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Thinking of Buying to Let?
Quick Pointers:-
1.) Ask Letting Agents their views of the local properties and the rental values.
2.) Make sure you have the necessary funding.
3.) Choose your mortgage carefully making sure it the right one for you.
4.) When you have bought the property get good reliable and fast working tradesmen (long delays cost money). Decorate to a good standard using neutral colours throughout.
5.) Remember rental income is taxable – you can offset such things a letting agency fees, mortgage interest costs and if you let the property furnishes you can claim a 10% allowance for wear and tear.
6.) If you sell your buy to let property you will pay a 40% capital gains tax.
7.) Consider joining a Landlords Association. For around £100 a year you will receive help for tax issues, paperwork and new legislation.
8.) When buying a property check important details whilst viewing such as:
9.) Are there shops and schools nearby.
10.) Is public transport available
11.) Is there suitable parking
12.) Is it on a busy road or under a flight path
13.) Is the roof in good repair
14.) Are there any signs of cracks or subsidence
15.) Is there any damp and are the window frames in good condition
16.) Has the property double glazing or central heating.
LettingAgent.com is part of Award Winning Landlord Mortgages, click on Buy To Let Mortgages.
More Buy To Let Tips and News
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v The Top Five Pitfalls of being a Landlord
v 'Continuing demand' for buy-to-let properties
v Student lettings market 'thriving' in York
v Landlords 'should consider tenant priorities'
v Bristol 'attracting investor attention'
v Buy To Let Sector 'stays strong'
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