Landlords
Once you have made the decision to let out a property, there is some work to do to get yourself and the property ready. There is a lot to consider, including a myriad of legislation, regulation, taxation, consents etc. With some research, detailed planning and good advice you can ensure that both your and your property are ready
Whether you are thinking about making your first “buy to let” investment, or you are an experienced portfolio landlord, there is lot that you need to consider when you rent out property. In fact, it can all seem a little overwhelming. But don’t panic, we are here to help.
If you are thinking about renting out a property, there are a significant number of statutory and regulatory requirements that you need to meet as a landlord. In fact, there are around 145 laws, and over 400 regulations, that need to be followed to legally let a property in England and Wales (Source – PropertyMark 2018).
In addition to the legal and regulatory obligations placed on landlords who let property in the Private Rented Sector, there are a number of further “best practices” that should be considered to ensure that the property is safe and well managed.
The key drivers of a successful letting strategy are finding and retaining great tenants. Having to deal with a damaged property or initiating action for breach of lease and repossession can be expensive. Similarly, frequent tenant turnover and increased void periods have a detrimental impact on yields. Here are our top tips to ensure you are successful.
