If you’re considering purchasing your first buy to let property then these top tips will help you find the right property and get the most out of it.
- Make the most of it: For those who are thinking of renting to students why not consider converting the living room into an extra bedroom to help boost your rental returns.
- Go modern: A fully modernised property will let out a lot quicker than an older out of date property and will also need less maintenance to keep it in top condition.
- Check references: Make sure you check potential tenants carefully, from previous landlord references to credit checks; these simple measures can make sure your tenants won’t be a problem.
- Redecorate and clean: Following a long tenancy make sure you take the time to thoroughly clean your property and redecorate to keep it look fresh and modern.
- Don’t be greedy: It’s better to hold onto a good tenant paying less, than a bad one paying more
- Consider cash: It could work out cheaper to re-mortgage your current home than taking out a buy-to-let mortgage so make sure you do your sums and always get professional advice.
Whether you’re planning on being completely involved in the maintenance of your property or you want to take a step back and let someone else do everything for you, at Hausman & Holmes we can help. We are a full-service lettings agency and can tailor our service to your needs. Check out the difference between our Letting Service and Letting & Management Service here