At Belvoir! Enfield we understand that your buy-to-let property may be the second largest investment you make, after your own home. It is only natural then that you would want to protect your investment as much as possible. Below are 10 key points for consideration before you purchase or let you investment:
1. Before you invest in a buy-to-let property make sure you get the real rental valuation from a lettings specialist rather than the agent selling you the property!
2. Before you decide on a tenancy type to target, ensure that you understand both the rents and the associated costs e.g. Licenced HMO’s.
3. Before agreeing the price on a property invest in both Gas and Electrical surveys to support your building survey.
4. Ensure that there is a market for the type of property you are investing in and with the type of tenants that you want to attract.
5. If using a Letting Agent, ensure that you understand their ‘Terms of Business’ before signing the contract.
6. When selecting an agent, compare all the costs you will incur in the first 12 months, don’t just sign up with the cheapest management fee.
7. Make sure that the deposit is logged with a regulated Tenancy Deposit Protection scheme, or you could end up paying the tenant three times the value of the deposit!
8. Before marketing your property ensure that you have a valid Energy Performance Certificate (EFC) and Gas Safety Certificate (GSC).
9. Market your property at a realistic rent to increase its attractiveness to tenants and minimise void periods.
10. Ensure that a thorough inventory is carried out before the tenancy starts, in order to minimise disputes at the end.
For more information on how to ensure that you safeguard your property investment, please contact Belvoir! Enfield at –
Web - www.belvoir.co.uk/enfield
Email - email@example.com
Phone - 020 8364 5418