Are you thinking of becoming a landlord? Some would say there has never been a better time to buy to let as money in the bank attracts little or no interest.
Buying a second property is likely to give you a good, long term investment, hopefully giving you capital growth along with a good yield as long as you buy a sound investment in an area attractive to tenants.
There are many Buy-To-Let success stories out there but there are also horror stories. To avoid the latter, you may wish to consider instructing an experienced letting agent as they can help you in several areas, especially if you are an inexperienced landlord:
A letting agent can advise you how much rent you can achieve and take professional photographs, market your property quickly on AllTheProperties and do viewings on your behalf.
They will also advise you on all the legal obligations with which you will need to comply e.g. gas safety certificates, electrical certificates and smoke alarms etc. A good estate agent will help guide you through the lettings process and reference check any prospective tenants, making sure the tenant can afford the rent and that they have had no problem with rent arrears in the past - it is crucial to find a good tenant.
If you decide you want the letting agent to manage your property once your tenant has moved in they will deal with queries and instruct trades, if there are any repairs needed. The agent will also deal with chasing any rent arrears and help with eviction procedures should you be unfortunate enough to have to go through this process - The secret to finding the right tenant is to find the right estate agent.
Once you have found a property and have your finance in place, you will need to organise buildings insurance.
