Buy to Let Basics
There were 18,200 buy-to-let loans made in March, which represents a 21 per cent leap from March 2014. Investing into buy to let has increased significantly in popularity so we have complied a list of 5 key tips which will put you the landlord in prime position to benefit from the buy to let boom.
1 Research the market – Check the crime rate, schools nearby and other factors that could possibly affect the type of tenant you are trying to attract into your property.
2 Do the maths – Work out rental yields and use comparable data online to size up your potential investment.
3 Take your time when choosing the right tenant for your property – A good long term tenant is worth the wait and a much better option than the quick fix tenant who will create voids.
4 Haggle on purchase price – Negotiate prices with estate agents, it could be your lucky day as you never know the vendors situation.
5 Consider areas outside of your locality to invest – Investing outside locality may seem daunting but the opportunity to make a greater return can often be found in areas outside your front door step and remember to research the area!
For further advice and opportunities please get in contact here, Happy Investing.
Written by Dilraj Singh on Tues 9th June 2015