New landlords given tips for 2010

News Category: Industry News

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New landlords have been told they need to ensure they are working with a reliable letting agent if they want to ensure their tenants are trustworthy people.

The advice came as part of tips for new entrants to the buy-to-let market from London letting agency Ludlow Thompson.

"Ensure that you are letting your property to a reliable tenant by asking a reputable lettings agent to run a comprehensive reference and credit check before the lease is signed," the company advised.

Ludlow Thompson added that landlords should also ask their letting agent to put together a property inventory, as well as taking a damage deposit worth six weeks rent.

Other tips included ensuring that bills are not included in the rent due to increasing energy costs.

Last month, Fergus Wilson, who has a property portfolio worth around £180 million, told the Telegraph that it was better for landlords to buy new-build homes rather than flats, due to the greater return on investment offered by them.

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Story: http://omnis.adfero.co.uk/item.aspx?itemid=32590836
Context: http://www.telegraph.co.uk/property/investmentinproperty/6672288/10-tips-for-buy-to-let-success.html