Belvoir Luton - Buy To Let Tips
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Buy To Let Top Ten Tips!
1. Carefully compare property prices and rental potential in the area you are looking to invest.
2. Before you buy a property check the letting potential with an independent, lettings specialist i.e. not a letting agency that is part of an estate agency (can have conflicting agendas).
3. Buy properties that are easy to rent all year round.
4. Only use letting agents that are members of the National Letting Approved Scheme (NALS). Our landlord ‘client accounts’ are independently audited annually to ensure your money is safe.
5. Ensure your property is well presented. We can arrange for a two bed makeover (redecorating/cleaning) which can be achieved with just £500!
6. Make sure you take out specialist lettings insurance which covers you for building, contents, malicious tenant damage, rent and legal expenses (including repossessions expenses) and arrears. Our comprehensive BELVOIR landlord insurance costs approximately £350 per year (average property).
7. Carefully reference check your tenants. We use a bespoke tenant referencing process to ensure that tenants are comprehensively checked.
8. Ensure your inventory is comprehensive or you may fall foul of a tenancy deposit complaint. We produce photographic and written inventories to ensure we win disputes.
9. Keep up with lettings legal changes. At BELVOIR! we have a dedicated legal contact that helps answer any queries.
10. Take specialist property financial and tax advice. We have links with local and national professionals to help you minimise your tax bill.
Belvoir Luton will help you select prepare advertise manage protect and maintain your investment for the life of your ownership of a property.
6 Archway Parade
Marsh Road Leagrave
T: 01582 345644
F: 0843 216 1800
E: Contact Luton
Mon-Fri 0930 to 1730
Sat 1000 to 1400 (Viewings Available 0900 to 2000 by Appointment)