As a new landlord in Portadown, embarking on the journey of property investing can be both rewarding and challenging. While the prospect of generating rental income is enticing, it’s essential to navigate potential pitfalls with caution to ensure a successful and sustainable rental investment. Here are the top five mistakes new landlords often make, along with tips on how to avoid them: 1. Failing To Screen Prospective Tenants Thoroughly Potential Problem: Rushing through tenant screening or skipping it altogether can lead to renting to unreliable or problematic tenants. This may result in late rent payments, property damage, or even eviction proceedings.How to Avoid: Take the time to conduct comprehensive tenant screenings, which should include credit checks, rental history verification, employment verification, and references from previous landlords. Consider partnering with a reputable property management company to assist with thorough tenant screening processes. 2. Neglecting Property Maintenance Potential Problem: Ignoring property maintenance…
