Pop in and see us...
Monday to Friday 9am to 6pm
Saturday 9.30am to 2pm
Other times by appointment.
Viewings arranged 8am to 8pm.
The office is closed on Saturday 12th March and 26th March.
Buy To Let Advice
Based on extensive Uxbridge rental property knowledge Belvoir! offers a range of services for the investment landlord looking to build a “buy-to-let” portfolio. Please call us on 01895 257935.
10 Tips for Buy to Let Investment
Buy to let property is a popular long term investment and one which continues to grow in popularilty, as it offers both rental yield and capital growth when the property is sold.
We share 10 tips to help you on your way to your first buy to let property.
1 Research the market
If you are new to buy-to-let, what do you know about the market? Do you know the risks, as well as the benefits? Ensuring you are familiar with the pitfalls as well as the benefits is essential.
2 Choose a location
Choosing a property for buy to let is all about the location. Tenants, unlike buyers can move out at a months’ notice when their fixed period ends and will not hang around for a property that does not service their needs. Depending on your target market you will need to consider the proximity to local schools, transport links, work places and so on.
3 Choose a promising area
Promising does not mean most expensive or cheapest. Promising means a place where people would like to live and this can be for a variety of reasons. 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).
At Belvoir Uxbridge we don't sell property - we want to help you find property tenants will love and will let quickly.
4 Target your tenant
Remember you are not the tenant and instead of imagining whether you would like to live in your investment property put yourself in their shoes.
It is also possible to take out an insurance policy against your tenant failing to pay the rent, usually known as rent guarantee insurance
Carefully reference check your tenants. All of our tenants are comprehensively checked.
5 Buy properties that are easy to rent all year round.
Ensure your property is well presented. A small cost to freshen up the decorating can make the property much more appealing and quicker to rent.
6 Get Insured
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. Belvoir have a partnership with Endsleigh to provide a specialist bespoke Landlord Insurance.
7 Haggle over price
If you are not reliant on selling a property to buy another, then you are not part of a chain and represent less of a risk of a sale falling through. This can be a sizeable asset when negotiating a discount, especially in a tough market such as the one we have now.
8 Use a licensed letting agent
Only use letting agents that are members of the National Letting Approved Scheme (NALS), The Property Ombudsman and Safe Agent. Our landlord ‘client accounts’ are independently audited annually to ensure your money is safe.
9 Secure the Deposit
Ensure the tenants deposit is protected. All private landlords and letting agents taking deposits for assured shorthold tenancies (ASTs) in England and Wales are required to safeguard them. We protect all deposits in the Government backed Deposit Protection Scheme (DPS)
10 Consider how hands-on you want to be
Buying a property is only the first step. You will need to find a tenant, deal with enquiries and collect payment. It is possible to do this yourself but if you’ve a full time job you may prefer to hand the property management to an agent. For a percentage fee Belvoir will find tenants, deal with problems and will have relationships with plumbers, electricians etc. should repairs be required. We will also take care of referencing, contracts, deposits, inventory’s, checking tenants in, inspections of the property, legal notices and checking out at the end of the tenancy and checking rental payments are made each month.