In no particular order:

1. The inventory

2. An experienced lettings agent

3. Social media and digital

4. Proximity to your properties i.e. being local

5. Tenants!

See my reasons why on my blog Top 5 things most under-valued by landlords.

Do you agree with my list? What would you add to it?

Mine are

1. Good Tenants
2. Good neighbours
3. Good and reliablepeople who support us - tradespeople, accountants and solicitors
4. Good location
5. Good Inventory

Follow me on Twitter @landlordtweets

Great list Mary.

Good neighbours are important. Is that linked to my No. 4 - to invest close to where you live so that you can get to know the people who live around your rental properties?

Have you found they help out in times of crisis?

1) Flexibility when good tenants have a bad month. Dont jump down their throats
2) Paying tradesman same day dont wait for the 30 days they give you ( stand out from the crowd)
3) Estate agents - they need loving so they will pick up the phone to call you (not your competitors) with that cracking deal.
4) The support of those you employ to do the bits you dont like or cant do. Flowers / cash bonus / or just a pat on the back
5) The family who allow you sometimes to work silly hours or take that all important call in the middle of dinner!

(17-08-2012 02:24 PM)vanessa warwick Wrote:  Great list Mary.

Good neighbours are important. Is that linked to my No. 4 - to invest close to where you live so that you can get to know the people who live around your rental properties?

Have you found they help out in times of crisis?

Actually letting close to where you live can be a big pain, noeghbours and tenants just pop around at all hours - landlords haven't the legal right to "quiet enjoyment" hahahaha It is handy to be able to deal with problems quickly though.

I try not to become too friendly with those who live close to my rented properties because sometimes they feel that they should "just let you know" things that I don't need to know about my tenants. I always give neighbours my contact details and tell them to let me know if my tenants do cause them any concerns. Its so important that landlords respect the right of these neighbours to enjoy their homes and not to allow tenants to treat them disrespectfully. The two biggest issues I deal with are parking and noise. I do sometimes defend my tenants from neighbours who think that because they don't own the property they have less rights. Heres a story that happend last year.

I was working in one of my properties while the tenants were on holiday and the neighbour opposit came to tell me that the tenants often park a van outside of the front of the tenants property because their cars were filling the drive. I looked puzzled and she explained that she likes to look out of her window and doesn't want to see the van!! I said that I did not own the road and that the tenant had a legal right to park a van with road tax and insurance on the the road so long as it was not blocking access and I was sorry but I could not help her. She explained that they were "just tenants" and that I should tell them to park the van somewhere else. I bored her to tears by explaining that while my tenants were living in my property under an AST they had the same rights as owner occupiers in law and that I always obey the law. - I went into a lot more detail to make the point and prevent her from coming over again.

As she left to go back to her own home she said "And could you please move the post box off the wall beside your front door - it spoils the look of your house from my window". This is a very expensive, smart stainless steel post box of about 30cms sq. I could not resist replying "I'm sorry my tenants need the post box because there isn't one in the door but don't worry you won't be able to see it while the van is parked outside" Her mouth opened and closed but no words came out.

Follow me on Twitter @landlordtweets

That neighbour clearly didnt know the golden rule.......#dontmesswithmary!

I would go with Mary's list, the only things i would add are 'luck', 'trust' and judgemement.

A little of each and you have cracked it , or 'smashed it' as my young cousin constantly says

Phil Stewardson.
Stewardson Developments Ltd.
http://www.stewardson.co.uk
Follow me on twitter - @philstewardson

---

[quote='phil_stewardson' pid='79003' dateline='1345213724']
That neighbour clearly didnt know the golden rule.......#dontmesswithmary!

hahahahahahahaha

1) Mortgage lenders
2) A good team of professional advisers
3) Reliable trades people
4) Networking of all forms - on and offline
5) Relationships with tenants

A derivative of one point Jonathan made. I would say landlord under rate a lack of voids. Some focus on the headline rent rather than the cost of a tenant moving on when the rent is at market.

Following a recent report, I thought I would add ...

Survey

to the list.