With the economic recovery now firmly underway (or so we are told!) many would be landlords are now becoming confident enough to dip their toes into that font of riches that is the Buy-To-Let market.
This market is indeed very rewarding for some but there can be many pitfalls along the way that could be avoided with just a little thought and a lot of research.
1. Do your homework on likely yield and projected capital growth. This is a business after all and the numbers need to add up.
2. Choosing the right location is vital. Make sure that there are useful transport links nearby along with accessible parking.
3. If choosing an apartment, what are the service charges? Remember these charges come straight off your bottom line.
4. Make sure that you keep up to date with all of the legal ramifications of letting a property. It can be a very expensive mistake if you don't.
5. Ensure that you thoroughly reference your tenants including credit scores, landlord's references, employment references, residency and bank validation.
Alternatively you could just speak to me Martin at Martin and Co Sutton and I could do it all for you!
Call Martin Now on 020 8337 9647