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How to become a Landlord

avg. starting salary

Looking for a job where you can work from homes? You should be a Landlord… Landlords are property owners who rent their houses, flats and apartments to private tenants. Although it may not be your traditional 9 to 5 job, it can be a great source of extra income for anyone who owns their own property, and could even provide your primary salary if you have multiple places on your books. So whether it’s just a spare room you need to fill, or a flat you’ve fixed-up, you’re just a tenant away from becoming a Landlord. Typical duties for a Landlord may include:
  • Advertising your property through a Lettings Agent
  • Securing deposits
  • Putting together inventories before each new tenant comes in
  • Making sure the property is clean and presentable
  • Dealing with any issues that arise for your tenants
  • Making sure the property complies with all health and safety regulations, and is properly insured

To become a successful Landlord, first you need to find out what approach works best for you. You could choose to be hands-on, and take on any issues or DIY that needs doing yourself, or adopt a more laissez-faire approach and pay an agency to deal with everything else. The choice is yours. However, whatever way you choose to go, practical skills, enthusiasm and patience will all be valuable attributes for a Landlord. Other necessary skills for a Landlord include:
  • Excellent interpersonal skills
  • Negotiation skills
  • Commitment
  • Empathy
  • Some basic experience of DIY (N.B. can be predominantly flat-packed)
  • Management and organisational skills

"I decided to start letting properties when my partner and I moved in together, and we were looking for some extra income from one of our existing properties. It was hard at first, and there’s a lot to learn on the legal side of things before you get off the ground, but we’re both practical people, and loved getting stuck in when problems came up. After a few years we bought another two properties in the local area, and began renovating them to rent. Now they’re my primary source of income, and I couldn't imagine going back to my day job. Although with some tenants, it would probably be a lot less work…"

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