Buy to Let Top Ten Tips

1.         Buy -to-Let is a medium to long term investment.

2.         Seek independent advice regarding the best areas for buy-to let investment.

3.         Do your sums, many buy-to-let lenders require rent to be 125% of the mortgage payments. 

4.         Have a contingency fund for repairs and to cover any void periods.

5.         Use an ARLA agent.  They are bonded, hold Professional Indemnity Insurance and have trained staff.

6.         Consider a rent guarantee policy.  For whatever reasons tenants may stop paying rent - but your mortgage still needs to be paid.

7.         Consider how hands-on you want to be.  Inexperienced or busy landlords may want an agent to manage their property.  Others may just require a tenant finding service

8.         Consider the age and standard of the property.  Recently built properties or properties that have been fully renovated are likely to have fewer maintenance issues.

9.         Is the property freehold or leasehold?  Bear in mind costs attached to a leasehold property.  Service charges and ground rent are the responsibility of the landlord.

10.       Don't let personal taste cloud your judgement.  Be sure the property you choose meets local market requirements.