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mortgage services |
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buy to let loans - Landlord Tips
When investing in a property to let, consider the following:
- Shop Around: Choose tried and trusted locations where the rental
market is strong.
- Ask Around: Talk to someone you know who already has a residential
investment. You could learn a lot from them.
- Buy in Good Nick: Don't buy a property that needs a lot of maintenance.
Unless you are a seasoned operator at this game, you don't need
the hassle.
- Smart Fitout: Fit out to a good standard but don't go over the
top. The same rent will likely apply even if you go a little up
market on the fitout.
- Choose Tenant Carefully: Decide before you advertise what type
of tenant you want and hold out until you get what you want. Make
sure there are references, and get a hefty deposit upfront.
- Get a Solicitor: Make sure there is a lease and your solicitor
is happy with it.
- Know a handyman: Have someone in mind to call if there is a
problem with the plumbing or electrics of the property.
- Don't pay too much: Compare the expected rent with the gross
purchase price, and ask yourself, is the return worth it?
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