Buy to Let - A quick reminder

February 12th 2015
By: Jon

As you know, being a landlord can be a lucrative business, if you treat it as a business rather than a hobby. We have put together a quick reminder list of things that you need to remember when you are investing in property. Importantly, don't forget that Goodfellows are able to advise you on purchasing a property and can offer a fully managed service or just a tenant finding service. 

One of the most important rules of purchasing a buy to let property is that you buy something that is in high demand from renters, not something that you would choose to live in.

Before you purchase a property, think about your prospective tenants and what they will be looking for – a professional couple might need good transport links, whereas a family will be looking for a property near popular schools. 

Homes within a mile of a railway station will let quicker on average, than homes further away.  A mile equates to a 15 minute walk which is manageable before and after work.
Many tenants don’t want to spend time maintaining a garden, so if your property has a garden, you may wish to pave it and choose plants that are slow growing or require minimal care.

Our offices have dedicated lettings staff who are able to advise you before, during and after purchasing a property; and then are able to offer a fully managed service where we can find you tenants and complete all the rental collection and management services which are necessary – gas and fire safety certificates, and maintenance throughout the term of your rental.

For help and advice on all aspects of the rental process, give our office a call on 020 8687 0077.