Collaboration is key for landlords who are struggling to find tenants or get the rental incomes they need.
Paul Stevens, chief executive of Just Property, says landlords should look at how they can leverage their assets in a shared environment. Some examples he gives, and questions he poses, are:
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• Does your apartment have a garage that could be let separately to bring you higher rental income?
• Do you have uncapped WiFi that you could make available to neighbours in return for something else that your
tenants would benefit from, like a cleaning service?
• Is your tenant open to a house-share to reduce his/her rent?
•Is there a financial agreement you can come to with your bank, such as extending the term of the mortgage loan?
Ultimately there will be positive and potentially negative implications for all these options and landlords need to evaluate each one carefully, he says.