5 Tips for Novice Landlords!

property management torontoBecoming a landlord isn’t as easy as it seems. As we have seen so many novice buy-to-let investors making common mistakes with their portfolios, we have produced this simple five-point to becoming a landlord for the first time.

  1. Location and researching the area is the first and most important thing you can do before purchasing a buy-to-let property.
  2. Do your homework on suitable mortgage products. It is important to shop around as the lenders have become increasingly interested in this section of the market, causing fees to rise.
  3. Make sure you are properly insured. All landlord insurance should cover third party liability, ensuring any damage caused to the property by the tenants is covered. 
  4. There are two options open to you when it comes to managing your buy-to-let property: pay a management company to do it for you, or do it yourself. Talk to us.
  5. Finally, you need to choose the right tenants. Finding the right tenants is all about matching the tenant to the property.