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Free Property Advice - Buy To Let Risks

There are a number of risks associated with being the landlord of a property, many of which can be prevented by making adequate checks when considering a new tenant.

Some of the potential risks:

Repairs and maintenance - Typically, an obligation to repair will be included in a tenancy agreement, but this only extends to maintaining the property to the standard it was at the beginning of the letting period. Repairs are different from improvements . You should be able to avoid liability where the disrepair can be shown to have occurred because the occupant failed to behave in a "tenant-like manner"

Damage to your property - It is a fact of life that accidents do happen and you can expect some degree of damage to your property whilst it is let out. Make provisions for this by ensuring you have a deposit (usually a full month's rent). Also consider this when decorating - cream carpets and sofas attract stains. And laminate flooring is very popular but make sure any furniture brought into the house has the adequate protection on its underside. In fact, if you are putting down laminate, why not leave sufficient protectors in a draw somewhere for you tenant.

Tenant stops paying rent - In some unfortunate scenarios, the tenant may stop paying rent, either because they cannot afford to pay or because they are refusing to pay.