Ten tips for buy-to-let

Published by The Telegraph on Saturday, 20 Aug 2011
 
We offer ten tips for a buyer who is looking to let their property out for the first time.

1 Look further afield
It may be that you can find more affordable houses, or keener demand for rented property, in a different part of the country from where you live.

2 Do your sums
Work out the monthly rent you can expect against the cost of your monthly mortgage repayments. Factor in the size of the deposit required (some mortgage firms now want 25 per cent), plus what happens if the property sits empty for a month or two.

3 Research the market as a whole
Consider the effects of the Government’s decision to cap the amount of rent it allows housing-benefit recipients. The same applies to the Article Four restrictions (on the type of tenants you can take) that some councils are planning to impose on landlords.

4 Students may no longer = money
Traditionally, they turn up …


Tags: affordable houses, buy to let, check your tenant, deposit, do your sums, housing benefit, landlords, mortgage, research the market, tips

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