Essential Advice for Buy-to-Let Landlords

How to invest in the right property, create a budget that works for you and get happy tenants that will take care of your investment.   

Buy-to-Let  is thought of as a great way to invest for the future but changes in the tax regime for 2017-20 will make buy-to-let a more challenging investment. 

Whether you are a serious multi-property investor or someone with a single buy-to-let property there are some essentials you need to understand to ensure successful property investment. Make sure you make the best buy-to-let decisions by following these seven steps.

  • Understand the market - Is buy-to-let right for you? Compare it with the returns you could expect from investing in funds, shares or an investment trust
  • Pick the right area - Somewhere nearby does have its advantages but think about other areas where you could get more for your money
  • Shop around for the right mortgage - Compare what the banks and building societies offer 
  • Know who your target tenants are - Your market research should highlight the perfect people for your property. Get this right and they’re more likely to stay put
  • Invest for Income - While capital growth may be the long term benefit you shouldn’t bank on this, your buy–to-let business should be based upon the income you can get for your property.
  • Look ahead – spot the dangers – We know that  tax changes in 2017-20  will make buy-to-let a tougher proposition. Always stay informed and look to how future changes to tax and legislation could affect your business
  • Manage your property well – A well looked after property is more likely to get happy tenants who are more likely to care for it and less likely to move

Buy-to-Let may not be seen as the safe bet that it once was but it can still work for you as long as you go into your business with a clear plan and you have considered all the issues above. Get more advice and guidance on understanding the ups and downs of the rental business at  NatWest Business Insurance .

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