5 Tips To Letting Agency: Visit Lettings Agency in Hove

Buy-to-let is growing again. The amount of money lent to landlords in the three months to the end of June was 29pc greater than in the same period last year.

But if you want to join the band of buy-to-let landlords, it’s crucial to buy the right properties and manage them correctly. Knowledgeable property investor Graham White, who has about 10 properties worth more than £1m collectively, knows how to do this and how to dodge the mistakes that many first-timers make.

If You Want To Be A Lettings Agents in Hove - Here Are The Top 5 Tips He Gives:

1. Try to buy something that is not very old

“Try to buy something that is not very old – this will mean fewer maintenance down the line. As lovely as period two-bedroom house sounds, you’re not going to be living in it. Do not get carried away about any purchase as a home. It is a business deal.”

2. Buy the type of property that is utmost “lettable”

“Two-bedroom houses and flats are ever popular and appeal to the widest range of potential tenants, especially those who are finding it tough to get on to the property ladder. Avoid large family homes, which appeal to fewer potential tenants.”

3. Don’t restrict yourself to your own immediate area

“Don’t restrict yourself to your own immediate area but research others nearby, where the rental yields may be markedly better.

I live in a city close to the south coast. Property here is expensive compared with surrounding towns and cities. A typical two-bedroom leasehold flat in my city will cost around £250,000 and fetch about £875 a month in rent. There is a smaller town 20 minutes away where property is far less expensive – you can buy a two-bedroom freehold house for around £125,000, which fetches a monthly rental of about £680.


In other words, you halve the purchase price but your rental income falls by only 22pc. You could

buy two of these properties for the cost of one in your own backyard and receive £1,360 a month, not £875. Remember, you are not purchasing to sell again in a year. You will probably own the property for the rest of your life and then bequeath it, so concentrate on getting the best rate of return on your money.”

4. Make sure the area has a healthy market for tenants.

“In the example above, there are plenty of tenants to go around in both areas. But be shrewd about the exact location of the property within your chosen town or city. Convenience is a useful factor. Being within walking distance of shops, railway stations, the town centre and so on will ensure that your property is high on the list of desirable places to live for tenants.”

5. Try to avoid run-down areas.

“Quite simply, this will have a direct relationship with the type of tenant you will attract – and poor quality tenants will cost you money.”

http://www.thisismoney.co.uk/money/mortgageshome/article-1596759/Ten-tips-buy-let.html
http://en.wikipedia.org/wiki/Letting_agent
http://callusfirst.uk.com/listing/rand-and-co/