If investing in Property is only a side to your main career then you will want to make sure that you invest wisely and create an investment this is as hands-off as possible.
There may always be some level of commitment required but planning ahead and preparing can save you time and money in the long run. Here is the Gallus Guide to becoming a Hands-Off Landlord 2019:
If you have not yet bought a property then the first stage is deciding which area will make the best investment. Cheaper areas can provide better yields, you may have more problems with tenants and repairs. Beware especially of unfactored blocks of properties or flats which are not well managed communally as these could end up being costly and time consuming.
Consider the Gallus Investment solution to assist with the search if you are not familiar with rental properties or areas
The right Tenant for the right property should be carefully referenced and screened prior to accepting their Tenancy. A good Tenant which pays rent on time and respects the Property is invaluable and will allow the Landlord the ability to be hands-off during their Tenancy
It would be wise to use a referencing agency or Letting Agency for this.
How often do the same issues come up – radiators need to be bled, boiler pressure is low, condensation on the windows or even mice. If you give your Tenants the knowledge to deal with these issues they may even be resolved before you get the phone call which allows you to be as hands-off as possible.
The only issues you should receive will be unresolvable by the Tenants
It’s 2019. Why are documents still printed and signed? Use Technology to streamline your operation as much as possible – Video walkthrough inventories, software which gives reminders when certificates expire and even Tenants signing documents can all be done online, save yourself the stress of firing up your printer.
You could even Facetime your Tenant to look at a reported issue, just make sure your tenant is happy to do everything online or by email
Professional Property Manager
Using an experienced Property Manager could save you endless heartache in the long-run. With a myriad of legal requirements and paperwork it pays to have your property professionally management. This is the simplest and quickest way of putting your feet up with a hands-off investment, no more emails and phone calls.
An experienced Property Manager like Gallus will also know the quickest and cheapest solution to the problem, potentially even saving money should anything go wrong