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Five buy to let tips for new landlords

 
  15 Jun 2015

The buy to let market is viewed as an attractive proposition for many potential landlords, but it isn’t necessarily an easy or simple market to achieve success in. It is important that landlords approach the buy to let market in an appropriate manner, and here are five top tips about the buy to let market that new landlords should consider.

Consider the rental market in your area

First of all, just because the UK rental market is booming, doesn’t necessarily mean that your local market is of value or interest. It is important that you review the local market, or the market of any area where you want to become a landlord.

You should also be considering the sort of properties that people are looking to rent and what sort of tenants you want to let out to, or what sort of tenants are looking for property. These are big components in the rental market, and you should also keep an eye out for legislation ore regulations that may impact on your abilities to be a landlord.

Consider the mortgage carefully

It is important to realise that buy to let mortgages represent a risk and you need to be sure of your finances with respect to what you can afford to pay. It may be that your property will lie empty for a number of months which means you will receive no income or you could suffer other costs relating to looking after your property. With tax and possible agency fees to consider as well, there are a number of costs involved with renting a property which means that you need to consider the cost and implications of your mortgage.

Who will carry out maintenance work?

Accounting for the cost of maintenance work is crucial in setting your finances out, but who will actually carry out maintenance work at your property? Do you have the skills, time and resources to carry out work yourself and are you able to carry out work on all problems that can arise? If not, you will need to find reputable professionals in the local area who you can rely on to carry out maintenance work at your property.

Think about the long term

While receiving rental income every month is a big draw for many people, the major benefits of the buy to let market don’t really come in the short term, they come in the long term. This means that it is best to be thinking of the long term, which means maintaining your property and finding the right tenants. You also want to ensure that the property is in area that has long term opportunities for growth as opposed to benefitting from a short term fad.

Consider a letting agent

While you may like the idea of being a landlord, it may be that the work is too demanding for you. If you are still keen on gaining rental income but would prefer some support and assistance, turning to a reputable letting agent is a great way to bring in rental income without any of the fuss and hassle.

To speak with our award winning team of letting professionals, please contact our offices 24 hours a day, 7 days a week on 03330 433 633 or email us lettings@jezzards.co.uk 


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Jezzards Estate Agents



 

 

Jezzards properties Hampton

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  • " I've dealt with some horrible agencies whilst renting in the past but I am glad we had Jezzards as our last. Didn't know that someone so professional and understanding and true to it's word existed in the business. I locked myself out once and they were there in  20 mins to assist. Heating stopped in the night and their out of hours assistance helped sort us out. Any problems or issues, were very promptly and effectively dealt with...I didn't even have to chase them. Our exit was quick, refunds took some time due to overlooked issues, which Victoria Jezzard looked into personally, and all done in 3 days. Dorathy was our handler and she was ace!! "

    Lorraine September 2019
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    Anonymous September 2019
  • " Jezzards give me peace of mind and support knowing that keeping my tenants happy and comfortable. In particular, their property management team (specifically, Dorothy) are always so open, clear, kind and accessible. I think they offer great value for money and I thoroughly recommend them. "

    Astan August 2019
  • " Everybody at Jezzards Estate Agents, Surbiton was very patient and sympathetic to our needs as non-residents looking to buy in a completely new area. We were provided with maps and advised on the layout of the town and nearby areas. We would particularly like to thank Gaj Murali for showing us round various properties in the pouring rain and taking a personal interest in helping us find the right property. Thank you Gaj. "

    Anonymous August 2019
  • " just like to say that once agin the service from Jezzards has been exceptional and special praise tio Dorothy whio handled my lettiing from start to finish perfectlty and made sure all parties were happy. great company to deal with and would recommend to others without hesitation. thank you once more "

    Rino August 2019
 
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