Avoiding Costly Pitfalls: 5 Common Mistakes Landlords Make (and How to Avoid Them)
Becoming a landlord can be rewarding, but without the right approach, it’s easy to fall into traps that cost time, money, and peace of mind. Here are five common mistakes we see landlords make — and how you can avoid them.
1. Underpricing Your Property
Setting the wrong rent can leave money on the table. With demand high across Medway, an up-to-date valuation is essential to achieve market-level returns.
2. Overlooking Legal Responsibilities
From EPC ratings to Right to Rent checks and safety certifications, landlords have a growing list of legal obligations. Missing one can lead to fines or void periods — make sure you’re compliant.
3. Poor Tenant Referencing
Skipping thorough referencing can create long-term headaches. Credit checks, employment verification, and previous landlord references reduce risk and protect your investment.
4. Neglecting Maintenance
Delaying minor repairs can escalate into major costs — and push good tenants away. A proactive maintenance schedule keeps your property desirable and your tenants happy.
5. Trying to Manage Everything Alone
DIY landlords often underestimate the time and expertise needed to stay on top of regulations, tenant management, and market shifts. Working with an experienced local agent can streamline the process and safeguard returns.
RedDoor Homes supports Medway landlords with tailored rental advice, data-backed valuations, and full property management services.