Saving money with Landlord Law
If you don’t live near your rented property:
It is generally considered inadvisable to self manage property if you are not based nearby. For example, even professional landlords will often use a letting agent for investment properties they own in different towns or counties.
If you live at a distance you should try to use a decent agent if possible.
However, it may still be possible to self manage if:
- You have someone reliable living close by – maybe a friend, relative or neighbour, who can visit the property if required and generally keep an eye on it
- You are able to take time out to visit the property yourself regularly (say once every three to six months) and
- If you know and trust the tenants
Having good tenants is key. We have guidance to help you do this, or you may want to consider using a letting agency on a ‘find tenant’ only basis.
However be very careful about renting to tenants who seem anxious for you to leave them alone – particularly if they want to pay the whole years rent in advance. This is often a sign of criminal tenants who are planning on converting your property to a cannabis farm.