First published in 2005, this 2013 edition is fully revised for the current Buy to Let market. David Lawrenson holds a rare distinction of receiving all 5 star ratings on Amazon with his book which claims to be Britain’s best selling property book.
A Daily Telegraph review perhaps sums it up nicely: “Mandatory reading… invaluable information for all… leaves no stone unturned”
David is a very experience landlord with a background in the financial services industry. His knowledge of the mortgage industry must have been a great help to him when he started as a full time property investor and landlord.
Couple this with years of practical experience letting all types of residential housing, from single lets to multi-occupation HMOs, and you get a distillation of knowledge in this book that goes right to the heart of successful landlording.
Learning to be a successful landlord, in my view, is as much a state of mind as anything else: its learning that you remove the emotion from the process and manage tenants objectively as customers. They may be in “your” house for the duration, but in fact the house is “theirs” while they occupy it. You have to be prepared to let go! You have to be prepared to accept in extreme cases that even when they don’t pay rent and wreck your beloved home, there’s little you can do except go through the legal processes.
But manage it right, based on the right approach and good management systems, principles spelled out clearly in this book, and even a part-time hands-on landlord can make a real success of property investment.
David Lawrenson’s book is a practical guide to the whole process of investing, letting and management. His academic and research background give him a market perspective that has enabled him, coupled with his practical tenant management experience and knowledge of the property laws, to make a real success of his business.
The book covers the whole process of property investment and management in an easy to read and friendly manner without mincing words about the realities of buy-to-let landlording.
Following a good overview and introduction to property investment and a section on the simple economics of the property market, the book follows a natural progress of: finding the right investment property, arranging finance, refurbishing and dealing with builders, the legal stuff, finding good tenants, managing a tenancy, and dealing with difficult tenants.
The book concludes with a series of tips and traps, a section on how and when to dispose of your investment, tax matters and how to plan for and minimise tax, a section on investing abroad, and finally a good example letting agreement with the author’s interpretation of what many of the clauses mean.
At around 250 pages and priced at under a tenner the book is a real bargain in terms of its price to knowledge ratio. I can recommend it.
You can get the book here.
Tom Entwistle, Editor.