Landlords advised to personally collect rent

Tuesday, May 4th 2010

Landlords could personally collect their rent from tenants in order to maintain a good relationship and make the most of their investment.

This is the advice of Alan Ward, chairman of the Residential Landlords Association, who recently spoke at the Avoid the Voids webinar.

He said buy-to-let owners should see their role as being professional, rather than taking up the position on an amateur basis.

Mr Ward stated: "It is not just about buying the property, getting the tenant in, sitting back and rolling in the money."

Being good with people on a personal level is an essential quality in the rental industry and part of this should involve landlords collecting their rent, rather than using standing orders.

Mr Ward's comments follow reports from the Land Registry of a drop in the average house price in England and Wales.

In March, it fell by 0.6 per cent to stand at £164,288 in March, the organisation revealed.

Mr Ward said he was confident there would be a growing demand in the rented market, which would lead to a larger buy-to-let sector.