Top 3 Landlord Mistakes Self-Managing Landlords Make (and How to Avoid)
At A Flat In Town, we regularly speak with landlords who’ve been managing their properties themselves. Many do a great job, but time and again, we see the same key issues cropping up. The good news? These problems are easy to avoid once you know what to look for.
Here are the top three pitfalls we see, and how to steer clear of them:
1. Falling Behind on Legislation
Letting legislation moves fast and it’s not always easy to keep up. But failing to follow the latest regulations can expose landlords to serious risk, from fines to invalidated insurance.
We’ve recently seen confusion around things like:
- Repairing Standard changes in 2024
- Changing rent cap rules
- Changes to Energy Performance standards on the horizon
It’s understandable – many of these changes aren’t widely advertised. But staying compliant is essential, especially in a landscape where enforcement is tightening. This is where we can help as an accredited agent as we receive regular training and industry information, but for those of you without an agent, sign up to receive property newsletters, follow industry bodies on social media and see if there is a landlord association (such as the Scottish Association of Landlords here in Scotland) you can join for advice and support.
2. Not Inspecting During the Tenancy
It’s surprisingly common for landlords to only visit their property at the end of a tenancy – and often, that’s when they find out about problems that have been quietly growing.
Tenants don’t always report issues, either because they don’t notice them or assume they’re not a big deal. We’ve seen things like:
- Leaks that caused serious damage because they weren’t caught early
- Ventilation problems leading to mould
- Gardens or common areas getting out of hand
Routine inspections, roughly every 6 months, make a huge difference. They help catch issues early, show tenants that the property is being looked after, and ultimately save time and money in the long run.
3. Losing Track of Market Rent
We often meet landlords charging rents that haven’t changed in years. They want to be fair and avoid upsetting good tenants (which is absolutely understandable), but it can cause problems down the line.
If your mortgage rate goes up but your rent hasn’t kept pace with the market, you may find yourself under real financial pressure.
We’re not suggesting you hike rents unfairly, but keeping an eye on the local market and making small, annual adjustments (if appropriate) can help you stay sustainable while still offering good value.
In Summary
Managing a property yourself can be rewarding, but it also means keeping on top of a lot of moving parts. The issues above are very common, but they’re also very fixable with a bit of structure and the right advice.
If any of this sounds familiar and you’d like a hand, feel free to get in touch. We love helping landlords make their lives easier.
