Buy to let
Advice for investors and landlords, from your first purchase to a growing portfolio.
Why let your property?
There are many circumstances which lead to one’s decision to let their property, whether to provide for retirement, relocate or move abroad.
Letting your property offers an increasingly secure form of investment with annual yields easily exceeding other kinds of investment. This provides a consistent income which is tied to the general cost of living.
The demand for rental properties is increasing due to younger people renting for longer and a general shortage of property.
Buy to let properties are popular with mortgage providers, as they are more relaxed about lending to this
type of purchase. The value of your property is likely to rise over time, as well as provide a consistent income.
If you’re living abroad, there are certain legal formalities that need to be addressed in relation to the non-resident-landlord-scheme (NRLS).
Our team will guide you through the most suitable “Buy to Let” options, connecting you with reliable mortgage brokers and conveyancing com
Building a portfolio
We can also help you build your portfolio, sharing new local investment opportunities and detailed market reports which show areas anticipating the most growth.
When building your portfolio, there would be further exposure to the market and therefore we will guide you fully on achievable rents and cashflow forecasting to ensure that investments made are fully secure.
Frequently asked questions
Our members are full trained to understand thoroughly all requirements and are equipped with the best systems to oversee compliance. We also ensure that all tenants are referenced comprehensively and offer a rent and legal service guarantee which will give you peace of mind and financial security.
One of the key benefits is that we make daily payments to Landlords through the use of market leading and bespoke software to manage rents promptly. Once reconciled through our system, rents are paid by BACS directly into your chosen bank account. We also generate monthly rental statements which are sent by email.
There are certain tenancies which fall outside the housing act, however in the vast majority of cases, the type of agreement used is an assured short-hold tenancy agreement, also referred to as an “AST”. This gives the tenant a minimum fixed term tenancy of 6 months.
As part of our fully managed service, we provide rent guarantee and legal cover. As we will ensure that every tenant is thoroughly vetted before a tenancy can be accepted, it is unlikely you should experience a problem like this, however in cases of rent default and the need to evict a tenant who is in breach of their tenancy terms, we will proactively work on your behalf to ensure the most appropriate action is taken.
As a Landlord, you have a legal obligation under the Landlord and Tenant Act to maintain the structure of the building, sanitation and upkeep of items provided as part of the tenancy.
There is very little difference in rental value between a furnished or unfurnished property and its location. It is based on one’s preference. A bedsit in a shared property targeting young professionals, it would usually be expected that the property is furnished, whereas a property at the higher end of the market would normally be expected to be unfurnished. It will also depend on your own individual circumstances as well and what’s also important to consider is that white goods are usually supplied whether a property is let unfurnished or furnished.
The upkeep of gardens, is written in the tenancy agreement and is the tenant’s responsibility, however it’s recommended that necessary equipment is supplied to ensure that the tenant adheres to this. Should you have large gardens or plants that require special attention, we can arrange a gardener at low cost.
An adjudication process is offered by the bond scheme to settle any potential dispute over proposed de-ductions at the end of the tenancy. This is why we have invested heavily into the quality of our inventory reports, as the outcome of any adjudication will depend on the evidence supplied. As your agents, we will do our utmost to ensure you are best protected.
Under an Assured Shorthold Tenancy agreement, the Landlord has mandatory rights to serve a minimum of two months’ notice to reclaim possession of their property at the end of the fixed term contract. At the end of the notice period, the tenants will have been expected to vacate your property.
The “Right to Rent” scheme was rolled out across England in February 2016. Its purpose is to make sure that tenants have a legal right to live here before granting a tenancy. We have been carrying out these checks for many years anyway but now failure to obtain a sufficient proof of residence will result in a fine.
All Landlords could be liable to pay tax on their rental income, whether they live in the UK or abroad. Fur-ther information can be found on the Inland Revenues website.
As part of our fully managed service, we register the bond in our chosen scheme, though you have the option to choose a different deposit scheme should you wish to manage the tenancy. We can guide you on which one is most suited to your needs.
You are required to give the tenant appropriate notice before entering the property.
It’s stated in the tenancy agreement that the tenant is responsible for paying council tax and utility bills. It is also the tenant’s responsibility to pay the TV license, unless the Landlord has supplied a TV as part of the tenancy.
Thinking of letting your property?
Find out what rent your property could achieve with a free, no-obligation rental valuation. Call us on 01922 254022 or send us a request.
What our customers say
“Amazing service, the go-to estate agent!”
Amandeep Gandham
“Fast, efficient and very helpful. I would highly recommend Mailbox Estates.”
Manpreet Kaur
“Friendly people and helpful advice for renting property.”
Gurmant Singh