Property is outperforming almost all other types of investments at present, so there has never been a better time to purchase a property either for investment or as a buy-to-let.
Buy-to-let investment is very different from owning your own home. When you become a landlord, you’re effectively running a small business – one with important legal responsibilities.
The key to successful property investment is to do your research and seek expert legal advice before buying.
When purchasing a buy-to-let property there are different legal and tax implications to buying your own home. No matter if you are based in the UK or overseas, we always recommend that you speak to a solicitor & tax advisor who is experienced in all aspects of property transactions.
Whether you are using a property Management Company or managing your property yourself it’s good to check these buy-to-let tips when it comes to letting out your property.
Property management is one of the most important aspects of a successful property investment.
Make sure you use a reputable company with good testimonials. A good property management company will have experience in landlord and tenant law. They will be able to advise you about your rights as a landlord and your responsibilities to your tenants; as well as guiding you through the tenancy agreements to make the whole process as simple as possible.
Most our properties have on-site management which offer the assured rental income paid by the developer or Management Company to give you that hands off approach.
Top Tips for Property Investors
- Research the market
- Choose the right location
- Sort out your finances
- Think about your target tenants
- Know the pitfalls
- Use a reputable letting agent
- Be properly insured
As a landlord, you’re exposed to many more risks than you think. When you are letting your property to tenants you’ll need more than just standard home insurance. Whilst you’re not legally required to have landlord insurance, there are risks associated with a rented property that won’t be covered under a standard home insurance policy.
It’s vital that you have buildings and contents insurance cover, so that in the event of a storm, flood or other incident or an accident, you won’t be left out of pocket.
A good landlord insurance policy should include buildings cover and should also cover your property for accidental damage. We also think you should be covered for loss of rent.
Get to know your legal obligations as a Landlord
- Gas & Electrical
- Energy Performance
- Protecting Deposits
- Smoke & Carbon Monoxide Alarms
- Right to Rent
- Landlord Licensing Scheme
- Health & Safety Inspections
- Checklist for renting
Is the investors rental income expressed as a percentage of their property value
When a property increases in value over time