Property website Rightmove say that successful buying-to-let is dependent on a number of key aspects. Namely, buying the right kind of property in the right location that appeals to a large range of tenants, good tenants who will pay the rent and look after the property, your ability to manage the tenancy properly, compliancy with the rules and regulations on letting property, and not getting emotionally attached to your property. It’s generally a long term investment and a mistake to treat it as your own home.
That last point is down to you, but all the other key aspects that they mention, we here at Belvoir! Sheffield can help you with as part of our extensive property investment services. We can help match the right property in the right part of Sheffield to you specific circumstances and investment aspirations, market and manage it correctly, and ensure that you stay advised on all the relevant regulation aspects.
Rightmove go on to explain that the UK has a housing crisis – a growing population and a lack of available properties has pushed up house prices beyond what people can afford in many areas. This has meant some people have no option but to rent instead – it’s usually cheaper and for those that want to eventually buy; it allows them to save for a deposit.
Buy to let is growing in Sheffield as well as nationwide as at the same time, lifestyles have become more flexible. Today people move between work and study frequently. For these people being a tenant offers more flexibility than buying a house.
In 1988, the tenancy laws were changed to allow landlords to get their property back simply by giving sufficient notice to the tenant. In 1996, special ‘buy-to-let mortgages’ for landlords became available, making it much easier for people to borrow money to buy property to let. All this is good news for landlords….
Belvoir! Sheffield is the one stop specialist for Sales and Residential Lettings and Property Management, Investment and Wealth Management Advice, Fit-outs and Renovations, Property Insurances and Mortgages. Belvoir! Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013 and is a multi award winning agency.
For more information, please visit Belvoir! Sheffield or call 0114 331 0033. Alternatively, please email rick@belvoirsheffield.co.uk
For the most up to date information relevant to landlords, vendors, and buyers of owner occupied and Buy to let property in Sheffieldensure you follow Belvoir! Sheffield on either Facebook, Twitter or visit our website for property lettings or property sales.
http://www.rightmove.co.uk/resources/property-guides/letting-guide/letting-advantages.html/svr/2712;jsessionid=34659B5667A578B12F8B132CF02AD4B0
