1. DO set aside money for the unexpected – such as a void period in rent or a boiler breaking down.

2. DO keep an open mind about what and where to buy. Talk to as many experienced landlords as you can and learn from their mistakes and successes.

3. DO think carefully before buying a property with maintenance issues. Money you save buying it may be lost by it being empty while you’re renovating or improving the property.

4. DON'T indulge your own taste in design and style of the interior or exterior of the property, as it’ll restrict its appeal. Keep it neutral and safe.

5. DO be cautious about buying properties off-plan. You need to stick to a specific time-frame to maximise your return and developers may not guarantee a finish date.

6. DO beware of companies offering cheap conveyancing. If a few pounds saved on conveyancing means a slow service you may lose the property.

7. DON'T skimp by finishing your buy-to-let property with second-hand furnishings, fixtures and fittings. If they don't meet health and safety regulations you could find yourself in trouble.

8. DO be aware of the specialist insurance you need. Standard domestic insurance policies do not cover many of the eventualities that landlords face.

9. DO think carefully before leaving the management of your property to relatives or friends. Buy-to-let properties need experienced management to maintain tenant occupancy and maximise returns.

10. DON'T abuse the relationship you have with your tenants. Give plenty of notice before you visit and make sure maintenance problems are addressed quickly. Tenants are an essential part of your business plan and the relationship needs to be managed in a professional way.

* Supplied by the Money Centre