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Neville Turner

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New to Buy to Let?

NEW TO THE WORLD OF BUY-TO-LET?

Here are some things you should consider:

Research the market – Weigh up the risks and the benefits of investing. Can your money perform well, and bring you a good return over the long run? Talk to an independent financial advisor, they can give you an overview of the buy-to-let mortgages on offer and an local agent can give you an overview of potential properties to invest in.

Location, Location, Location – Choose an area that offers guarantee of achievable rent. Is it a promising area; near to good transport links for professionals, schools for families or perhaps universities for students? The money you choose to spend on the property and its location may well dictate the type of tenant you find. Seek advice from a local agent who can give you an insight into the local rental market. If you’re renovating a property for rental, keep in mind the kind of tenant you’re looking to attract.

Management fee? - Will you rent it out yourself or get an agent to do so? Agents will charge you a management fee, but will deal with any problems that arise and have a good network of tradesman if things go wrong in the property. This could save you a lot of time and inconvenience in the long run, and will keep tenants happy.

Letting agents can also help with drawing up tenancy agreements, and making all the relevant checks on potential tenants. They can advertise the property and find you a tenant quickly. Local high street agents have a great knowledge of the local area and can offer an excellent and personal service.

It really pays to look after your tenants and a letting agent can help you to do this.

 

 

 

 

 

 

 

 

 

 

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