Leonard Peters

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Monday, 10 Dec 2018

Leonard Peters | Buy to Let

Buy to let

Taking into account the current economic climate and state of the UK Pensions there has never been a better time to invest your money in property, with the number of people renting at an all time high and with 1st time buyers nearly non existent you will have no problem in finding tenants for your new investment.

 

Things to consider when searching for a buy to let property

What is your target market? Who will you be trying to attract as a tenant?

If you are looking for a property to rent to professional individuals then you should look in an areas that will suit this type, close to local transport links and amenities is ideal.

Look at the internal condition of the property, we appreciate returns on investment are Important and that is why ensuring the property is in keeping with this era i.e modern kitchen, bathroom, double glazing and neutral décor will ensure the property rents quickly each time a tenant moves on and therefore reducing any loss in rental income.

Think from a tenants perspective in terms of what you would want /expect if you were looking at renting a property yourself.

If you are happy to accept tenants on DSS then you can widen your search in terms of locations being close to train stations etc are not as important factors.

 

How much time involvement do you want to spend on management?

If you're happy to deal directly with your tenants when something needs fixing or there's a problem, that's fine, but remember that, as far as they're concerned, you are a full time landlord. As an established letting agent in Southend, we can manage your property for you, dealing with the day to day running and allowing you to concentrate on other things.

More about our property management services

 

What is required from you as a Landlord

You must ensure all gas appliances are tested by a registered Gas Safe engineer on an annual basis and ensure the tenants receive their certificate.

Any electrical appliances provided must be tested by a competent person such as a NICEIC qualified electrician.

EPC Energy Performance Certificates are required under law to be provided to any new tenancies as from the 1st of October 2008. They last for 10yrs and contractors charges vary in this respect, we are able to arrange for these to be completed on your behalf for £40.