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.
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