Five Mistakes Landlords Make When Letting Their Property (and How to Avoid Them)

Letting property can be profitable – or problematic. Here are five common mistakes landlords make, and how to avoid them.

1. Underestimating Legal Changes

AST legislation is evolving rapidly. Failing to stay up to date with Section 21, EPC rules, and licensing laws can lead to fines and legal issues.

Tip: Follow trusted landlord news sources and work with advisors who are on top of changes.

2. Choosing Rent-to-Rent Without Understanding the Risks

Rent-to-rent can be appealing but often leads to issues with compliance, mortgage lenders, and insurance. If the rent-to-rent company disappears, you're left exposed.

Tip: Only lease directly to regulated, government-funded providers with clear contracts.

3. Not Vetting Tenants Thoroughly

Poor tenant referencing is a major source of stress. Missed rent, property damage, and legal disputes often start here.

Tip: If you want to avoid this altogether, consider guaranteed rent options where a regulated, Government funded provider handles everything.

4. Overlooking Maintenance Responsibilities

Reactive maintenance can be costly and time-consuming.

Tip: Lease to a provider who covers all maintenance as part of the agreement.

5. Going It Alone

DIY landlords often face avoidable problems due to lack of support, resources, or experience.

Tip: Work with a specialist like Providence Wealth to simplify the process and protect your income.

Interested in guaranteed rent with no management hassle? Talk to Providence Wealth for an insight into Guaranteed Government rent, the benefits it can offer you and whether your rental property may be suitable.