Growing Your Portfolio
A property portfolio can provide you with a good combination of capital growth and regular income. However, no investment is without risk. Property investment could have more potential pitfalls than traditional financial investment. This can be countered by a sensible approach and proper planning.
Investing in property is not the equivalent of investing in shares. You are providing homes for people and should never forget the level of responsibility this entails. We believe a successful landlord needs the following key skills:
To be good at managing finance and budgets – looking at forecasts, record keeping and basic accounting
To know and understand the rights and responsibilities of a landlord – doing the research, maintaining continued professional development and achieving accredited landlord status.
Property management – dealing with repairs, refurbishments, meeting health and safety requirements and how to deal with emergencies.
People Skills – dealing with issues effectively and swiftly. After all BTL is “people” business more than a property business.
Successful landlords reflect on their strengths and weaknesses, are committed to continuous development and build a team of people around them to augment skill areas where they themselves are less proficient. Click here to see a range of our Landlord Development Courses.