Becoming a Buy To Let Landlord
Now you have lots of questions that you need answers to and this is where we may be able to help you.
Our presentation is designed to guide you through the basic steps from the very beginning and offer you guidance on all the different steps along the way to becoming a landlord.
Naturally, there are lots of issues to consider and to be successful you need to plan carefully.
Why your choice of tenants is so important
While there are lots of people looking for somewhere to live, they can have many different reasons for renting. From young couples looking for an affordable home, to professional people seeking short term accommodation near to their place of work.
Who would you like to attract and who would you be happiest dealing with? What would appeal to them and what would they expect you to provide in return for their rent? These are the factors you need to bear in mind before choosing where to buy and what to buy.
What’s involved in a Buy To Let mortgage?
As you’d expect, it’s not quite as straightforward as buying your own home - our guide shows what to expect and may help you prepare.
This includes not only what you’ll be required to provide, but what the mortgage-lender will be looking for. For example, is the property likely to provide a level of income to safeguard your ability to meet the mortgage repayments?
Other points to note are details of tenancy agreements, deposits and credit checks.
Managing your investment to make the most of it
Once you have your property – and suitable tenants - you’ll want to look forward to the regular income this generates. Think about the day to day management and what this involves.
For instance, what’s the best way of going about collecting the rent? And what are your responsibilities with regard to maintenance and so on? Remember, you have a choice - either appoint a letting agent, or go for the self-management option.
In either case, handled in the right way you can minimise any potential problems and enjoy all the financial advantages your investment may bring.
What will the taxman take?
The rules on tax relating to different aspects of Buy To Let are currently changing and our guide aims to put you in the current picture.
This involves key issues and how you might be affected depending on your circumstances. Plus, where you might stand on Inheritance Tax.
As always with such important financial matters, we would advise you to seek professional advice – and our pointers may help identify the most important areas and any action you might need to take.
Buy To Let, but be sure of protection
Many people have seized the opportunities that come with Buy To Let and the rewards may be substantial, but it’s wise to have the best possible protection in place.
So take a look at our PDF file: Buy to Let guide for Landlords PDF size: 32.6MB now and start looking forward to becoming a landlord and enjoying all the benefits your investment may bring.