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Top tips on becoming a landlord

There are many things to think about when becoming a landlord. Here, Matthew Williams, Co-Director of Redbrick Properties in Leeds, gives his advice.

Renting out a property comes with many pros and cons. Before you can decide on whether to manage a property yourself or have a lettings agency take care of it, it’s important to have a solid understanding of what is required of you as a new landlord.

Calculate how much income your property will generate
Researching how much rent you can achieve is a good place to start. If the figures stack-up then you are on the right path. The main thing is that you can cover your mortgage payments and leave enough for maintenance, insurance and tax, while still making a profit.

OnTheMarket plc (LON:OTMP) provides property search services for buyers, sellers, landlords, and tenants in the United Kingdom.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.