this 4 minute read we look at 8 easy ways for landlords to save money

Everyone likes to get value for money, even when it comes to your rental property! It's not about being a cheapskate but it is about getting the best value for money.

In no particular order the list below shows landlords eight ways to make money go further.

1. Before instructing your Estate Agent, check their full list of fees - not just the initial management rate. Check any additional charges as well so you are aware from the start. 2.This is a potentially huge one. Check your mortgage! Consider using a good mortgage broker - it could be that there are better mortgage offers available and the saving could potentially be hundreds if not thousands of pounds over the year.

3. Don't try to let the property for the absolute maximum possible. We know you want the most for your property, but every day the property is empty is a day's lost rent. Set the rent right and you will be more likely to have a number of interested people within days. Set it too high and you may have virtually no one interested in a whole month.

4. Where possible rent your property unfurnished. You won't necessarily get higher rents for a furnished property so why go to the expense of providing furniture? In our experience, there's very little for landlords to gain but a lot to lose when marketing and managing a furnished property.

5. If you are providing white goods always ensure you have a fridge freezer in place. Fridges with a small ice box area are unpopular with tenants and for a little extra you can get a lot more for your money.

6. If you have a garden, keep it simple. Elaborate outside areas require much more maintenance.

7. UPVC window frames, doors and fascias last longer than timber ones so represent a better investment if you have to replace these at any point.

8. Carpets. A lot of the cheaper carpets on the market look exactly that. Cheap. They feel bad underfoot, don't look good either and have a shorter life span than better quality carpets. Often by increasing your flooring budget by as little 20 % you'll add years to the length of time the carpet will last.

There's several more ways landlords can save money without cutting corners, but we think this is a good list to get you started.

If you have any property related questions or would like our honest, expert and friendly advice please don't hesitate to get in touch with us on 0207 275 8000 or email - we'd love to help you.

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