Are you thinking of entering the rental property market?
With house prices stagnating in some parts of the country and with rental yields increasing, many people are thinking about the option of renting their home rather than selling it. Those that are thinking of entering the buy-to-let market as an investment should also remember a number of key factors.
Should you be considering this move then here are some key points to consider to help you get the most from your investment..
A good well written Tenancy Agreement detailing things like how much rent is due and on what date along with details of any deposit will pay dividends should anything go wrong with the rental period.
It is essential that a tenancy deposit scheme is used as they are a legal requirement for all landlords. Forget to adhere to the rules and you could find yourself in a lot of trouble.
If the property is fitted with any type of gas appliance then you must have a current Gas Safety Certificate issued by Gas Safe registered engineer. Your prospective tenant should be provided with a copy of the Gas Safety Certificate.
Any new Landlord should make sure that they take out proper landlord insurance as a normal household insurance policy will not cover you in the event of any problems.
Maintaining your Property:
Keeping things working and carrying out repairs in a timely manner, by a good reliable local trade’s person is essential in maintaining a good tenant/landlord relationship.
Using the services of a recognised and established lettings agency can also be a very good move. An agent that can provide the above services for you can save you time and money in the long run and they will be used to dealing with these issues on a daily basis.
So if you are thinking of entering the rental market and have a property to let give us a call and let us help you get the maximum rental yield for your investment.