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Top Tips For Purchasing Buy-To-Let Property

<p style&equals;"text-align&colon; justify">As a landlord there are many factors which need to be considered when looking at potential buy-to-let property&period; From researching the ideal rental location to buying insurance&period; Here are a few main points which are worthy of consideration when looking to invest in buy-to-let property&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Location<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Local property in a familiar area may seem easier to tend to&comma; however the local area may not represent the best investment opportunities available&period; Consideration should be given to property a little further afield which can be bought at a lower cost and let out at a greater rate&period; Employing the services of a professional property management company can ensure your property is in safe hands wherever it is located&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Amenities<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Once a potential location has been found it is worth taking time to consider the local amenities&period; Good commuting links to major employment centres are an important factor for young professionals&period; Close proximity to major Universities and colleges is vital for attracting students as potential tenants&period; Other factors such as having local parks nearby and the volume of local traffic meanwhile will be considered by young families&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Property type<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Typically the properties which present the best return on investment or &OpenCurlyQuote;yield’ are one or two bedroom properties with well decorated kitchens and bathrooms&comma; ample storage and good levels of natural light&period; In areas where families are the most likely tenants&comma; parking facilities&comma; private gardens and security features such as secure entry systems are also good investments&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Target tenant<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">When looking to invest in buy-to-let property it is worth keeping in mind that the property is an investment and not a home&period; Try to look at it from the point of view of the types of tenants who are most likely to rent a property in the local area&period; A flat with multiple bedrooms and a communal kitchen or living space may be more suited to students while a semidetached house with a driveway or garden may be better suited to a young family&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Mortgage<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">Advice that is often prescribed but seldom taken is to shop around for a mortgage once the decision has been made to purchase a property&period; It may be tempting to apply for a mortgage with a local bank or trusted building society&comma; however significant savings can be made by looking at alternatives&period; Buy-to-let mortgages differ from traditional residential mortgages&comma; most lenders will offer around 80&percnt; of the property’s value&comma; so this is worth careful consideration when it comes to the initial investment&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify"><strong>Insurance<&sol;strong><&sol;h2>&NewLine;<p style&equals;"text-align&colon; justify">While the &OpenCurlyQuote;best deal’ is often regarded as the policy with the lowest monthly or annual premium&comma; in terms of building&comma; contents and specialist landlord insurance&comma; the best deals are often on the more comprehensive policies&period; While most policies will cover accidental damage&comma; theft and even fire or flood damage&comma; they may not cover intentional or malicious damage to property from a displeased tenant&period; An adequate level of building insurance is also mandatory if the property it to be let while a mortgage is still being paid&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify">www&period;click-let&period;com are a small but perfectly formed property letting and management services for Edinburgh and Fife&comma; who believe that the purpose of a managing agent is to build a mutually beneficial relationship between landlords &amp&semi; their tenants&period;<&sol;p>&NewLine;

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