Step 7: Manage your property like a pro and make sure you have landlord insurance
Managing your property is important for safeguarding your buy to let investment
Good maintenance, clear communication, and efficient rent collection will help prevent problems before they escalate, keeping your tenancy running smoothly. At the same time, having the right landlord insurance in place provides vital protection against unexpected costs such as property damage, legal disputes, or rent arrears.
Tips:
Regular inspections and maintenance scheduling: Conduct routine property checks to identify and resolve issues early, preventing costly repairs later. Keep a maintenance schedule to make sure appliances, heating systems, and safety equipment are regularly serviced. See our property management guide for practical advice
Keep written records and open communication: Log all communication, inspections, and payments. Transparent documentation builds trust and helps resolve disputes. Use email or management software to stay organised
Use rent protection and legal expenses: Rent arrears can significantly impact your cash flow, while legal disputes can be costly and time-consuming. Rent protection insurance covers lost income if tenants default on payments, and legal expenses insurance helps cover the costs of eviction proceedings or legal advice
Proactive management and the right insurance aren’t just safety nets, they’re essential tools for protecting your property and your peace of mind”
