We have the gift of an extra day to enjoy this year, and as a landlord, there are many things that you may consider doing in these additional 24 hours. So what will you get up to? We have a few options to consider…
The nitty gritty
Not the most exciting of activities for your extra day, but as a landlord, it is vital that you keep on top of all property maintenance and lettings admin. If there are any odd jobs you’ve been putting off, now is the time to do it. Call your tenants and arrange to go round and update their furniture, or organise some routine inspections – you won’t regret getting ahead and keeping everything in order.
What’s going on in the world?
Things to do on Your Extra Day in 2016
If you’ve not had the time to sit down and catch up with the goings on of the property world, now is an ideal time. At Landlord News, we bring you all of the latest happenings of the buy-to-let sector, rental market, landlord law and finance world. And if you can’t relax at your computer and browse our website, why not check our mobile or tablet site while you’re on the move?
Tenants, tenants, tenants
With rental demand still soaring, there’s no shortage of tenants looking for properties. But there is a lack of rental homes, so, if you’re going through a void period, use your extra day to search for some nice new tenants. If you haven’t had tenants in a while, it may be that your property needs updating or you’re targeting the wrong type of renter. Find out where you’re going wrong and fix yourself some fresh faces.
Perfect your portfolio
With the extra 3% Stamp Duty surcharge looming, landlords are rushing into the property market to avoid paying masses of additional tax. But be quick – if you wish to expand your property portfolio, you will need to complete on a purchase before midnight on 31st March. If you are planning another investment, you may want to consider one of these buy-to-let hotspots.
Get to grips with the sector
It’s not just Stamp Duty that landlords are facing this year; there are many forthcoming changes that will affect buy-to-let investors in the future. There are several financial changes that will change your lettings business, so get your head around these and work out how you individually will feel the impact. Our latest news section will keep you updated on all of your responsibilities and provide you with all the advice you need.
What does the future hold?
With so much change set to hit the buy-to-let sector, you may want to consider your long-term plans for your lettings business. Could you start operating as a limited company? Or maybe you will finally start to use a letting agent to manage your properties? You may even decide to protect your rental income by investing in rent guarantee insurance. Just remember to ensure you’re doing what’s best for you.
And finally…
How’s the perfect way to spend an additional day? With your feet up of course! Don’t forget to take it easy and enjoy yourself on the 29th… You’ll still have another 306 days to take care of everything else.