5 May

Buy to let tips for Investors

Buy to let tips for Investors

Despite increasing regulation for landlords and more taxation, property still remains a popular investment choice for those fortunate to have money to invest. Low bank interest rates and strong rental demand make property an attractive investment. However, potential landlords should consider carefully before choosing their buy to let property to ensure the right choice. Our tips for potential landlords are:

1. Do your homework and research the market – Find out which homes rent well, bear in mind the extra 3% stamp duty, don’t just plump for a property that seems good value – are there plenty of good tenants for it?

2. Work out your rental yield – do the maths and compare your net returns to other investments allowing for all the costs including maintenance and possible void periods between lets.

3. Location, location, location – choose a promising ‘in-demand’ area which may have special appeal due to employment, proximity, schools close to shops, amenities, public transport, etc.

4. Choose the right sort of property – Often practical low-maintenance modern homes involve less maintenance. Remember letting is not a ‘one way street’ and dealing with maintenance issues promptly and properly is essential, as is complying with all legislation, which is where a professional managed letting service is invaluable.

5. Get your finances in place – The criteria for Buy to Let mortgages have tightened up and being ready to proceed quickly is important to secure the right property.

6. Use a reputable ARLA Agent such as Adams. We can advise on all aspects of buy to let and the ever increasing legal obligations involved in letting to maximise the return on your valuable investment.

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