💰 Self-managed Landlords! TOP TIPS to keep your cash flow in shape 🏋️‍♀️

Before you buy

✅ Work out 'acceptable' gross yield by dividing annual rent by purchase price 🧮
✅ Example (see link below): £15,900 rent a year on a property bought for £225,000 gives a gross yield of 7.1% 📈
✅ Compare with leaving your £225k in a bank (around 1% interest!) 😱
✅ Gross yield guide:
5% = Acceptable 👍
6%-8% = Great 🥇
8%+ = WHOAAAA! ⭐
✅ Gross to net calculation - use 9 months rent instead of 12 🧙‍♂️
✅ Prepare 1 month void per year, 1 month maintenance and 1 month Letting fees 🤔
✅ Effectively, £1,325 rent = £11,925 approximate net income per year 💶
✅ NOTE: you can SIGNIFICANTLY increase your Return on Investment by using a BTL mortgage, for a real 25.1% example click here!! https://lnkd.in/eQervpw 📩

Rent Management

✅ Run your Tenancy 12 month fixed to expire August/September - these are the busies times for finding new Tenants and therefore you'll reduce void during Tenancy transfer 🚌
✅ Increase your rent - 10% is an acceptable level 💹
✅ Consider pets where the Head Lease allows (with relevant clauses in Agreement) - rent can be increase further! 🐶
✅ Only accept Standing Order payments and handle late payments immediately ⚡
✅ Use float balance throughout Tenancy - putting £50 aside each month soon adds up! 👍

Property Management

✅ Invest in making property more efficient - saving your Tenants money on utilities means they have better cash flow, which means rent on time 💡
✅ Maintenance is a lot easier on cash flow if you're preventing instead of waiting for things to go wrong - so pop round and actively look for potential issues 👀

Managing your outgoings

✅ Do not pay for dilapidations that are down to your Tenant! Keep a strict record from the start to ensure you have the evidence needed to go to adjudication if needed 📋📸📹
✅ Review mortgage deals, insurances and other expenses yearly 📊
✅ Move your Rent Due date a week before your mortgage goes out 📆

🙋‍♀️ Are you looking to buy an investment property? Do you have a current investment that's not performing as it should? 🆘

LATEST INVESTMENT OPPORTUNITY BY CAVENDISH RESIDENTIAL: https://cavendishproperty.co.uk/sales/property/238/one-fletcher-gate 🔍

Speak to our team today, when it comes to MAXIMISING your return it's what our EXPERT team does best! 🦹‍♀️🦸‍♂️

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Cavendish Residential Lettings Agency and Estate Agency in Nottingham