Property is often a key component of an investor’s portfolio. With numerous ways to profit from property, it can be often difficult to realise the plethora of opportunities that present themselves to those fortunate to have capital to invest. Whether it’s a Buy to Let, development site, renovation or even a Bed and Breakfast, Robin King Estate Agents can assist in finding these opportunities. Our team can advise as to which properties may be suitable.
Before considering buying a property to let out it is important to consider the following factors:
Helping you choose the right area
Some areas have a much higher demand for rental properties than others based on a myriad of factors including transportation links, schools and employment opportunities. Our experienced team can help with guidance as to the best areas.
Recommending options whilst choosing the right property
Some types of property are more popular than others, so its important to choose a property that is sought after by prospective tenants. It is important when choosing the property that you view it as an investment and not as to whether you could see yourself living there, as everyone’s tastes are different and tenants are often looking for different things compared to home owners. Additionally, choosing a property that will require significant maintenance may reduce profit.
Evaluate the costs against earnings
There are typically more costs involved in a Buy to Let purchase than just the initial price of the property. If you have taken out a mortgage in order to buy, it is important that you have the ability to cover repayments during voids or non-paying tenants. It is the responsibility of the landlord to maintain the property and other running costs such as servicing fixtures and fittings.
Aiding your compliance
As a landlord you are subject to legal obligations to your tenants and must comply with the current regulations. Our team is fully aware of the regulations that will affect our landlords and can even advise on the introduction of future legislation. In addition, it is important to consider the tax payable from rental income, as some may be offset by typical landlord costs.
To find out more, call our office on 01934 876 226 or email firstname.lastname@example.org