Demagnetize........
Basically just about any demagnetizer will work so its just a matter of opinion as to which one to get.
It's really not necessary to remove the heads (don't know where you heard that).
I use a Teac E-3 which came with my TEAC TZ-10 Maintenance Set.
The Teac E-3 is the same as many others, leave the plastic tip on.
You can test if it works using a paperclip first, hold the demagnetizer close to the clip and press the ON button, if the
demagnetizer starts buzzing you have a winner.
Instructions:
Take the tape off the machine and turn the power off.
That is very important otherwise when coming close to the heads, 60 cycle current pulses produced by the demagnetizer
will look just like 60hz audio signals to the heads and will seriously damage the electronics + VU-meters try to escape the room.
Sometimes it's also better to take the head-cover off so you can reach properly, it depends what reel to reel model you have.
So turn off the machine first.
Plug the demagnetizer in and 4 feet away from the recorder you push the on button. Move slowly in to the headstack.
Move the demagnetizer slowly up and down close to the head, not touching the head, and slowly move away (on button still engaged) at
least 3-4 feet away and release the button.
NEVER let go of the on button when close to the head, that will do the opposite and magnetize the heads instead...
After you do the playback-head and record-head + tape-lifters if your deck has that, you are done, skip the erase-head.
OR-
Deagussing (Demagnetizing)
There are many ways to screw this part up, so please be careful.
A little stray magnetism can become quite a big problem in tape recording.
It only takes a small amount (.2 gauss) to cause trouble on the record head.
Playing 10 cassettes will put about that much charge on the heads.
A little more than (.7 gauss) will start erase high frequency signals on previously recorded tapes.
DEGAUSSING IS ALWAYS DONE WITH RECORDER TURNED OFF.
If you try it with the electronics on, the current pulses produced by the degausser will look just like the audio signals to the heads.
These pulses are around 10,000 gauss, and will seriously damage the electronics inside.
So turn your deck of first:
Be certain your demagnetizer has either a plastic cover or plastic tape covering the tip.
Make sure that no metal 'NEVER' touches the heads as it will scar and ruin them.
Turn the demagnetizer on at least 3 feet away from your deck,
slowly move in to the tape path, move the degausser slowly back and fourth without touching the heads.
Slowly move it away again to at least 3 feet ( 1 meter ) before releasing the button.
Repeat this on the metal tape guides on each side of the heads (reel to reel)
NEVER release the demagnetizer when close to the heads...you will put a permanent magnetic charge on them, that no degaussing will remove, so be sure to concentrate while you are doing this.
A clean and properly demagnetized tape recorder will maintain it's performance without any other attention for quite a while.