| DO
– Make the purchase only in your own name or through an
Onshore company to give you full protection against capital
gains liabilities, resale problems etc … See Offshore
Property Relocation page
DO -
Visit the area and research the local rental market to get
a feeling for demand and the likely rental values.
DO –
Ensure you purchase in the best location, convenient for the
local facilities.
DO -
Using a Property Search Specialist to make sure you get the
best selection of property from which to make a decision.
DO -
Consider a buy to let property as a medium to long-term investment.
DO -
Either buy new or re-furbish and decorate to a high standard.
Good quality bathrooms and kitchens will attract the best
tenants and help you to let quickly every time.
DO –
Make sure you do a full inventory of house contents.
DO -
Make sure your sums add up. Try to ensure that the rent will
cover mortgage payments and other costs, even if you have
periods without tenants.
DO -
Employ a professional management team and get the contract
checked by your lawyer.
DO -
Market your property using an online rental agency.
DON'T
- Buy anything with intensive maintenance problems. Large
gardens use a lot of water, add little to the rental value
and will cost you a lot to maintain.
DON'T
- Allow your personal taste to over influence your purchasing
decision and ensure the property you choose matches the requirements
of rental clients.
DON'T
- Forget to maintain the correct local 'all risks' insurance.
DON’T
– Forget to allow an annual budget for repairs, re decoration
and other maintenance work.
DON'T
- Leave the running of your property to chance when you are
away. Tenants will need a proper management service.
DON'T
- Use second hand furniture or old soft furnishings.
back next
Your
home is at risk if you do not keep up repayments on a mortgage
secured on it. All loans are subject to status. Written quotations
are available directly from the lender on request.
|