If you’re planning to rent out your house or flat, or increase your property portfolio, here at Lawton & Dawe Property we thought that you may appreciate a helping hand. So, we’re pleased to offer you our Buy-to-Let Advice for Landlords check list and guide.
Also, as the property experts in Hove, we also know what NOT to do. And, the best way for you to earn good yields. Renting is popular in Brighton and Hove. Why? Because many people have been priced out of the market, so rental properties are in high demand.
Lawton & Dawe. Adding value with buy to let advice for landlords
Firstly, we’d be happy to research and source good properties for you based on what you can afford and the sort of yields you are after. Moreover, not only can our team offer advice on market trends and discuss portfolio strategies, we can also oversee the management of your portfolio.
We miss nothing. And, of course, you’ll be able to view the property before you buy it. We’ll offer our experienced opinion on how much you can rent it for, and the work you may need to have done before we market it for you.
To add value to our relationship, if you need financial advice, ask us to recommend an advisor. We work with some great people who’d be happy to help you.
Welcome to the rental revolution.
Firstly, get the right tenant. But, take your time.
Best not to rush this one. Always, it’s better to wait for reliable tenants. Regardless of the fact that this is an oversubscribed market, that important process could take a little time.
To make things easier, we can discuss your selection criteria and carry out accompanied viewings. Likewise, reference and credit checks are vital, so let us ensure that the person who takes up residence in your property will pay their rent on time. And, that they’re right for you.
Inform your mortgage company
Unfortunately, you may find yourself in breach of your mortgage conditions if you don’t let your provider know that you’re renting out your home. So, don’t forget.
Let your insurer know
Again, this is important. Your general home and contents cover won’t be appropriate if you rent out your home. You should ask about specific landlord’s insurance. Why? Because this will protect against loss of rent and can also provide liability insurance. As a landlord, you’re responsible for the safety of your tenants.
Get a tenancy agreement
In our experience, a formal agreement is essential. An assured shorthold tenancy (AST) is good. These run for a minimum of 6 months and offer a guarantee that you’ll get your property back at the end of the agreement.
Also, an inventory is a must. This makes things easier if there’s any dispute about the deposit at the end of the tenancy.
Lawton & Dawe Properties will be pleased to oversee all of these things. We like to make your life easier.
Lodge the deposit
As you may know, you are now obliged by law to lodge the deposit in a government-backed deposit scheme. In fact, there are a few of these, but again – we’ll take care of this for you.
Have a look at our Landlord Guidelines page for more information.
We hope you’ve found our buy to let advice useful. Contact us to get the ball rolling. And, join our happy band of landlords!