6. Not increasing rents regularly
You should regularly review your rents and ensure they are at market levels. A small regular review is much better than an infrequent review where the increase is so high that it shocks the tenant and they move out of the property.
As a new landlord it might feel daunting to increase the rent for the first time fearing that your tenant may not like it and move out. The reality is, as long as the increase is reasonable you should have no problems with your tenant.
Our experienced property managers can help you with any questions you have regarding what is right for your property.