5 LETTING AGENT TOP TIPS WHEN LOOKING FOR A BUY TO LET PROPERTY
Secrets of a letting agent. 5 of the top tips for buy to let Landlords to remember when buying a property they are going to rent out. What should you be thinking about? Which properties are the best? What are tenants looking for? Read our short 2 minute blog about our top 5 tips...
Read out top 5 tips to consider when buying a property to rent out...
1. Size doesn’t matter! Biggest is not always best when looking at buy to let investments. Instead of looking to buy a 3 or 4 bed property, consider spreading the risk and look at buying a couple of smaller and cheaper properties. Your return will be greater.
2. Give it some thought… Think about what sort of Tenants you want to attract and know your market. If it is a family you are aiming for, how close is the nearest school? Are there any amenities close by? Are you happy with pets? family’s will more than likely have a cat or a dog and not allowing pets will affect how many potential applicants you have to choose from. If its professionals you are wanting to attract, are there decent road networks nearby.
3. If it looks too good to be true it is! Cheapest is not always best. If the property you are looking to buy is relatively low in price it will more than likely need improvements, think about how much work you are willing to undertake and if you are not the sort of person who enjoys DIY then how much will it cost to get workmen involved and how long will it take. The longer the property is empty the more money it is costing you.
4. Two heads are better than one! Think with your Landlords head, try not to be emotional when it comes to buying. Think practically about what will make the best investment and not which property you would like to live in yourself.
5. And finally how involved do you want to be? Are you happy to take calls on weekends and evenings from your Tenant with issues when you are probably having much needed family time. Think seriously about using an agent to look after the management of the property. There is so much legislation to wade through and keep up with. You have to ask yourself do you want an investment or a second job!
WHY NOT LET & FORGET……. Collect the money and leave the hassle with me.
Want to chat about it? Call Sal on 01748 834373 or 07521 505114 or email me sal@lovepropertyuk.co.uk
I am the Love Property lettings master with over 25 years of industry experience, you are in safe hands.
