Landlords - Top 5 Tips on How to Maintain Cashflow Wed 11 Aug 2021

Landlords - Top 5 Tips on How to Maintain Cashflow

1 - TENANT CHANGE-OVER  - cash flow is compromised every day your property stays empty so try to prepar​​​​​​​​​​​​​​e for when tenants leave by​​​​​​​, for instance​​​​​​​​​​​​​​​​​​​​​,​​​​​​​ carrying out pre-letting checks and improvements as soon as you can​​​​​​​.

2 - LATE PAYMENTS - any delays must be addressed asap otherwise bigger issues could result - payment by direct debit on mutually agreed dates is​​​​​​​ normally best to reduce the risk of future interruption by landlord or tenant.

3 - MAINTENANCE - regular inspections by your agent or you, if self-managing, and addressing problems quickly will reduce future costs, protect your financial position as well as prevent more potentially expensive issues arising.

4 - MORE EFFICIENT FITTINGS – low-flow shower heads and toilets as well as low energy fittings and insulation can lower utility bills and improve relations irrespective of whether a landlord or tenant is responsible for the cost.

5 - INVENTORY - a diligent, timed, well-documented record of your property's interior and exterior condition will always help ensure any disputes are minimised and limit the impact on finances too​​​​​​​.

For help with any aspect of letting and management, ask Jeremy Leaf & Co who have been successfully renting all types of flats and houses in North London for over 35 years!

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