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You will eventually feel the need to leave your rental property. It may be because you find a better job elsewhere, or because your family is expanding or contracting and you need more or less room. It may be because you are purchasing a home and no longer wish to rent. It could be for any number of reasons, but relocating often means stress, regardless of the reason.

For many individuals, moving out of a rental property is just as traumatic as moving out of one they own, but this does not have to be the case. There are a few things you can do to make the process go as smoothly as possible.

Paperwork

You will need to file a lot of paperwork when you move out of your rental property, whether you are moving into another rented home or purchasing a property. There will be a plethora of paperwork and essential papers to read, sign, date, and initial. Leaving this to the last minute can add stress to the process and could possibly cause your relocation to be postponed.

The greatest thing you can do with this paperwork is to do it as quickly as possible. Take a copy for your personal records after it’s finished. This will be helpful for remembering everything you have and haven’t done about the move, as well as in case anything goes lost – a copy is better than nothing in many circumstances.

Maintain a cool demeanour and go methodically through the papers. Rushing will not help you, and you could make errors that will slow things up even more.

Organise Your Property

There are a few things you need to do if you want to make sure you have your deposit returned to you. One of them will almost certainly be an end-of-tenancy clean. This is much more than a fast run around with the vacuum cleaner and a quick wipe down of dusty surfaces; this is a thorough clean that will take many, many hours to accomplish.

Most individuals lack the patience, time, and expertise needed to do this job on their own. The good news is that you may engage cleaning firms who specialise in end-of-lease cleaning to perform the work for you. This is not essential, however.

Make Use of Proper Timing

When it comes to moving out of a rental property, timing is everything. If you pay your rent in advance, you’ll want to make sure you don’t overpay or underpay based on the date or location of your move. The best thing you can do is move out on a date that is the day before your next rent payment is due. You won’t have to pay any extra rent on your existing home as a result.

This also means that your first rent payment for your new home (or your first mortgage payment) will be due on the same day as your previous payment, allowing you to stick to your budget and avoid being out of money.

Moving house can be a truly stressful time – it’s said to be up there with divorce and bereavement when it comes to how it makes us feel. Luckily, there is always that sense of excitement and adventure with moving house; it does tend to have a happy ending. That said, the process never gets easier. 

So finding great ways to ensure that moving house is as stress-free as possible – great ways such as packing hacks – is essential if you want to feel calm and collected on the big day itself. Property may be one of the best investments you can make, so you will want to feel good about buying – and selling – your property. Packing is often the major cause of panic; having some excellent packings hacks to see you through will certainly ease your blood pressure. 

Packing Jewellery 

Packing hacks can help in all kinds of ways. For many people, there is a definite need to pack jewellery safely and carefully. It might be worth a lot of money, or it could be a much-loved and cherished family heirloom. Whatever it is, you don’t want it to go missing during the move. One way to keep it all safe is to use egg cartons. Place the jewellery into the cartons and tape them up. Nothing will fall out and everything will stay together (important for earrings and jewellery sets). To stop necklaces and chains from tangling, pack them flat between two sheets of plastic or bubble wrap. You can stack them in a small box, and they will stay perfectly safe. Remember not to pack jewellery with your clothing as they can easily get lost – keep your most important items with you in a purse or small holdall. 

Packing The Kitchen 

Your kitchen is probably the room in the house that has the most items in it, so although it may seem like it’s going to be an easy room to pack, it can quickly end up taking you much longer than you had planned for. That’s especially true if you start to wrap each plate and piece of cutlery separately. Yes, that will prevent breakages and losses, but it will also lose you a lot of time that could be better spent elsewhere. One of the many packing hacks to get around this problem is to buy some foam. Cut it into circles and stack the foam in between your plates as you place the whole lot into a box. Got a lot of socks? Use them in the kitchen! You can put your mugs and glasses – even your cutlery – inside the socks and pack them that way; they’ll be nicely padded. Equally, cutlery can stay in the drawer tray, and all you need to do is wrap it in plastic and secure it with duct tape. It makes unpacking a lot quicker and easier too. 

When it comes to food, try to eat as much of it as you can before you move, and arrange to have a grocery delivery come to your new house as soon as you can when you’re settled (or take some time out to purchase some food the day after you’ve moved in). The less you have to take, the better. Food can spoil so easily, especially on a long journey, and you don’t want to waste it. Keep grocery shopping to a minimum in the weeks before you move. 

Packing Clothes

You may not realise quite how many clothes you have until you start packing. It’s a good idea to have different bags or boxes; some for taking with you, some for taking to Goodwill or similar. You don’t have to take everything, and it’s better if you can clear some clutter as you go. For the clothes you are taking, don’t fold them; roll them instead. It saves a lot of space. Those rolled clothes can even be used as packing material for fragile items around the rest of the house (the mugs mentioned above are just one idea – there are plenty more). The same is true for pillows and bedding – they make excellent padding. Anything that needs to remain on a hanger can simply be slid into a rubbish bag, and the whole lot moved as one. 

Shoes should be cleaned as much as possible before moving so that whatever they are packed with doesn’t get dirty. If you haven’t got the time or the inclination, make sure they are sealed in their own nylon or plastic bags. For precious and fragile items, you can even pack them inside your shoes to keep them safe, saving even more time and money on packing materials. 

Packing Furniture 

Any items of furniture that have handles sticking out can be a problem when moving – the handles can get caught and cause damage to walls or other items, or they can be knocked off during transit. Packing hacks to deal with that potential problem is to unscrew the handles and tape them to the inside of the drawers, along with the screws. That way, you can easily put them all back together when you reach your new place. Legs are another problem. Again, if you can remove them, that’s the easiest solution, but if not, make sure you wrap them in newspaper or bubble wrap. It will protect your floors and your furniture. 

Mattresses can get very dirty between houses, and the last thing you want is to finally be ready for bed after a hard day or moving, only to discover that your mattress is filthy. Take two fitted sheets and put one on each side of the mattress. The only things you’ll need to wash are the sheets, and the mattress will stay clean. 

Anything that you have to take apart to move will have plenty of small pieces and screws to go with it. Keep all of these items in a sandwich bag, and label it so you know exactly which piece of furniture it goes with. Don’t mix these items up; keep a separate bag for each piece of furniture. However, all the bags (adequately sealed) can go into one box, so you know exactly where everything is. 

Packing Essentials 

Finally, when it comes to packing hacks, it’s crucial to have a box of ‘essentials’ for when you arrive at your new property. This will contain things like toilet paper, shower gel, shampoo, nappies, milk, coffee, pet food, bin bags, chargers, a plate and a mug for everyone… You might also want to keep a change of clothes and some nightwear in there. With this box handy, you won’t have to do any unpacking until the next day when you’re rested. It will make that task a lot easier. 

What should landlords do when a tenant moves out? The very nature of the rental market means that no matter how good a tenant might be, eventually, they will want to move on. They might have saved up enough of a deposit to buy their own property, they might need a larger home, or even a smaller one. They might just want a change. 

When this time comes, it is vital to get the property ready for the next tenants as soon as possible so that you are not losing out on the rental income for too long. If you’re wondering what should landlords do when a tenant moves out, here are some tips. 

Inspect The Property 

This is a job that is best done before the current tenant leaves so that if anything needs to be put right, you can discuss it with them. However, if you are unable to do that, you will need to get there and check everything over as soon as you can after they move out. Alternatively, you can hire an inventory company to do the job for you – this can be extremely useful if you live a long way from the property. 

If there are any problems, you will need to discuss these with the tenant. If they cannot put the problems right, their deposit will be required to cover the cost of repairs. Otherwise, the deposit needs to be released back to the tenant within ten days of their leaving date. 

Tidy Up

Depending on how long the tenants lived in the property, another answer to the question of what should landlords do when a tenant moves out is that you may need to repaint the walls, put up new wallpaper, or even replace the carpets. This will often be down to general wear and tear and isn’t the responsibility of your ex-tenants. Ideally, they will have cleaned everything before they went. Still, you may need to look at the end-of-tenancy cleaning prices and hire professionals to make everything look absolutely perfect for prospective tenants. 

You can also dress the property by installing your own furniture. This can help a property rent more quickly as prospective tenants will be able to see how they can make it a home. An empty property can be difficult to rent out. 

Reduce The Council Tax 

Once the tenants move out, they will no longer be paying the council tax on the property, and it will fall to you as the landlord to pay it. You must contact the council involved and apply for a reduced rate if the property is empty. If you don’t, you could be paying hundreds of pounds over and above what you should be. 

Change The Locks 

When it comes to wondering what should landlords do after a tenant moves out, changing the locks is often forgotten. Even if you had the most trustworthy, reliable tenant you could have hoped for, it is still wise to change the locks once they move out. You never know if there is a spare key still around, or if they made copies. Of course, generally, a tenancy agreement will require any copies to be handed in as well, but if they can’t be found, or they have been forgotten, you may simply never know about them. Changing the locks means you can ensure the property is kept safe and that the next tenants are the only ones who have keys. 

Becoming a landlord is something that some people accidentally fall into, but it’s also something that can be a well-thought out, permanent career move for others. If you’re thinking of reasons to be a landlord, you might be wondering what you can get out of it. We’ve put together some great reasons for you to become a landlord; here are some of the best ideas.

Long-Term Investment

There are many reasons to be a landlord, and one more is that investing in buy to let properties is a great long-term investment. Providing you can get a mortgage, you don’t need that much start-up capital (although there are still some costs involved; you’ll need to thoroughly research these first. It might be a good idea to make yourself a pros and cons list so you know you can afford it) and you can be making money within weeks if you pick the right property to invest in. Over time you can build your portfolio which means that, when you’re ready to sell those properties on, you can realise a great return.

You’ll Have A Retirement Income

As mentioned above, if you have a number of properties (or even just one will do if it’s the right one) and you decide to sell them and not buy anymore, you’ll have made yourself a nice chunk of money that is ideal for using to fund your retirement. Gone are the days when people were able to retire properly at 60 or 65 and just enjoy their lives; many people will need to keep working for years after they had hoped to retire. If you invest early enough in property, this won’t be an issue for you.

More Time With Your Family

A landlord who relies solely on the income from their rental properties won’t need another job, and therefore won’t be heading out of the door at the same time each day and commuting to an office, heading back later and finding that the kids are already in bed. You’ll gain a lot more time if you are a landlord because you will simply need to look after your tenants and properties. If you engage a management company, you won’t even have to do that. That means more time to play with your kids, more time with your spouse, you’ll even have more time to go on holiday. Life becomes a lot less stressful (although that doesn’t mean being a landlord isn’t hard work; it just means you’ll be working differently).

You’ll Learn A Lot

Even if you didn’t intend to be, if you’re a landlord you are also a business owner. That means you need to learn a lot about how to run that business, including all the tax implications, as quickly as you can. It’s always good to learn new things, and running a business as a landlord means that you’ll never stop learning; there is always something else that you need to know about, whether it’s new regulations or how to decorate a home to keep your tenant happy, there is certainly never a dull moment.

Moving home is exciting. Whether it’s for work, because your family is expanding, or simply because you want a fresh start (or all of the above), searching for a new home is a great opportunity to get exactly what you want. Of course, some compromises will need to be made – there are no perfect properties, even if your budget is a large one – but there are some things that you will need to look out for and be aware of when you are viewing a property, no matter what you are looking for and where you are looking.

Damp

Damp can cause untold damage to a property, and therefore should be something to watch out for when you are viewing different potential homes. If the property has been empty for a while then there is more chance of finding damp, but even if it has been lived in, or is still lived in, it could be there.

Look out for plaster or paint flaking from the walls and ceiling, and watermarks on the walls too. If there is wallpaper, is it peeling? Is there a musty smell in the house? Put your hand against the walls; if it feels cold and wet, then there will be damp, even if it has just been repainted. Although this doesn’t mean that you shouldn’t buy the house, it does mean you should proceed with caution, and that you will need to have work done once you own it. This could be a good negotiating angle, so bear it in mind if you’re looking for a bargain.

The Roof

It can be easy to overlook the roof of a property since you won’t be able to see most of it much of the time. However, this doesn’t mean it should be ignored. If you can see holes, or there are tiles on the ground that have clearly fallen, there could be a problem. See if you can go into the loft when you are viewing a property as this can also give you plenty of clues.

If you’re not sure, ask an expert to come and check it out for you. The expert will immediately spot any issues and be able to let you know what the cost might be to have the repairs done. When you have the report, you can speak to the realtor about the problems. It might be that the owners were unaware, but they are willing to get the problem fixed, or reduce their price.

Storage

The rooms might be a good size and the garden could be lovely, but is there enough storage? This is an important point – the last thing you want to do is move in somewhere and then find there is no space to put your clothing, the food in your kitchen, or bed linen and towels that also need to be stored, no to mention toys and games if you have children.

You will need to take the amount of storage into account when you are viewing a property. It should have at least what you have now, if not more. Otherwise, you will need to be willing to reduce the amount of possessions that you have. Sometimes this can be a wonderful idea, especially if you don’t want the stress of packing everything up.

If you have bought an investment property, then you will want it to be rented out as soon as it is ready, otherwise you will be losing money. Here are some of the best ways to ensure that you can rent out your investment property quickly and that you find the right tenant at the same time. 

Research The Market 

Something that will put prospective tenants off choosing your property to live in, or even view, is the price. You may have a rent in mind that you want to achieve, but that doesn’t mean that price will be possible. You need to check to see what else is available in your area and compare those properties to your own. Find as many similar houses or flats as you can and note the rents they are asking for. This way, you can get a good idea of what you might be able to achieve. Be prepared to be flexible though when you want to rent out your investment property, as you may need to reduce your price over time or take an offer if you think it can work for you. 

Work Out The Costs 

Once you know how much rent you are likely to achieve, you should work out all the costs. For example, depending on your situation, you may be taxed on your rental income, which would be at 20 percent (or 40 percent for higher earners). This can make a big difference to your profit. There will be other costs associated with the property as well, such as the mortgage (if you have one), landlord’s insurance, and the cost of maintenance. If the rent you could get won’t cover these costs, you may need to look at alternatives such as selling the property or converting it into a multiple occupancy property that you can charge for by the room rather than as a whole. 

Advertise 

Unless people know that your property is up for rent, they won’t ask to see it. Therefore, you need to do as much as possible to advertise it if you want to rent out your investment property. If you choose to go with a lettings agent, they will do this for you, but of course they will also charge. If you prefer to do everything yourself, you can use social media to your advantage to begin with. You can share the details of your property and ensure that as many people see it as possible by boosting the posts to your chosen audience. You can use presentation software to put together all the benefits of renting your particular property so that prospective tenants can see everything they need to before contacting you. This saves you (and them) time because only those who are really interested in the property will need to see it. 

Local press can also be a helpful way to advertise your property, as can word of mouth. Really, the more ways you can promote it, the better, as the right tenant will spot it quickly, and you will be able to move them in sooner. 

Get Insurance 

Although the tenant will deal with the contents insurance, since you are the property owner, you will need to organise buildings insurance. You will also need landlord’s insurance. Landlord’s insurance is in place to protect you from non-paying tenants, for example, and will ensure that you don’t lose money in the long term. 

These days, every sort of professional — including letting agents – is active on social media. So, whether you’re new to social media or searching for methods to improve your online presence, you’d be wise to put in some extra work in this particular arena. 

In addition to setting profiles on the web’s most popular social networks, you’ll need to produce fresh material on a regular basis to keep your audience interested. While this may appear overwhelming to social media beginners, maintaining a significant social media presence does not have to be an endurance test. The following suggestions can help letting agents who want to use social media to their advantage.

Provide Links To Your Website 

Social media networks may be an excellent way to promote your own website. Prospective customers will have a clear idea of your company procedures and professional ethics, as well as the sorts of properties you usually work with and your approach to the lettings industry, by visiting your website. You could also include links to pieces you’ve written for well-known property websites or magazines for the most outstanding results. So, if you have any blog entries or instructive articles that you are really proud of, don’t be shy about sharing them.

Use Keywords 

When creating content, make a point of using keywords that your target audience is likely to look for. For example, if you want people to see a certain listing, consider putting in phrases that people are likely to search for, such as ‘two-bedroom house in Sevenoaks‘ or ‘flat close to Edenbridge station‘ might get your posts seen by those who aren’t part of your standard following base. Because the search capabilities on social platforms work similarly to traditional search engines, keyword integration might be beneficial to your social media exposure efforts.

Interact With People 

The ability to quickly engage with companies and the public is one of the handiest elements of social media. This, of course, also applies to letting agents. The more responsive you are when it comes to people’s comments and questions, the more friendly you look – and the more approachable you appear, the more likely it is that clients will use you the next time they need to find a home or a renter.

It is critical to be careful of your tone and word choices while communicating with individuals on social media. When you are not engaging someone face-to-face, it is extremely easy to come across as abrupt or nasty, and you should keep this in mind whenever you react to a remark or inquiry on social media. Additionally, try not to keep them waiting for too long for a response. No one likes being kept waiting, and the longer you take to reply, the less prospective consumers will believe that their requirements are important. So, if a question is asked within normal business hours, try to answer as soon as feasible.

A landlord’s or their agent’s losses after a tenancy may surpass the deposit value in rare cases. When a landlord or letting agency seeks to collect more than the deposit value, the landlord and agent may believe that moving to court is essential. However, it’s actually essential to understand that litigation is always a last resort. 

Even if the alleged losses certified by an inventory service business exceed the deposit value, it may be wise and cost-effective for a landlord or agent to first use an Alternative Dispute Resolution (“ADR”) service and then recover the balance in court.

By doing so, a landlord and agent have demonstrated that they have made all reasonable measures to avoid going to court and, as a result, have complied with the Overriding Objective of the Civil Procedure Rules. In such cases, an adjudicator’s review of the deposit claim would generally end after the deposit monies are depleted.

Tenant’s deposit, inventory check-out evidence, and landlord’s claim

For example, if the deposit value was £500.00 and there were valid claims for cleaning (£150.00), redecoration (£350.00), and tenancy rent arrears (£300.00) based on the checkout inventory report, an adjudicator cannot award more than the £500.00 deposit value, and the adjudication will end before all claims are resolved.

A landlord may have little choice in such a case but to seek compensation for their additional losses in court. Some schemes will enable landlords or renting agencies to choose the order in which claims should be evaluated; as a result, landlords and agents should be conscious of which claims they want the ADR service to consider first and which claims they want the ADR service to consider last.

A complex damage dispute based on an independent property inventory report, for example, might be resolved through ADR, but an easy rent arrears claim could be resolved in court after the deposit funds are depleted. In any case, a landlord or renting agent must consider the expenses, dangers, and time involved with court procedures and determine whether it is economically or sensible to proceed.

Clear inventory checkout evidence

Suing a tenant who does not have any money may be futile since, while a landlord or agent may be successful in getting a judgment, the terms of payment may require the tenant to pay back the judgment over a long period of time. In contrast, if a tenant desires to file a counterclaim, the only method to do so is through the courts, as most ADR firms would not accept counterclaims against the landlord or agent. This is because deposit protection ADR businesses only deal with claims against deposits.

For example, once an inventory clerk has produced an inventory check report outlining tenant obligations, a tenant may seek to file a claim against the landlord or the agent for failing to preserve a deposit. Such a claim would not be considered by an ADR firm and would have to be decided by a judge.

In any instance, the parties would be advised to seek legal counsel before proceeding to court.

If it’s time for you to make some changes to your investment property because your last tenant has moved out and your next one has yet to be found, you can help make that search a much shorter one. As a landlord, it’s wise to keep your properties looking good, and even to redecorate every time a tenant moves out. With that in mind, here are some of the big interior trends to think about in 2021.

Art Deco

Art deco is distinguished by geometric forms and bright colours. Art deco elements may be seen in tiles, on the staircase, carpets, and light fixtures.

Neutrals

When it comes to interior trends, consider the colours cream, white, grey, and beige. Neutrals are timeless, simple, and relaxing.

Green

This year’s colour trend is sage green (pastel green blended with grey). It’s been spotted in homeware stores and high-street fashion.

Boho

Layers, textures, and patterns in bohemian homes are relaxed. Because it is a personal style, no two bohemian-inspired homes will ever be the same.

Wood

This year’s interior trends include wooden doors and highlight beams, as well as chunky furniture and original flooring.

Typically, investors strive to buy properties for below market value (BMV). Paying less for homes can play a significant role in determining how profitable investment property is. Unfortunately, in an increasingly digital and open world, purchasing a home below market value is becoming progressively impossible.

Investors who want to maximise their returns on their investment property must master the art of negotiating. Experienced landlords and investors will aim to bargain in order to purchase properties at the lowest possible price. Such investors can purchase properties at or below market value by haggling the price down as much as feasible.

Unfortunately, the art of negotiating does not come readily to many people. If you are one of these folks, here are some useful tips for buying an investment property at a good price.

Know Your Seller

Negotiating without first knowing the seller’s motivations might be a recipe for disaster. When viewing a property, try to schedule a viewing with the owner in attendance. If not, take the time to get to know the selling agent. It is critical to understand why the owner is selling the property and how this may influence their selections.

When seeing the home with an agent, ask if you may speak directly to the seller before submitting an offer. The opportunity to communicate directly with sellers and develop a connection will enable you to discover more about their goals and ambitions. If there are numerous purchasers, you may be the only one with whom they are directly communicating, giving you an advantage.

Let The Seller Make The First Move

Making the seller move first can be advantageous. After you’ve established a connection with the owner or agency and persuaded them that you’re a serious buyer, it’s occasionally worthwhile to ask the seller what they’d genuinely sell the home for. By doing so, you are requesting that the seller reconsider the price they are willing to accept for the property. In most cases, they will reconfirm the list price. They may, however, return with a cheaper price, in which case the goalposts will have already shifted in your favour.

Look For Emotional Anchors

Anchors are used by negotiators to reframe a seller’s perspective. A seller may have a specific price in mind, but if you start with an unexpectedly low offer – preferably one supported by a historical comparison – you can utilise this to subliminally peg their expectations to a lower value. Simply said, a low offer that is shockingly low can cause sellers to reconsider their own value assumptions. You must exercise caution not to make an insultingly low offer. Making an offer that is 20-25 percent below the advertised price, on the other hand, might be a beneficial approach when attempting to negotiate a lower price.

Establish A Range

Rather than selecting a precise anchor point, establishing an emotional range might be beneficial. Instead of making a single low offer, which might put sellers on the defensive, you can make a variety of offers. While their house is advertised for £150,000, other residences in the neighbourhood have sold for £120,000 to £140,000. The seller will still accept the lower end of the range, but making an offer as part of a range will make it more appealing.

Don’t Use Monetary Terms

While most individuals are motivated by the exact selling price, it is not often the sole consideration for sellers. You may utilise this to your advantage if you understand the vendor and what they want to achieve. If they want to relocate but haven’t located the appropriate property yet, you might offer to rent the house to them for a year with a one-month break clause. If they are purchasing a home that needs renovation, offer to put them in contact with a reputable builder you know. In every case, look for ways to offer non-monetary value. When you do this, the seller will see that you are making every effort to provide them a bargain that works for them.

Use Odd Numbers

Precision is provided by odd numbers. When making bids for an investment property, buyers tend to round up to the next thousand. People frequently become fixated on much bigger rounds than this, gravitating for offers to the closest £5,000 or £10,000. The issue is that this encourages vendors to push you to the next rounded offer.

Consider making an out-of-the-ordinary offer as you approach your price limit. Instead of rounding up to £200,000, offer £196,493, for example. The accuracy of this amount can disarm salespeople and persuade them that you have reached your financial limit, deterring them from asking for more. Such offers can be particularly successful when accompanied by an investment statistic.

Give The Seller Control – In Part

It is human nature to feel more at ease when you have control over a situation. Surprisingly, this can be a valuable bargaining weapon for purchasers. Buyers can obtain the results they seek by asking calibrated questions rather than delivering replies. Ask the seller questions that make them feel in control of the discussion while also encouraging them to come up with ideas that benefit you.

If you hit a pricing stalemate, ask the seller, “How can we work together to bring this deal over the line?” Similarly, if the seller appears to be fixed on a specific price, inquire as to why that price is so essential to them. The idea is to get the vendor to feel empathy for you and come up with their own solutions.

When employing calibrated inquiries, avoid starting queries with the word “why,” unless you want the seller to defend an objective that benefits you. The word ‘why’ sounds accusatory and puts sellers on the defensive.

Think About Timing

It may be tough to strike the right balance when it comes to making an offer on an investment property. On the one hand, you don’t want to reply too soon since it would confirm the idea that you were always willing to boost your offer. On the other hand, you don’t want to wait too long because it may indicate indifference or allow other bidders to outbid you.

When negotiating, never reply with a counteroffer right away. Instead, inform the seller or agent that you will examine the offer and will need to double-check the maths before responding. Provide a timetable for when you will respond to them. If you are at work, say you will verify the figures when you get home and respond first thing the next morning.

When you receive a counteroffer, you should use the call to express concerns or questions if the price is too high. You should not reject the offer right away. Instead, you might say that it may be tough for you to achieve that amount or that the counteroffer remains rather high.

Use A Surveyor

When you have an accepted offer, you can make it contingent on a building survey. The advantage of doing so is twofold. To begin, having a trained surveyor examine the property will aid in identifying any structural concerns or expenses. Even the finest negotiators will be out of cash if the home is discovered to have severe structural concerns. Second, if small faults emerge, you may use this knowledge to return to the vendor and negotiate a cheaper price.

Walk Away If You Need To

The goal of being a landlord in the cold light of day is to make money. You must buy properties that will provide a significant rental income or capital growth to justify the time you will invest in them. If not, what is the point of devoting so much time and money to the project?

Buyers frequently make the mistake of becoming emotionally engaged in an investment property. You may have non-financial motives for wanting the transaction to go forward for one reason or another. When this is the case, you are more likely to overspend and make an expensive mistake. Calculate the projected return on the property before making an offer. Calculate the price at which you will need to buy the property in order to achieve your goal return and set it as your maximum price. If the discussions go above this amount, you should be firm and walk away.