Buy to let has always been popular in this area and it can be a great investment. From our knowledge of this market we’ll be able to give you all the advice you need, plus access to prospective tenants.
Here are a few things to consider if you’re thinking about buy to let:
What’s your target market?
For example, are you aiming at renting to airport workers or young families? They might have very different priorities. Bear in mind it’s not you that will be living there.
How much time do you want to spend on management?
If you’re happy to deal direct with your tenants when something needs fixing or there’s a problem, that’s fine, but remember that, as far as they’re concerned, you are a full time landlord. We can manage your property for you, dealing with the day to day running and allowing you to concentrate on other things.
What are my legal obligations as a landlord?
Every year you must have gas equipment like boilers and ovens inspected by a registered engineer, and then give the safety record to the tenant.
Any electrical equipment you supply has to be safe too, and furniture must be fire resistant.
Pestell & Co. is obliged to refuse to take on a property where the furniture, furnishings, gas installation or electrical equipment do not comply.
As of the 1 October 2008 all landlords letting properties to new tenants will need an EPC.
An EPC or Energy Performance Certificate demonstrates the energy rating of a property. An EPC gives owners and tenants information on how efficient their property is and gives a standard energy and carbon emissions rating from A to G, A being the most efficient.
EPC’s for lettings properties are valid for 10 years. However if improvements are made to the property which might effect the energy rating then the report can be carried out more often.