You have decided to become a Landlord and want to purchase your first buy to let property. To make this rental a success, it is important to consider certain matters.
What property should you buy? Of course, this is partly dependent on budget. We will give you advice on the property and what needs to be done to make it attractive to tenants. It is our job to ensure you obtain the maximum rent.
Where we are managing a property we check the rent obtained each year to ascertain if the rent is due to be increased.
The yield - the all important question that every landlord needs to know. The simplest way to calculate the rental yield is to divide the amount you would pay for a property by the amount you will receive in yearly rent. For example - if you paid £100,000 for a property and received £200 per week in rent then the annual rent would be £10,400. This means the yield will be 10.4%.
Consider the tax implications - there have been recent changes and we can introduce you to a specialist tax advisor who will advise you, given your particular circumstances.
Make sure your property is safe to be rented out. You will need both a gas safety certificate and electrical installation check. There is both building insurance and in some circumstances contents insurance to consider. We can recommend specific landlords policies for you.
We can arrange specific Rent Guarantee & Legal Protection Insurance. This is always recommended and we can arrange it for you.